Full Press Release Details
JOINT VENTURE AGREEMENT (the "Agreement") is made and entered and effective as of September 2, 2021,
a "Party" and collectively the "Parties").
AGREEMENT WITNESSES as follows:-
| " Board " | Board of directors of the Company; | |
| " Control " | In the case of a company, the possession, directly or indirectly, of the power to control the voting rights of 50% or more of the issued capital of a person or the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract or otherwise; | |
| " Designated Markets " | The countries and/or regions designated from time to time by the Board, which as at the date of this Agreement, shall be ASEAN countries, India, Japan, Australia and New Zealand; | |
| " Shareholder " | Shareholder of the Company; | |
| " Share " | Share of the Company; | |
| " Simple Majority " | No less than 50%; | |
| " Supermajority " | No less than 75%; | |
| " TCM " | traditional Chinese medicine; |
importing the singular include the plural and vice versa and references to one gender include all genders.
| Subscriber | Percentage of shareholding in the Company | |||
| Regencell | 60 | % | ||
| Honor Epic | 40 | % |
"Relative Shareholding")
| Nominating Party | Director | |
| Regencell | Yat-Gai Au James Wai Hong Chung | |
| Honor Epic | Ji Yang Lee |
copy of the offer from the third party acquirer shall be appended to the Selling Notice.
WHEREOF, the parties have executed this Agreement as of the date first written above.
| /s/ Yat-Gai Au | |
| Yat-Gai Au | |
| Director | |
| Regencell Bioscience Limited |
| /s/ Ji Yang Lee | |
| Ji Yang Lee | |
| Director | |
| Honor Epic |