ArtGo : Announcements and Notices -

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This announcement appears for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

ARTGO HOLDINGS LIMITED

雅 高 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 3313)

COMPLETION OF PLACING OF NEW SHARES

UNDER GENERAL MANDATE

Placing Agent

The Board is pleased to announce that the conditions of the Placing have been fulfilled on 14 September 2020 and the completion of the Placing took place on 16 September 2020.

An aggregate of 222,000,000 Placing Shares, representing approximately 5.5% of the issued share capital of the Company as at the date of this announcement immediately after completion of the Placing, have been successfully placed to not less than six Placees who and whose ultimate beneficial owner(s) are Independent Third Parties. The net proceeds from the Placing is approximately HK$21.5 million.

Reference is made to the announcement of ArtGo Holdings Limited (''Company'') dated 2 September 2020 (''Announcement'') in relation to, among other matters, the Placing under General Mandate. Capitalised terms used herein shall have the same meanings as defined in the Announcement unless otherwise stated.

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COMPLETION OF THE PLACING

The Board is pleased to announce that the conditions set out in the Placing Agreement have been fulfilled on 14 September 2020 and the completion of the Placing (''Completion'') took place on 16 September 2020 in accordance with the terms of the Placing Agreement. An aggregate of 222,000,000 Placing Shares, representing approximately 5.5% of the issued share capital of the Company as at the date of this announcement immediately after Completion, have been successfully placed to not less than six Placees at the Placing Price of HK$0.10 per Placing Share.

The net proceeds from the Placing, after deducting commission payable to the Placing Agent and other expenses incidental to the Placing, are approximately HK$21.5 million which are intended to be used (i) as to approximately HK$2.5 million for general working capital such as rentals, payroll of the Group and operating costs of the marble processing plant; (ii) as to approximately HK$19.0 million for repayment of debts and the related interest costs of the Group.

EFFECTS ON THE SHAREHOLDING STRUCTURE OF THE COMPANY

Set out below is the shareholding structure of the Company immediately before and after Completion:

	(i) Immediately	(ii) Immediately
	before Completion	after Completion
	Number		Approximately	Number	Approximately
Shareholders	of Shares	%		of Shares	%
Wu Jing (Note)	97,000		-	97,000	-
Tong Sui Lun Franco	203,870,000	5.35	203,870,000	5.06
The Placees	-		-	222,000,000	5.50
Other public shareholders	3,606,730,729		94.65	3,606,730,729	89.44
Total	3,810,697,729		100.00	4,032,697,729	100.00

Note: Ms. Wu Jing is an executive Director.

By order of the Board

ArtGo Holdings Limited

Wu Jing

Chairman and Executive Director

Hong Kong, 16 September 2020

As at the date of this announcement, the executive Directors are Mr. Gu Weiwen, Mr. Zhang Jian and Ms. Wu Jing; the non-executive Director is Mr. Gu Zengcai; and the independent non-executive Directors are Ms. Lung Yuet Kwan, Mr. Hui Yat On and Mr. Zhai Feiquan.

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