IPE Universal Inc. (IPEU)

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$KYNS Departure and appointment of directors; Sales of equity securities ; Changes in control of issuer
Press Release | 10/05/2020
Departure of directors or principal officers; election of directors; appointment of principal officers

On September 24, 2020, the Board of Directors of Keynes Technology Co Ltd. (the "Company") appointed Ms. Pi-Lien Kuo ("Ms. Kuo"), aged 67, to act as the new Director of the Company.



On September 24, 2020, Mr. Ruei-Peng Chu ("Mr. Chu") resigned from the position of Director of the Company. Mr. Chu served in this position since April 4, 2019.



On September 24, 2020, Ms. Hsiang-Lin Yen ("Ms. Yen") resigned from the position of Director of the Company. Ms. Yen will remain as the Secretary and Treasurer of the Company.



The biography for the new Director of the Company is set forth below:



Ms. Kuo graduated from San Sin High School of Commerce and Home Economics with accounting major in Taiwan in 1971. Ms. Kuo has been working in CPC Corporation, Taiwan from 1971 to 2018. Ms. Kuo started as an accounting clerk and promoted to CFO throughout her career. CPC Corporation, Taiwan manufactures petroleum products. CPC Corporation, Taiwan explores, develops, refines, transports, and markets gasolines, diesel oils, fuel oils, and other products. CPC Corporation, Taiwan provides its services throughout Taiwan. Ms. Kuo was responsible for financial management and cashier management for CPC Corporation, Taiwan.


Sales of equity securities

On September 25, 2020, the Company completed the issuance and sale of an aggregate of 5,390,000 shares at a price of $0.001 per share with each share consisting of one share of the Companys common stock, par value $0.001 per share (the Common Stock) in a private placement to Pi-Lien Kuo, Pei-Fen Lee, Shang-Chih Hsu and Jia-Yin Tsai (the Purchasers), pursuant to the Subscription Agreements dated as of September 25, 2020 between the Company and the Purchasers. The proceeds to the Company amounted to $5,390 and went directly to the Company as working capital.



The shares sold in the private placement were issued in reliance on an exemption from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof. The bases for the availability of this exemption include the facts that the issuance was a private transaction which did not involve a public offering and the shares were offered and sold to a limited number of investors.



Changes in control of issuer

As a result of a private placement on September 25, 2020 between the Company and Pi-Lien Kuo, as described above, Pi-Lien Kuo became the controlling shareholder of the Company. The consideration paid for the Shares, which represent 69.08% of the enlarged issued and outstanding share capital of the Company on a fully-diluted basis, was $3,800.The source of the cash consideration for the Shares was personal fund of Pi-Lien Kuo.



There are no arrangements or understandings among members of both the former and new control persons, officers, directors, and their associates with respect to the election of directors of the Company or other matters.



Keynes Technology Co Ltd., (stock code KYNS) commits to the provision of service and technology products for preschool education, and the research, development, and expansion of educational service-related software suitable for children in preschool education. Through the feedback of the cerebrum, we will respond with the learning content that is most suitable for children for the best learning effect. Keynes Technology Co Ltd. will construct an advanced cognitive and thinking cloud platform. Through the capital markets, we will seek financing worldwide for upgrading industrial development and technology leadership.