Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 132

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 132
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 any Series A Preferred Share to any person who is not an affiliate
of the registered shareholder of such share, as determined by the Board, such Series A Preferred Share shall be automatically and immediately
converted into one Ordinary Share (the “ Automatic Conversion”). For the avoidance of doubt, (i) a sale, transfer, assignment
or disposition shall be effective upon the Company’s registration of such sale, transfer, assignment or disposition in the register
of members of the Company; and (ii) the creation of any pledge, charge, encumbrance or other third party right of whatever description
on any Series A Preferred Share to secure a holder’s contractual or legal obligations shall not be deemed as a sale, transfer,
assignment or disposition unless and until any such pledge, charge, encumbrance or other third party right is enforced and results in
the third party holding legal title to the relevant Series A Preferred Shares, in which case all the relevant Series A Preferred Shares
shall be automatically converted into the same number of Ordinary Shares; and

IV.
other than the Automatic Conversion, any conversion of Series A Preferred Shares into Ordinary Shares by a holder thereof (the “ Conversion
Shareholder”) shall be effected by means of the repurchase of each relevant Series A Preferred Share for cancellation and allotting
and issuance of an Ordinary Share, credited as fully paid (the “ Ordinary Conversion”). Both the Automatic Conversion and
the Ordinary Conversion shall become effective forthwith upon the Register of Members being updated; and

V.
all other rights of the Subject Shares will be the same as the Ordinary Shares and any other Preferred Shares.

As
of April 28, 2025, 20,769,483 Ordinary Shares are issued and outstanding and
2,000,000 Series A Preferred Share is issued or outstanding.

We incorporate by reference into this annual report
our amended and restated memorandum and articles of association, which was filed as Exhibits 3.2 and 3.3 to our registration statement
on Form F-1 (File Number 333-248684) initially filed with the Securities and Exchange Commission on September 9, 2020, as amended and
declared effective on July 12, 2022. Our shareholders adopted our amended and restated memorandum and articles of association by way of
a special resolution on July 16, 2021.

Our registered office in the Cayman Islands is located
at Cricket Square, Hutchins Drive, P. O. Box 2681, Grand Cay