Sealand Securities: Internal share transfer by controller affiliate

Sealand Securities announced that its actual controller, Guangxi Investment Group, will have an affiliate, Guangxi Energy, transfer 205,976,638 shares of Sealand Securities. This represents 3.23% of the company’s total share capital. The shares will be transferred to Guangxi Energy Group via an equity swap, with the transaction occurring under the same ultimate control.

This internal transfer, valued at RMB 914,536,272.72 for the outbound shares and RMB 993,939,330.00 for the inbound equity, will not result in a change of Sealand Securities’ actual controller. It is classified as an internal transfer between different entities under the same control and will not trigger a tender offer.

The transaction requires approval from Guangxi Energy's shareholders and confirmation from the Shenzhen Stock Exchange before the transfer can be registered. Both parties have confirmed they are not listed as "discredited individuals" by the Supreme People's Court.