Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PAX Global Technology Limited

百富環球科技有限公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 327) VOLUNTARY ANNOUNCEMENT COMPLETION OF ACQUISITION AND SUBSCRIPTION OF QUOTA EQUAL TO AN AGGREGATE OF 60% CORPORATE CAPITAL OF CSC ITALIA S.R.L.

Reference is made to the announcement of the Company dated 28 December 2016 in relation to the Acquisition and Subscription (the "Announcement"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

On 20 April 2017 (after trading hours), the Parties entered into an amendment agreement (the "Supplemental Agreement"), pursuant to which certain terms of the Acquisition and Subscription Agreement have been amended as follows:

  1. the payment conditions for the Second Payment and Final Payment set out in paragraph

    1. under the sub-heading "Conditions for the Second Payment and Final Payment" of the Announcement be cancelled; and

    2. the amount of the audited net profit that would trigger the Subscriber's obligation to effect the Second Payment set out in paragraph (b) under the sub-heading "Conditions for the Second Payment and Final Payment" of the Announcement be changed from EUR80,000.00 to EUR53,000.00, being a pro-rata adjustment for an 8-month period (as opposed to the original 12-month period) starting from the date of Completion until the end of the Target Company's financial year (i.e. 31 December 2017).

    3. Save as the above amendments, all other terms of the Acquisition and Subscription Agreement remained unchanged.

      * For identification purpose only

      The Board is pleased to announce that all the Conditions Precedent have been fulfilled, within the deadline for Completion as extended by the Subscriber, having exercised its discretion to extend the original deadline for Completion of 31 January 2017 to 1 May 2017, and Completion has taken place on 20 April 2017 in accordance with the terms and conditions of the Acquisition and Subscription Agreement (as supplemented by the Supplemental Agreement).

      By Order of the Board

      PAX Global Technology Limited Li Wenjin

      Executive Director

      Hong Kong, 21 April 2017

      As at the date of this announcement, the Board comprises three executive directors, namely Mr. Nie Guoming, Mr. Lu Jie and Mr. Li Wenjin and three independent non-executive directors, namely Mr. Yip Wai Ming, Dr. Wu Min and Mr. Man Kwok Kuen, Charles.

    PAX Global Technology Ltd. published this content on 21 April 2017 and is solely responsible for the information contained herein.
    Distributed by Public, unedited and unaltered, on 21 April 2017 00:53:23 UTC.

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