OKG Technology Holdings Limited:Star Xu Is Under Investigation by Public Security Authorities

[ChainDD report] October 19 (ChainDD) The Hong Kong-listed company OKG Technology Holdings Limited (HK: 01499) issued an announcement stating that on October 16, 2020, it was informed by the legal counsel representing OKC Holdings Corporation (OKC) that Star Xu (Ming Xing Xu) is currently under investigation by the Chinese public security authorities. The company has not yet contacted Star Xu to verify the information.

It is understood that Star Xu is a non-executive director of OKC. Through his interest in OKC, Star Xu is also the company's controlling shareholder.

As far as the board of directors knows, OKG Technology Holdings Limited is currently not under any government investigation in China. It is currently expected that Star Xu’s investigation will not have any significant impact on the business operations and/or financial conditions of the company and/or any of its subsidiaries.

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