| SHARE CAPITAL, CAPITAL RESERVE AND TREASURY SHARES |
| 26. | SHARE
CAPITAL, CAPITAL RESERVE AND TREASURY SHARES |
Each Class A ordinary share shall entitle the holder thereof to
one vote on all matters subject to vote at general meetings of the Company, and each Class B ordinary share shall entitle the holder
thereof to twenty votes on all matters subject to vote at general meetings of the Company. Each Class B ordinary share is convertible
into one Class A ordinary share at any time by the holder thereof. Each Class A ordinary share is not convertible into Class B
ordinary shares under any circumstances. Except for the voting rights and the conversion rights, the Class A ordinary shares and
the Class B ordinary shares shall rank pari passu with one another and shall have the same rights, preferences, privileges and restrictions.
| |
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|
Numbers of shares |
|
| |
|
Notes |
|
|
Class A
ordinary shares |
|
|
Class B
ordinary shares |
|
|
Class B
treasury shares |
|
| As of January 1, 2023 |
|
|
|
|
|
|
144,077,211 |
|
|
|
131,739,722 |
|
|
|
101,787,257 |
|
| Issued during the year |
|
|
(i), (ii) |
|
|
|
98,688,525 |
|
|
|
— |
|
|
|
— |
|
| Re-issue of treasury shares |
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|
(iii) |
|
|
|
— |
|
|
|
30,875,576 |
|
|
|
(30,875,576 |
) |
| Repurchase of ordinary shares |
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|
(iv) |
|
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|
— |
|
|
|
(4,773,270 |
) |
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|
4,773,270 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| As of December 31, 2023 |
|
|
|
|
|
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242,765,736 |
|
|
|
157,842,028 |
|
|
|
75,684,951 |
|
| Issued during the year |
|
|
(v) |
|
|
|
12,157,782 |
|
|
|
— |
|
|
|
— |
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| As of December 31, 2024 |
|
|
|
|
|
|
254,923,518 |
|
|
|
157,842,028 |
|
|
|
75,684,951 |
|
Notes:
| | (i) | In April 2023, the Company issued 90,000,000 Class A shares to the private investors at US$1.04 per share. |
| | (ii) | During the year ended December 31, 2023, the Company acquired 100% of The Art Newspaper SA with part of purchase consideration settling by issuing 8,688,525 Class A shares to the selling shareholders with fair value of US$5,607. Details on Note 32 (a)(ii). |
| | (iii) | In February 2023, the Company acquired WME Assets and the transaction was settled by 30,875,576 Class B treasury shares of the Company reissued at US$8.68 per share of the Company. |
| | (iv) | On December 31, 2023, the Company repurchased 4,773,270, Class B ordinary shares from the immediate holding company, amounting to US$40,000. |
| | (v) | During the year ended December 31, 2024, the Company issued 12,157,782 Class A shares at a consideration of US$20,000. |
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