MEXAN’s Former Controlling Shareholder Sells Entire 67.47% Stake; Mr. Chen Jixiang and Max Premier Become Substantial Shareholders

Bulletin Express04-10

The board of MEXAN Limited announced the completion of the placing of 1.33 billion existing shares, accounting for approximately 67.47 % of the company’s issued share capital. The transaction, executed through a placing agent on 9 April 2026, involved no fewer than six independent placees.

Following settlement, the selling shareholder (“Vendor”) no longer holds any shares and has ceased to be MEXAN’s controlling shareholder.

According to the placing agent, two of the placees—Mr. Chen Jixiang and Max Premier Limited (beneficially owned by Mr. Chen)—jointly acquired about 17.64 % of MEXAN’s issued share capital, thereby becoming substantial shareholders under Hong Kong Listing Rules. All placees confirmed their independence and non-concert-party status in relation to both the Vendor and MEXAN.

The placing agreement stipulates that no single placee, either individually or with concert parties, may hold 30 % or more of the company post-transaction.

The board advises shareholders and potential investors to exercise caution when dealing in MEXAN shares.

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