Innovax Holdings Limited (the Company, Stock Code: 2680) and Mr. Wang Tingfa (the Offeror) released a joint announcement providing a monthly update on the possible unconditional mandatory cash offer for all issued shares of the Company not already owned or agreed to be acquired by the Offeror or parties acting in concert with him.

According to the announcement, the making of the offer depends on completion of the underlying Sale and Purchase Agreement, which remains subject to certain conditions precedent. One key condition involves the Offeror’s application to the Securities and Futures Commission (SFC) for approval to become a substantial shareholder of the regulated group companies of Innovax Holdings. The Offeror submitted the relevant applications on 27 October 2025 and continues to address inquiries from the SFC. All conditions for the potential offer were reported as not yet satisfied or waived.

The Company also reports that a circular detailing the disposal agreement and related items was dispatched to shareholders on 17 November 2025. An extraordinary general meeting (EGM) to vote on the disposal is scheduled for 5 December 2025.

Further monthly updates will be released as appropriate. The announcement reiterates that the possible offer is contingent on the completion of the Sale and Purchase Agreement and advises shareholders and potential investors to exercise caution when dealing in the Company’s shares.