An undisclosed buyer entered into a a sale and purchase agreement to acquire 51% stake in Handshake Networking Ltd from Guardforce AI Co., Limited (NasdaqCM:GFAI) for HKD 510 on February 6, 2024. As a result of this transaction, Handshake Networking will cease to be a subsidiary of Guardforce. Handshake Networking shall pay off a loan which it owes to Guardforce and will also enter into a cancellation agreement under which it will cancel 1,091 ordinary shares of Guardforce.