Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 137

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 137
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 authorized representative representing not less than one-third of all
voting power of our share capital in issue.

Exempted Company. We are an exempted company
incorporated with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted
companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to
be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except
that an exempted company:

  does not have to file an annual return of its shareholders with the Registrar of Companies;                                                        
  is not required to open its register of members for inspection to the public;                                                                      
  does not have to hold an annual general meeting;                                                                                                   
  may issue shares with no par value;                                                                                                                
  may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the first instance);  
  may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;                                             
  may register as a limited duration company; and                                                                                                    
  may register as a segregated portfolio company.                                                                                                    

“ Limited liability” means that the liability
of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company.

  83  

Preferred Shares

Each of the class or classes (however designated)
as the BOD may determine in accordance with these articles of association. Subject to the Companies Act (As Revised), any
preferred shares may be issued or converted into shares that, at a determinable date or at the option of the Company or the holder thereof,
are to be redeemed or are liable to be redeemed on such terms and in such manner as the BOD may in its absolute discretion
determine.

In particular and without prejudice to the generality
of the foregoing, the Board is empowered to authorize by resolution or resolutions from time to time the issuance of one or more classes
or series of preferred shares and to fix the designations, powers, preferences and relative, participating, optional and other rights,
if any, and the qualifications, limitations and restrictions thereof, if any, including, without limitation, the number of shares constituting
each such class or series, dividend rights, conversion rights, redemption privileges, voting powers, full or limited or no voting powers,
and liquidation preferences, and to increase or decrease the size of any such