Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 135

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 135
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feiture of Ordinary
Shares. Our BOD may from time to time make calls upon shareholders for any amounts unpaid on their ordinary shares
in a notice served to such shareholders at least 14 days prior to the specified time and place of payment. Any ordinary shares that have
been called upon and remain unpaid are subject to forfeiture.

Redemption of Ordinary Shares. We may issue
shares that are, or at the Company’s option, or at the option of the holders of such shares are, subject to redemption on such terms
and in such manner as it may, before the issuance of the shares, determine. Under the Companies Act, shares of a Cayman Islands exempted
company may be redeemed or repurchased out of profits of the company, out of the proceeds of a fresh issue of shares made for that purpose,
out of share premium account or out of capital, provided the memorandum and articles authorize this and the company has the ability to
pay its debts as they come due in the ordinary course of business.

No Preemptive Rights. Holders of ordinary shares
will have no pre-emptive or preferential right to purchase any securities of our company.

Variation of Rights Attaching to Shares. If
at any time the share capital is divided into different classes of shares, the rights attaching to any class (unless otherwise provided
by the terms of issue of the shares of that class) may, subject to the memorandum and articles, be modified or abrogated with the sanction
of a special resolution passed at a general meeting of the holders of the shares of that class.

Anti-Takeover Provisions. Some provisions of
our current memorandum and articles of association may discourage, delay or prevent a change of control of our company or management that
shareholders may consider favorable, including provisions that authorize our BOD to issue preferred shares in one or more
series and to designate the price, rights, preferences, privileges and restrictions of such preferred shares without any further vote
or action by our shareholders.

Transfer of Ordinary Shares. Subject to the
restrictions contained in our current articles of association, any of our shareholders may transfer all or any of his or her ordinary
shares by an instrument of transfer in the usual or common form or any other form approved by our BOD.

Our BOD may, in its absolute discretion,
decline to register any transfer of any ordinary share which is not fully paid up or on which we have a lien. Our BOD may
also decline to register any transfer of any