ANGELALIGN(06699): Proposed termination of the first public offering after the purchase of stock rights plan and proposed revision of the first public offering after the restricted share unit plan and updating of the restricted share unit plan limit after the first public offering.

ANGELALIGN (06699) announced that according to the terms of the initial public offering after-purchase stock rights plan, the initial public offering after-purchase stock rights plan will be valid and effective for a period of 10 years starting from the adoption date. However, the company may terminate the operation of the initial public offering after-purchase stock rights plan at any time through a resolution of the board of directors or a resolution passed by the shareholders at a general meeting. In this case, no further stock rights will be granted, but the provisions of the initial public offering after-purchase stock rights plan will continue to be in full force and effect to allow for the exercise of stock rights that have already been granted but not yet exercised before the termination, or as otherwise specified by the initial public offering after-stock rights plan if necessary. Stock rights that have already been granted but not yet exercised before the termination will continue to be valid and exercisable in accordance with the initial public offering after-purchase stock rights plan. Given that (i) the company believes that using restricted share units as the main long-term incentive tool better meets its current employee incentive needs; and (ii) the termination of the initial public offering after-purchase stock rights plan will not affect any rights attached to stock rights already granted to any grantee under the initial public offering after-purchase stock rights plan, the company proposes to convene a special general meeting of shareholders where an ordinary resolution will be put forward for consideration and approval to terminate the initial public offering after-purchase stock rights plan. Considering that the quota for the initial public offering after restricted share unit plan is close to being fully utilized and in order to provide effective long-term incentive to the directors, management, and employees of the group, the board of directors gladly announced that they have decided to increase the quota for the initial public offering after restricted share unit plan from 2% of the issued share capital (excluding treasury shares) on the amendment date to 8%. When determining the number of grants that may be issued under the updated quota of the initial public offering after restricted share unit plan, the board of directors will carefully consider a range of factors, including market conditions, the group's incentive needs and performance, and expect that the total number of grants over the next three years will not exceed 4.5% of the issued share capital (excluding treasury shares) on the amendment date.