Xlinks First Limited entered into a share subscription agreement for the placement of common shares for gross proceeds of £4,999,380.510 on January 22, 2024. The transaction will include participation from new investor, Ningbo Orient Wires & Cables Co.,Ltd. for approximately 2.40%. The transaction needs to be filed or approved by relevant government agencies such as China?s overseas investment authorities and foreign exchange management agencies.

The agreement will take effect from the date of signing and will continue to be effective until one party notifies the other party in writing of terminating this agreement no less than 12 months in advance.