METASPACEX (01796) announced that the company's board of directors has been informed by China Sports Asset Management Limited (China Sports, the company's controlling shareholder) that between April 2, 2026, and April 9, 2026, 102 million shares held by China Sports were liquidated on the stock market by China Sports' lender in accordance with the terms of a loan agreement, without authorization from China Sports. As of the date of this announcement, the company has not obtained sufficient information regarding the buyers of the disposed shares, nor has it received any confirmation that these buyers are independent third parties unconnected to the lender or its associates. The company is actively making inquiries to relevant parties. In light of this, the company has noted several matters requiring clarification concerning compliance related to the identity of the buyers, including whether any of the buyers are "connected persons" (as defined in the Listing Rules) or "persons acting in concert" (as defined in the Codes on Takeovers and Mergers), and is taking steps to ensure compliance. Consequently, the company has initiated a detailed review of the share disposal matter to ensure adherence to the requirements of the Listing Rules and the Codes on Takeovers and Mergers, including, but not limited to: (i) the true identity of all buyers of the disposed shares; (ii) whether any of the buyers are acting in concert with the lender or any other person; and (iii) whether the share disposal involves any non-compliance with the Listing Rules or the Codes on Takeovers and Mergers. The company will issue further announcements when significant developments arise from this review. The company remains committed to acting in the overall interests of shareholders and maintaining transparent information disclosure. Following the share disposal, China Sports holds 255.86 million shares, representing approximately 53.3% of the total issued shares. China Sports is wholly and beneficially owned by Ms. Huang Hou. Therefore, Ms. Huang Hou is deemed to have an interest in the shares held by China Sports. The board of directors was further informed by China Sports that, due to ongoing processing of the loan arrangement between China Sports and the lender, the lender invoked the terms of the loan agreement to effect the corresponding disposal of shares held by China Sports on the stock market to fulfill repayment obligations. The company is not a party to the aforementioned loan arrangement involving China Sports, nor is it a guarantor for the loan. The board of directors believes that the share disposal will not have any material impact on the company's principal business operations, as the matter is unrelated to the company and therefore will not affect its normal operations, corporate governance, or daily management. As of the date of this announcement, the company has maintained normal operations. The company's business operations remain robust, underpinning confidence among shareholders and investors.