Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 59

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 4
Chunk 59
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 LMIL”), our controlling shareholder, and Mr. Li Kin Shing, the sole
officer, director and shareholder of LMIL, entered into two definitive securities purchase agreements (the “ Purchase
Agreements”) with Mr. Hongwu Huang, our Chairman, Executive Director and Chief Executive Officer, and Ms. Xuefei Wang, our
Chief Financial Officer and Executive Director, respectively. Pursuant to the Purchase Agreements, Mr. Li Kin Shing sold 60% of his
interest in LMIL to Mr. Huang and 40% of his interest to Ms. Wang. Mr. Li concurrently resigned all of his positions with LMIL and the Company.
LMIL is the owner of record of 8,000,000, or 72.3%, of the Company’s outstanding Ordinary Shares. By virtue of the Purchase
Agreements, Mr. Huang and Ms. Wang, together, own 100% of LMIL and share voting and dispositive control over 72.3% of our issued and
outstanding Ordinary Shares.

The Purchase Agreements contained
customary representations, warranties and agreements of LMIL and the purchasers, as well as customary indemnification rights and obligations
of the parties. The Purchase Agreements are filed as Exhibits 99.1 and 99.2 to our Report on Form 6-K filed with the SEC on December 6,
2024.

Investment in a U. S. Artificial
Intelligence Focused Fund. On August 29, 2024, we announced that the Company had entered into a subscription agreement to make
an initial $150,000 strategic investment in a U. S. Artificial Intelligence (“ AI”) focused investment fund (the “ Fund”).
The Fund specializes in making direct venture capital investments in early-stage and growth-stage private technology companies, with a
particular emphasis on financial technology (FinTech), blockchain/web3 and enterprise technology, based upon a belief that AI represents
a greater investment opportunity than the internet did at its inception and that AI is a must-do investment opportunity.

The Board believes that the Fund’s
focus on AI-driven technologies aligns with the Company’s vision for the future of enterprise software and that, by investing in
the Fund, the Company may gain access to a curated portfolio of innovative startups as well as the potential guidance of industry experts,
which will assist the Company in identifying and evaluating AI solutions that may improve its products, customer experiences and business
outcomes.

A copy of the press release issued