Fan Yu - Dec 31, 2021 Form 5 Insider Report for East Stone Acquisition Corp (ESSC)

Role: 10%+ Owner
Signature: /s/ Fan Yu
Stock symbol: ESSC
Transactions as of: Dec 31, 2021
Transactions value $: $0
Form type: 5
Date filed: 2/14/2022, 03:10 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ESSC	Ordinary Shares, no par value	Sale		-135K	-8.1%		1.53M	Nov 24, 2021	By Double Ventures Holdings Limited	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On November 24, 2021, Double Ventures Holdings Limited (the "Sponsor") transferred an aggregate of 135,000 ordinary shares of the Issuer to certain backstop investors, pursuant to certain share transfer agreements, dated November 12, 2021, in consideration of backstop investors' agreement to certain restrictions on transfer and redemption of their public shares and their favorable votes for the extension of the Issuer's timeframe to complete an initial business combination and to approve the initial business combination.
F2	The Reporting Person owns 66.7% of the Sponsor and shares voting and investment discretion with respect to the ordinary shares held by the Sponsor. Accordingly, the Reporting Person may be deemed to have or share voting and investment discretion with respect to the ordinary shares held by the Sponsor. The Reporting Person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest she may have therein, directly or indirectly.

Content

On November 24, 2021, Double Ventures Holdings Limited (the "Sponsor") transferred an aggregate of 135,000 ordinary shares of the Issuer to certain backstop investors, pursuant to certain share transfer agreements, dated November 12, 2021, in consideration of backstop investors' agreement to certain restrictions on transfer and redemption of their public shares and their favorable votes for the extension of the Issuer's timeframe to complete an initial business combination and to approve the initial business combination.

The Reporting Person owns 66.7% of the Sponsor and shares voting and investment discretion with respect to the ordinary shares held by the Sponsor. Accordingly, the Reporting Person may be deemed to have or share voting and investment discretion with respect to the ordinary shares held by the Sponsor. The Reporting Person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest she may have therein, directly or indirectly.