Vonpende Holdings PLC

AGM Information • Jan 8, 2020

Attention of: Cyprus Stock Exchange ("CSE") Lord Byron Avenue 71-73 1096 Nicosia

08/01/2020

Dear Sirs,

SUBJECT: Letter by the CSE dated 18 December 2019 addressed to VONPENDE HOLDINGS P.L.C. (the "Company" or the "Group")

By reference to your letter dated 18 December 2019, please be informed as follows:

One of the priorities of the Company, following its admission to the Emerging Companies Market of the CSE, has been to follow the course of expansion into new markets for the purposes of asset and risk diversification, as per the objectives in its Business Plan as outlined in its Admission Document dated 20 December 2015.

We highlight below the following events indicating the Company's commitment to its original Business Plan:

• · During year 2019, after extensive market research and thorough analysis, the Company acquired 67% in Winncom Technologies Holding Limited (Ireland), a worldwide distributor and provider of complete networking solutions, wireless and wired, and 100% in Linxton Investments Limited (Cyprus), a holding company for commercial real estate assets located in Moscow, Russian Federation.
• · The Company held an Extraordinary General Meeting, in August 2019, to consider a potential proposed investment by a Cypriot Registered Alternative Investment Fund, regulated by CySEC pursuant to an investment term sheet at the level of 25% of the Company's issued share capital through private placement, at a price within the range of EUR 14,00 to EUR 16,00 per share, which is in line with the Company's investment objectives. In addition, it is noted that the Investor is believed to bring in knowledge and experience in areas which the Company intends to focus on in the following years.
• · The Company has also increased of its authorised share capital, as follows:
  • o from current EUR 2.295.000,00 divided into 183,600 ordinary shares of EUR 12,5 per share;
  • o to EUR 3.170.000,00 with the addition of 70,000 ordinary shares of EUR 12,5 per share.
• · Among the goals set, is the further expansion on the local Cypriot market. In 2019, the Company evaluated a number of presented business and investment projects, engaging expert consultants mostly in Cyprus, but also experts based abroad, to advise on specific industries and sectors. The Board held meetings in Cyprus to discuss the investment opportunities, travelled also to other EU and non-EU states to meet with experts and source the appropriate advice and networking supporting its investment plans. Certain investment opportunities did not proceed as during the course of the due diligence process it became obvious they were not the right ones for the Company. However, the Company continues to evaluate existing and to look for new potential projects as it continues to enhance its investments in Cyprus. The preferred investment sectors are real estate development, hotel and hospitality, energy and medical sectors.
• · True to its corporate social responsibility plan, the Company sponsored the ETHA EGKOMI basketball team and the 1st Photographic Competition 2019 orqanized by Kinanis LLC. The Competition took place in November and attracted artists and photo enthusiasts, with the submission of 95 contesting photographs and 36 photographers.
• · The Company is committed to continue promoting its corporate growth to maximize its profits and returns for its shareholders.