This is a notice from Modern Avenue Fashion Group Co., Ltd. regarding the lifting of restrictions on shares obtained by shareholders through judicial procedures. The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Special Reminder:
- The number of shares that can be released from restrictions is 10,048,565 shares, accounting for 1.41% of the company's total share capital of 712,519,844 shares.
- The listing date for the released shares is June 9, 2026 (Tuesday).
I. Issuance of Shares and Company Capital Situation
(1) Issuance of Shares
The company held the fourth meeting of the third board of directors on June 8, 2015, and the second extraordinary general meeting of shareholders on June 24, 2015, to review and approve relevant proposals regarding the conditions for non-public issuance of shares. Additionally, the company held the seventh and eighth meetings of the third board of directors on November 20, 2015, and January 8, 2016, respectively, to approve adjustments to the non-public issuance plan. According to the adjusted pricing principles, the base date for the issuance price was the announcement date of the board resolution, with a price not lower than 90% of the average trading price over the previous 20 trading days, which was 15.25 yuan/share. The total number of shares issued was not to exceed 56.8 million shares, raising no more than 866.2 million yuan. If there were any ex-rights or ex-dividend events between the base date and the issuance date, the issuance price and quantity would be adjusted accordingly. The non-public issuance project was approved by the China Securities Regulatory Commission (CSRC) on February 1, 2016.
(2) Company Capital Situation
On May 16, 2016, the company held the annual general meeting for 2015 and approved the profit distribution and capital reserve conversion plan. The profit distribution plan for 2015 was based on a total share capital of 200,000,000 shares as of December 31, 2015, with a conversion of 6 shares for every 10 shares held, totaling 120,000,000 shares, increasing the total share capital to 320,000,000 shares. A cash dividend of 1.10 yuan (tax included) per 10 shares was distributed, totaling 22,000,000 yuan (tax included). The profit distribution plan was implemented on May 26, 2016. Based on these circumstances, the issuance price for the non-public issuance was adjusted from 15.25 yuan/share to 9.47 yuan/share, and the number of shares was adjusted from not exceeding 56,800,000 shares to not exceeding 91,467,790 shares. On June 4, 2016, the company received approval from the CSRC for the non-public issuance of shares. The company issued 89,921,837 shares at a price of 9.47 yuan/share to ten subscribers, raising a total of 851,559,796.39 yuan. These shares were registered on July 25, 2016, and listed on August 2, 2016.