Item 1.01 Entry Into a Material Definitive Agreement
On November 20, 2015, Cambridge Projects Inc.’s (the “Company”) majority shareholder, sole director, Chief Executive Officer, Chief Financial Officer, Secretary, and Treasurer, Locksley Samuels (“Seller”), completed a private common stock purchase agreement (the “Agreement”) to sell Seller’s entire 21,600,000 shares of the Company’s common stock to Shining Glory Investments Limited (“Purchaser”) for $300,000 from Purchaser’s own funds. As of the date of this Current Report on Form 8-K, the Company has 33,001,000 shares of common stock issued and outstanding. Purchaser’s sole officer and director is Mr. Ben Wong, and as a result of the sale, a change of control has occurred as Purchaser has acquired approximately 65.45% of the Company’s common stock issued and outstanding.
Pursuant to the terms and conditions of the Agreement, Seller has resigned from his positions as the Company’s sole director, Chief Executive Officer, Chief Financial Officer, Secretary, and Treasurer, effective as of November 20, 2015.
On November 20, 2015, the Company’s board of directors (the “Board”) appointed Doris Zhou, 34, as the Company’s Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer, and board member.
Ms. Zhou earned a Bachelor’s degree in International Finance from Shenyang University in 2005. She has worked as an assistant and served as deputy general manager to the general manager of Dalian Great Wall Trade Co., Ltd. from 2007 – 2010, gaining experience with investor inquiries, investment contracts, and investor relations. Since 2010, Ms. Zhou has been an investment advisor and private equity investor in several private companies located in China, as well as managing other private equity funds.
A copy of the Agreement is incorporated by reference herein, and attached in its entirety as Exhibit 10.1 to this Current Report on Form 8-K.