Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 53

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 53
---
 promissory note purchase agreement with an institutional investor to purchase $990,000 of its convertible note (to purchase its class A ordinary shares in a registered direct offering.

On November 14, 2024, we closed a private placement transaction pursuant to a securities purchase agreement with an investor whereby the investor purchased an aggregate of 2,040,816 class A ordinary shares at $0.49 per share for an aggregate consideration of $1,000,000. we intends to use the proceeds from this financing for general working capital purposes.

On November 19, 2024, we entered into a convertible promissory note purchase agreement with an institutional investor to purchase $990,000 of its convertible note to purchase its class A ordinary shares in a registered direct offering.

Cash Transfers Within Our Organization

During each of the fiscal years
ended December 31, 2021, 2022 and 2023, the only transfer of assets among Antelope Enterprises and its subsidiaries have consisted of
cash. During that same period, there have been no distributions, dividends or loans extended by any of our direct or indirectly held subsidiaries
to Antelope Enterprises. During that same period Antelope Enterprises has not declared any dividends or made any distributions to its
shareholders.

Antelope Enterprises routinely
provides cash to its subsidiaries either by way of capital contribution or by way of loan.

Antelope Enterprises is a holding
company incorporated in the British Virgin Islands, and we do not have any substantive operations other than indirectly holding the equity
interest in our operating subsidiaries in China. Antelope Enterprises relies on dividends paid by our Hong Kong and Chinese subsidiaries
and capital raised from the sale of our securities to satisfy our cash needs. The payment of dividends to Antelope Enterprises by our
Chinese subsidiaries is affected by means of dividends by those entities to their Hong Kong direct parent and a redividend by that Hong
Kong entity to Antelope Enterprises. Such dividends are effected by resolution of the board of directors of each such entity (after provision
for applicable tax obligations).

China is a foreign exchange administration
country. Capital injections, cross-border trade and services transactions settled in foreign exchange, overseas financing and profit repatriations
are subject to the foreign exchange administration regulations. A Chinese subsidiary owned by foreign company must apply for registration
of foreign exchange with the SAFE after the issuance of a business license and obtain a foreign exchange registration certificate. When
the Chinese subsidiaries apply for repatriating dividends to foreign shareholders, it must submit the application form to