Hong Kong, SAR, China--(Newsfile Corp. - October 21, 2026) - ZTE (H.K.) Limited ("ZTE HK") announces that on October 20, 2026 it sold part of its holding, being 1,000 common shares ("Shares"), of Enablence Technologies Inc. (TSXV: ENA) ("Enablence") through the facilities of the TSX Venture Exchange (the "TSXV") at a price of C$6.30 per Share, for aggregate gross proceeds of C$6,300 (the "Disposition").
Immediately before the Disposition, ZTE HK held 791,666 Shares, representing approximately 3.26% of the issued and outstanding Shares. Immediately after the Disposition, ZTE HK holds 790,666 Shares, representing approximately 3.25% of the issued and outstanding Shares. These percentages are based on 24,298,195 Shares issued and outstanding, as most recently reported by Enablence.
ZTE HK last filed an early warning report in respect of Enablence on February 5, 2016, when it held 95,000,000 Shares (equivalent to 791,666 Shares after Enablence's 1-for-120 share consolidation on November 17, 2021), representing approximately 19.11% of the Shares then outstanding. ZTE HK did not acquire or dispose of any Shares between that report and the Disposition. Since February 2016, ZTE HK's securityholding percentage has decreased, and has been less than 10% since December 2021, solely as a result of issuances of Shares from treasury by Enablence and without any action being taken by ZTE HK. ZTE HK relied on the exemption in section 6.1 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") in respect of those decreases. As required by that section, ZTE HK is issuing this news release and filing an early warning report as a result of the Disposition to reflect the changes in its securityholding percentage since February 2016, including the decrease to less than 10%.
ZTE HK acquired the Shares for investment purposes. ZTE HK intends to dispose of some or all of its remaining Shares from time to time, through the facilities of the TSXV, in privately negotiated transactions or otherwise, depending on market conditions and other factors. ZTE HK has no current intention to acquire additional securities of Enablence and has no other plans or intentions relating to the matters set out in Item 5 of Form 62-103F1. Following the filing of the early warning report, ZTE HK will not be required to file further early warning reports in respect of dispositions of its remaining Shares.
In connection with its investment in February 2016, ZTE HK entered into a voting agreement with Enablence and certain shareholders of Enablence providing for the nomination and election of one nominee of ZTE HK to the board of directors of Enablence for so long as ZTE HK and its affiliates owned 10% or more of the outstanding Shares. ZTE HK's nominee resigned from the board on November 16, 2020, on which date ZTE HK also waived its right to nominate a director, and those provisions terminated in accordance with their terms when ZTE HK's holding decreased to less than 10% in December 2021. ZTE HK's right under its subscription agreement with Enablence to participate in future issuances of securities of Enablence, and the related covenants of Enablence, also terminated at that time.
This news release is issued under the early warning provisions of Canadian securities legislation (National Instrument 62-104 Take-Over Bids and Issuer Bids and NI 62-103). An early warning report will be filed with the applicable securities regulatory authorities and will be available under Enablence's profile on SEDAR+ at www.sedarplus.ca. A copy of the report may also be obtained by contacting Mr. Lu Shaoming, Director of ZTE HK at +852 2519 8993.
Enablence's head office is located at 390 March Road, Suite 119, Ottawa, Ontario K2K 0G7. ZTE HK is a company incorporated under the laws of Hong Kong and a wholly-owned subsidiary of ZTE Corporation. Its principal business is overseas business platform and new business development. ZTE HK's address is Units 1206-07, 12/F, Berkshire House, 25 Westlands Road, Quarry Bay, Hong Kong.
For further information, please contact:
Lu Shaoming
Director
ZTE (H.K.) Limited
Telephone: +852 2519 8993
Email: lu.shaoming@zte.com.cn
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320102
