The Board of Directors of XOX Bhd (“XOX” or “the Company”) wishes to announce that XOX (Hong Kong) Limited (“XOX HK”), a wholly-owned subsidiary of the Company, had 18 January 2021 subscribed 250,000,000 new ordinary shares with 125,000,000 free Warrants C of DGB Asia Berhad (“DGB”) for the total consideration of RM30,000,000 (“Subscription Consideration”) in cash via the subscription of the rights shares and excess right shares of DGB at an issue price of RM0.12 each, representing 22.39% of the enlarged share capital in DGB (“Subscription”).

Further details of the Subscription are set out in the attachment herein.

This announcement is dated 25 January 2021.