Zhang Yang made an offer to acquire the remaining 36.25% stake in Global Dining Holdings Limited (SEHK:8496) for CNY 27.18 million on November 4, 2022. The offer per share is CNY 0.3125 and total number of shared to be acquired is 87 million. Zhang Yang acquired 63.75% stake in Global Dining Holdings Limited (SEHK:8496) on November 4, 2022. The Board proposes to change the English name of the Company from ‘‘Global Dining Holdings Limited'' to ‘‘Global Uin Intelligence Holdings Limited. It is intended that one of the independent non-executive Directors will resign after Completion and with effect from the earliest time permitted under the Takeovers Code. The Offeror intends to nominate new executive and independent non-executive Directors for appointment to the Board with effect from the earliest time as allowed under the Takeovers Code and any such appointment will be made in compliance with the Takeovers Code and the GEM Listing Rules. The Offeror does not intend to avail itself of any powers of compulsory acquisition of any Shares outstanding after the close of the Offer. The Offeror will, together with the Company, use reasonable endeavours to maintain the listing status of the Shares on the Stock Exchange. Transaction is expected to close on December 16, 2022. Gram Capital Limited acted as financial advisor to Zhang Yang. Grande Capital Limited acted as financial advisor to Independent Board Committee of Global Dining Holdings Limited . Sunwah Kingsway Capital Holdings Limited acted as financial advisor to Global Dining Holdings Limited.

Zhang Yang completed the acquisition of additional 11.58% of stake in Global Dining Holdings Limited (SEHK:8496) for CNY million for CNY 8.7 million on December 16, 2022.