Metaspacex Limited announced on 27 April 2026 that Chan Yuen Tung, through financial adviser Rainbow Capital (HK) Limited, has expressed a firm intention to launch a pre-conditional voluntary cash partial offer for 15.80 million Metaspacex shares not already owned by him or his concert parties. The targeted stake represents approximately 3.29% of the company’s 480 million issued shares.

The proposed offer price is HK$0.33 per share, valuing the total consideration at HK$5.21 million. Relative to recent market levels, the price reflects:

• 50.0% discount to the last trading day close of HK$0.66 on 9 April 2026. • 76.7% discount to the five-day average close of HK$1.414. • 82.7% discount to the ten-day average close of HK$1.904. • 86.9% discount to the 30-day average close of HK$2.517. • 106.3% premium to audited net asset value per share of HK$0.16 (31 March 2025). • 120.0% premium to unaudited net asset value per share of HK$0.15 (30 September 2025).

Financing for the transaction will come entirely from Mr. Chan’s personal funds, and Rainbow Capital has confirmed the adequacy of resources. The offer is contingent on two factors:

1. Pre-condition: Consent from the Securities and Futures Commission’s Executive under Rule 28.1 of the Takeovers Code, which must be obtained by 29 May 2026. 2. Acceptance condition: Minimum valid acceptances of the full 15.80 million shares by 4:00 p.m. on the first closing date—no earlier than 28 days after dispatch of the offer document.

If acceptances exceed the targeted quantity, allocations will be scaled back pro rata, rounded to whole shares. Settlement is promised within seven business days after the final closing date, net of 0.1% seller’s stamp duty.

Post-transaction, assuming full acceptance and no other share changes, Mr. Chan would hold 3.29% of Metaspacex, while controlling shareholder China Sports Asset Management’s stake would decline from 53.30% to 51.55%. Public float would remain above the 25% Listing Rules threshold.

Trading in Metaspacex shares has been halted since 10 April 2026 pending further inside-information disclosures. Shareholders are urged to note that the partial offer may not proceed if the pre-condition or acceptance condition is not satisfied.