Mr. Wang Tingfa has made a possible unconditional mandatory cash offer, through AFG Securities Limited, to acquire all issued shares of Innovax Holdings Limited not already owned or agreed to be acquired by him and parties acting in concert with him. A recent joint update provided by Innovax Holdings Limited and Mr. Wang Tingfa confirmed that shareholders have received the Composite Document, which includes recommendations from the Independent Board Committee and advice from the Independent Financial Adviser regarding the offer. Further updates on the progress of the offer are expected as the process continues.

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