Panjit International : Announcement on behalf of major subsidiary PAN-JIT ASIA INTERNATIONAL INC. the board of director's resolution of Capital reduction .

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Provided by: PANJIT INTERNATIONAL INC.
SEQ_NO	1	Date of announcement	2022/08/10	Time of announcement	16:03:10
Subject	Announcement on behalf of major subsidiary PAN-JIT ASIA INTERNATIONAL INC. the board of director's resolution of Capital reduction .
Date of events	2022/08/10	To which item it meets	paragraph 11
Statement	1.Date of the board of directors resolution:2022/08/10 2.Reason for capital reduction:Base on the group's funds planning, it proposed to reduce capital and refund cash to parent company. 3.Amount of capital reduction:USD30,000,000 4.Cancelled shares:30,000,000 shares 5.Capital reduction percentage:12.29% 6.Share capital after capital reduction:USD214,086,493 7.Scheduled date of the shareholders meeting:N/A 8.Estimated no.of listed common shares after issuance of new shares upon capital reduction:N/A 9.Estimated ratio of listed common shares after issuance of new shares upon capital reduction to outstanding common shares:N/A 10.Please explain any countermeasures for lower circulation in shareholding if the aforesaid estimated no.of listed common shares upon capital reduction does not reach 60 million and the percentage does not reach 25%:N/A 11.The record date for capital reduction:N/A 12.Any other matters that need to be specified:None.