Immunotech Biopharm Ltd — Director's Dealing 2022

Oct 27, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Immunotech Biopharm Ltd 永泰生物製藥有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6978)

VOLUNTARY ANNOUNCEMENT INCREASE IN SHAREHOLDING BY A DIRECTOR AND CONTROLLING SHAREHOLDER

This announcement is made by Immunotech Biopharm Ltd (the “ Company ”) on a voluntary basis to provide information to its shareholders (the “ Shareholders ”) and potential investors.

The board (the “ Board ”) of directors (the “ Directors ”) of the Company was informed by Mr. Tan Zheng (“ Mr. Tan ”), an executive Director, the chairman of the Company (the “ Chairman ”) and a controlling shareholder of the Company, that on 27 October 2022 (after trading hours), Tan Zheng Ltd (Mr. Tan’s solely owned investment holding company) acquired a total of 13,714,286 ordinary shares of the Company (the “ Shares ”) (representing approximately 2.67% of the total issued share capital of the Company as of the date of this announcement) (the “ Sale Shares ”) from Hui Shi Dan Kun Ltd, one of the Passive Minority Shareholders (as defined in the prospectus of the Company dated 29 June 2020 (the “ Prospectus ”) (the “ Acquisition ”). In view of the proxy agreement dated 29 August 2019 (the “ Proxy Agreement ”, please refer to the Prospectus for details), both Mr. Tan and Tan Zheng Ltd continue to be entitled to exercise the same percentage of voting rights in the Company immediately before and after the Acquisition.

Pursuant to the Proxy Agreement, the Passive Minority Shareholders have entrusted their voting rights at any general meeting of the Company to Tan Zheng Ltd, such that it may exercise such voting rights with absolute discretion and hence it is deemed to be interested in the Shares held by the Passive Minority Shareholders. Immediately following the Acquisition, both Mr. Tan and Tan Zheng Ltd remain deemed to be interested in an aggregate of 180,480,000 Shares (representing approximately 35.07% of the total issued share capital of the Company), which comprise of (i) voting rights of 142,080,000 Shares (representing approximately 27.61% of the total issued share capital of the Company) entrusted to Tan Zheng Ltd by the Passive Minority Shareholders pursuant to the Proxy Agreement; and (ii) 38,400,000 Shares (representing approximately 7.46% of the total issued share capital of the Company) directly owned and held by Tan Zheng Ltd, and Hui Shi Dan Kun Ltd has ceased to be a Passive Minority Shareholder.

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Also, Mr. Tan is interested as a grantee of options to subscribe for up to 5,000,000 Shares under the Pre-IPO Share Option Scheme (as defined in the Prospectus).

Based on the information available to the Company and to the best knowledge of the Board, following the Acquisition and as at the date of this announcement, the Company has continued to maintain sufficient public float of the issued Shares in compliance with Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Shareholders and potential investors of the Company are reminded to exercise caution in dealing with the securities of the Company.

By Order of the Board Immunotech Biopharm Ltd Tan Zheng Chairman and executive Director

Hong Kong, 27 October 2022

As at the date of this announcement, the Board comprises Mr Tan Zheng as Chairman and executive Director, Dr Wang Yu and Mr Jung Hyun Chul as executive Directors, Mr Tao Ran, Mr Si Xiaobing and Mr Lu Yuan as non-executive Directors, and Professor Wang Yingdian, Mr Ng Chi Kit and Ms Peng Sujiu as independent non-executive Directors.

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