Gain Semiconductor Limited

NOTICE OF TRANSFER OF BUSINESS
———
In pursuance of Sections 4 and 5 of the Transfer of Businesses (Protection of Creditors) Ordinance (Chapter 49 of the Laws of Hong Kong)
———
Notice of hereby given that Gain Semiconductor Limited, whose registered office is at Suites 2606–08, China Resources Building, 26 Harbour Road, Wan Chai, Hong Kong (“Transferor”) carrying on, as part of its business, the business of the design, manufacture and sale of brushless DC motor controllers and related activities at Suites 2606–08, China Resources Building,  26 Harbour Road, Wan Chai, Hong Kong under the name of “Gain Semiconductor Limited” (“Business”), has agreed to transfer the Business to Kinetic Technologies, a Cayman Island exempt limited company and affiliates thereof (“Transferee”).

Completion of the transfer is intended to take place on or about 6 May, 2022 (or such other date as the Transferor and the Transferee may agree) (the “Transfer Date”).

The Transferee intends to carry on the Business at 6399 San Ignacio Ave., Suite 250, San Jose, California 95119 under the name “Kinetic Technologies”.

All debts, liabilities and obligation in connection with the Business incurred by the Transferor up to and inclusive of the Transfer Date shall be borne and paid by the Transferor.

The Transferee shall not assume any of the debts, liabilities and obligations arising out of the Business by the Transferor prior to the Transfer Date.

Notice is hereby given that at the expiration of one (1) month after the date of the last publication of this notice, the liability of the Transferee (if any) for all the debts and obligations arising out of the carrying on of the Business by the Transferor shall cease by virtue of the Transfer of Businesses (Protection of Creditors) Ordinance unless proceedings are instituted prior to such expiration.

Dated the 6th day of May 2022.
Jeffrey Gray
Gain Semiconductor Limited
Suites 2606–08, China Resources Building,  26 Harbour Road, Wan Chai, Hong Kong
The Transferor

Kin Shum
Kinetic Technologies
6399 San Ignacio Ave., Suite 250, San Jose, California 95119
The Transferee