Item 5.02 Departure of Directors or Principal Officers' Election of Directors;
Appointment of Principal Officers.
On March 31, 2020, a change of control occurred with respect to the Company.
Pursuant to a Stock Purchase Agreement entered into by and among the Clancy
Corp. ("Company"), Gaoyang Liu ("Seller"), and Xiangying Meng ("Buyer") (the
"Purchase Agreement"), Seller assigned, transferred and conveyed to Buyer
60,000,000 shares of common stock of Company ("Common Stock"), which represents
64.4% of the total issued and outstanding shares of the Company, for the sum of
$285,000. In addition, Seller assigned his rights and interest to outstanding
loans made by Seller to the Company in the amount of $55,609 for the face value
of such loans.
Mr. Meng now owns 67,500,000 shares of common stock of the Company or 72.5% of
the issued and outstanding shares of common stock of the Company.
In connection with the transaction, Mr. Liu, the then sole officer and director
of the Company resigned in all officer and director capacities from the Company
and Mr. Meng was appointed Chief Executive Officer and Chief Financial Officer
of the Company. In addition, Mr. Meng was appointed the sole director of the
Company.
Name Age Position
Chief Executive Officer, Chief
Xiangying Meng 41 Financial (Accounting) Officer and
Director
Xiangying Meng. From December 2015 to April 2018, Mr. Meng has worked as
executive director of Beijing Chengdun Chengxun Information Technology Co., Ltd.
From March 2018 to December 2019, he was the Chief Executive Officer and a
member of the board of directors of Beijing Chengdun Qixin Technology Co., Ltd.
From April 2019 to present, he has been the Chief Executive Officer of Beijing
Chengdun Kaibo Network Technology Co., Ltd
Mr. Meng has more than ten years of experience in corporate management and more
than fifteen years of experience in the IT industry. He is familiar with the
status and development trends of the IT market.
There have been no transactions since the beginning of our last fiscal year, or
any currently proposed transaction, in which we were or are to be a participant,
exceeding $120,000 and in which our new officer had or will have a direct or
indirect material interest. There is no material plan, contract or arrangement
(whether or not written) to which our new officer is a party or in which he
participates that is entered into or a material amendment in connection with the
triggering event or any grant or award to any such covered person or
modification thereto, under any such plan, contract or arrangement in connection
with any such event. The officer serves in such executive positions at the
discretion of the Board of Directors. The Company and its new officer have
verbally agreed that no compensation will be due or owning to the new officer
until such time as the parties reach a written compensation agreement, if any.
-1-© Edgar Online, source Glimpses
CLANCY CORP. 
