ACON: Announcement on behalf of the subsidiary of Advanced Connectek Company (Shen-Zhen) Inc. in the acquisition of an affiliated company

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Statement

1.Type of merger and acquisition (e.g.merger, spin-off ,
acquisition, or share transfer):acquisition.
2.Date of occurrence of the event:2022/08/11
3.Names of companies participating in the merger and
acquisition (e.g.name of the other company participating
in the merger or consolidation, newly established
company in a spin-off, acquired company, or company
 whose shares are taken assignment of):
ADVANCED-CONNECTEK LAO SOLE CO., LTD.
4.Counterparty (e.g.name of the other company
participating in the merger or consolidation, company
taking assignment of the spin-off, or counterparty to
 the acquisition or assignment of shares):
MODERN FRONTIER LIMITED
5.Whether the counterparty of the current transaction
 is a related party? :Yes.
6.Relationship between the counterparty and the Company
 (investee company in which the Company has re-invested
and has shareholding of XX%), and explanation of the
reasons for the decision to acquire, or take assignment
 of the shares of, an affiliated enterprise or related
 person, and whether it will affect shareholders' equity:
All of companies participating in the acquisition,
are indirectly 100% owned subsidiaries of the Company.
This transaction does not affect the Company's
shareholders' equity.
7.Purpose/objective of the merger and acquisition:
Reorganization within the Group.
8.Anticipated benefits of the merger and acquisition:
Reorganization within the Group. This transaction has no
material impact.
9.Effect of the merger and acquisition on net worth per
share and earnings per share:
There is no impact on the Company's consolidated statements.
10.Share exchange ratio and basis of its calculation:NA
11.Whether the CPA, lawyer or securities underwriter issued
an opinion on the unreasonableness regarding the transaction:
None.
12.Name of accounting, law or securities firm:Chinyuan accounting firm.
13.Name of CPA or lawyer:Lin Chun Ting
14.Number of CPA or lawyer license:6376
15.Scheduled timetable for consummation:2022/12/31
16.Matters related to assumption by the existing company
or new company of rights and obligations of the extinguished
 (or spun-off) company:NA
17.Basic information of companies participating in the merger:NA
18.Matters related to the spin-off (including estimated
value of the business and assets planned to be assigned
to the existing company or new company; the total number
and the types and volumes of the shares to be acquired
by the split company or its shareholders; matters related
to the reduction, if any, in capital of the split company)
 (note: not applicable other than where there is
 announcement of a spin-off):NA
19.Conditions and restrictions on future transfers of
 shares resulting from the merger and acquisition :None
20.Other important stipulations:None
21.Do the directors have any objection to the present transaction?:None
22.The information of the directors that is an interested
 party(name of the directors, an explanation of the
important aspects of the relationship of interest,
the reasons why the director was required or not
required to enter recusal, and the status of their
recusal; opinions expressing objections or reservations):None
23.Any other matters that need to be specified:None
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