City Coolxuan Company Limited (the “Company,” Stock Code: 8050) announced an update regarding its waiver from strict compliance with the minimum public float requirement under the GEM Listing Rules following a mandatory cash offer made by Hong Kong Coolxuan Group Company Limited (the “Offeror”). According to the announcement, completion of the offer on 13 October 2025 resulted in public shareholders holding approximately 17.22% of the Company’s total issued shares, which fell below the 25% threshold mandated by the GEM Listing Rules.

On 27 October 2025, the Stock Exchange granted an initial waiver permitting the Company to maintain a lower public float from 13 October 2025 until 15 January 2026 (the “Initial Waiver Period”). Since the public float remained below 25% after 15 January 2026, a further application was submitted to extend the waiver from 16 January 2026 up to and including 28 February 2026. The Offeror intended to use this time to sell sufficient shares to meet the required float level.

A subsequent share transfer on 3 February 2026 raised the Company’s public float to the required 25%. As a result, the Company applied to shorten the extended waiver period to 6 February 2026. On 10 February 2026, the Stock Exchange confirmed that it granted the relevant extension covering 16 January 2026 to 6 February 2026. The announcement is dated 11 February 2026.