Board of directors of the company waived subscription rights exceeding half of the total subscribable shares. Shares to be subscribed by designated persons

Letter received from National Medical Products Administration (NMPA) of China regarding Adagloxad Simolenin (OBI-822) Phase III clinical study to be resubmitted after supplementation
May 6, 2019
Announcement of the company’s cash capital increase and base date
June 14, 2019
  1. Date of occurrence of the event: Jun 10, 2019
  2. Reason for the forfeiture of subscription rights by the directors and supervisors: Overall investment strategy and financial planning considerations.
  3. Names of the directors and supervisor, number of shares forfeited, and their ratio to total subscribable shares:
    (1)Director: Yi Tai Investment Co., Ltd.
    Waived: 1,674,226 shares, ratio to total subscribable shares: 100%
    (2)Director: Sheng Cheng Investment Co., Ltd.
    Waived: 0 share, ratio to total subscribable shares: 0%
    (3)Independent Director: Jerry Fong, Tony Chang and Taychang Wang do not hold any existing share thus no subscribable share is allotted.
  4. Name(s) of the specific person(s) and number(s) of shares subscribed: All shares waived by above directors have been distributed to designated persons based on the issued price.
  5. Any other matters that need to be specified: none