iX Biopharma Ltd. Extraordinary General Meeting Approves Key Share Issuances and CEO Share Award

Singapore, 8 May 2026 — iX Biopharma Ltd. convened its Extraordinary General Meeting (EGM) on 8 May 2026, resulting in several significant resolutions that could have a material impact on the company’s capital structure, governance, and share price. The EGM, chaired by CEO Mr Eddy Lee Yip Hang, saw robust shareholder participation and the approval of share issuances to major stakeholders, board members, and a substantial performance award to the CEO.

Key Resolutions Passed

• Allotment and Issuance of Shares to Substantial Shareholder:
  Shareholders approved the proposed allotment and issuance of 1,045,164 new shares to Anson Properties Pte. Ltd., a substantial shareholder. This placement was subject to Rule 805(1) and Rule 812 of the Catalist Rules due to Anson Properties holding more than 5% of the company’s shares, which necessitated shareholder approval. The placement was executed at prevailing market price and is intended to bolster the company’s general working capital. Anson Properties and its associates abstained from voting on this resolution.
• Issuance of Shares to Directors in Lieu of Cash Fees:
  The EGM also approved the issuance of new shares to several directors as part of their compensation for the period from 1 October 2025 to 31 March 2026, in lieu of cash payments. The directors and their associates abstained from voting on their respective resolutions:
  
  • 106,168 shares to Mr Patrick Donald Davies (Lead Independent Director & Chair of Nominating and Remuneration Committees)
  • 99,051 shares each to Mr Teo Woon Keng John and Mr Albert Ho Shing Tung

  The issue price was set at S\$0.4215 per share, based on the volume-weighted average price (VWAP) at the time of announcement, with no discount applied.

• Significant Share Award to CEO:
  Approval was granted for a grant of 3,036,996 shares to CEO Eddy Lee Yip Hang under the iX Performance Share Plan. The award will vest in three equal tranches over three years (immediately, February 2027, and February 2028). This substantial award, while under the current share plan, raised questions among shareholders regarding its structure and potential to push the CEO’s shareholding towards 30%, which could trigger a mandatory general offer under Singapore’s Code on Take-overs and Mergers.

Poll Voting Results

Shareholder Q&A Highlights & Potential Price-Sensitive Issues

• Strategic Use of Placement Proceeds: Proceeds from the Anson Properties placement will be used for general working capital, as stated in the company’s circular. Investors should monitor how these funds are deployed.
• Director Compensation in Shares: The board’s decision to pay director fees in shares rather than cash aligns interests with shareholders and conserves cash, a move that may be interpreted as positive for capital management.
• CEO’s Shareholding and Corporate Control: A shareholder raised concerns about the CEO’s growing equity stake. Should the CEO’s shareholding exceed 30%, a mandatory general offer could be triggered, impacting the company’s control and possibly its market valuation. This is a key issue for investors to monitor going forward.
• Performance Share Plan Structure: Shareholders suggested revising the structure of performance awards to more clearly tie them to time or milestone achievements, especially with regard to potential future listings (such as on NASDAQ). The board reiterated that the current plan is adequate for now but left room for future review.

Other Noteworthy Points

• Motions were proposed without a seconder—a practice now common to streamline meetings, but shareholders were still allowed to question each motion.
• Questions on the company’s future business or prospects were deferred to the Annual General Meeting, as the company was in a blackout period ahead of its third-quarter results.

Conclusion

All resolutions were duly passed with strong shareholder support. Key takeaways for investors include the expansion of the company’s capital base, the alignment of director and management incentives with shareholders through share-based compensation, and the potential implications of the CEO’s increasing shareholding. These developments could have a material effect on future governance, control, and share price performance.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own due diligence and consult their professional advisers before making any investment decisions.

艾思生物制药有限公司股东特别大会通过关键发股与CEO股权奖励——投资者须知

新加坡，2026年5月8日——艾思生物制药有限公司（iX Biopharma Ltd.）于2026年5月8日召开了股东特别大会（EGM），会议通过多项可能对公司资本结构、治理及股价产生重大影响的重要决议。本次EGM由董事长兼首席执行官李业恒先生主持，股东积极参与，并批准向主要股东、董事及CEO授予大量股份奖励。

主要通过的决议

• 向主要股东定向配售股份：
  股东批准向主要股东安盛地产私人有限公司（Anson Properties Pte. Ltd.）增发1,045,164股新股。根据Catalist上市规则第805(1)及812条，安盛地产持股超过5%，需要股东批准。此次配售按市场价进行，所得资金将全部用于公司一般营运资金。安盛地产及其联属方回避投票。
• 以股份形式向董事支付报酬：
  会议还批准向多位董事发放新股，作为2025年10月1日至2026年3月31日期间的报酬，以股份代替现金。相关董事及其联属方在各自议案中回避投票：
  
  • 向首席独立董事兼提名与薪酬委员会主席Patrick Donald Davies先生发行106,168股
  • 分别向Teo Woon Keng John先生和Albert Ho Shing Tung先生各发行99,051股

  发售价为每股S\$0.4215，按公告时的加权平均价（VWAP）确定，无折让。

• 向CEO授予大量股权奖励：
  会议批准根据iX绩效股份计划向CEO李业恒先生授予3,036,996股奖励股，分三年等额归属（即日、2027年2月及2028年2月）。鉴于CEO持股比例持续上升，股东现场质询该奖励计划结构，以及是否有可能触发《新加坡收购与合并守则》下的强制全面要约（30%持股红线）。

投票结果一览

股东问答及潜在价格敏感事项

• 配售资金用途：安盛地产定向配售资金将全部用于一般运营资金，投资者应关注资金使用进展。
• 以股份支付董事报酬：董事选择以股份而非现金领取报酬，有助于董事与股东利益一致，同时节省公司现金流，对资本管理为积极信号。
• CEO持股比例与公司控制权：有股东关注CEO持股比例上升问题。若其持股突破30%，将触发强制全面要约机制，对公司控制权及股价可能产生影响，投资者需持续关注。
• 绩效股份奖励结构：有股东建议将绩效奖励与时间或具体里程碑挂钩，尤其可激励公司赴纳斯达克上市。董事会认为现有计划暂时适用，未来视需要评估调整。

其他关注点

• 动议无须二人提名，旨在简化会议流程，但股东仍可就每项动议提问。
• 有关公司未来业务及展望的问题将留待年度股东大会讨论，因公司正处财报静默期。

结论

所有议案均获高票通过。本次EGM要点包括公司资本扩充、董事及管理层利益与股东进一步一致，以及CEO持股比例变化对公司治理与潜在控制权变动的影响，均可能对公司后续治理结构及股价表现产生实质性影响。

免责声明：本文仅供信息参考，不构成任何投资建议。投资者应自行尽职调查，并咨询专业顾问后再作投资决策。

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