| Schedule of Principal Subsidiaries |
The details of the principal subsidiaries of
the Company are set out as follows:
| Name of Company |
|
Place of Incorporation |
|
Date of Incorporation |
|
Acquisition Date |
|
Attributable Equity
Interest % |
|
|
Business |
| 12 Hong Kong Limited (“12HK”) |
|
Hong Kong, China |
|
February 2, 2014 |
|
June 27, 2017 |
|
|
100 |
% |
|
Development and sales of technology applications |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 12 Retail Corporation (“12 Retail”) |
|
Arizona, USA |
|
Sept. 18, 2017 |
|
Formed by 12 ReTech Corporation |
|
|
100 |
% |
|
As a holding Company to execute the Company’s roll up acquisition strategy as well as to penetrate the North American market with our technology to select retailers. |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Red Wire Group, LLC |
|
Utah, USA |
|
July 2, 2015 |
|
February 19, 2019 |
|
|
100 |
% |
|
A subsidiary of 12 Retail and is part of the brand acquisition strategy. Operates its own “cut & sew” factory for independent third party brands who contract us to produce their apparel products. |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Rune NYC, LLC |
|
New York, USA |
|
Jan 23, 2013. |
|
March 14, 2019 |
|
|
92.5 |
% |
|
A subsidiary of 12 Retail and is part of the brand acquisition. Operates contemporary women’s ‘Athleisure’ brand which is primarily sold to retailers. |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 12 Japan Limited (“12JP”) |
|
Tokyo, Japan |
|
February 12, 2015 |
|
July 31, 2017 |
|
|
100 |
% |
|
Consultation and sales of technology applications |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 12 Europe AG (“12EU”) |
|
Zurich, Switzerland |
|
August 22, 2013 |
|
October 26, 2017 |
|
|
100 |
% |
|
Inactive as of August 20, 2019 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Bluwire Group, LLC (“Bluwire”) |
|
Florida, USA |
|
|
|
October 1, 2019 |
|
|
51% |
|
|
As a subsequent event, this 12 location retailer was acquired. |
|