Company: ANPCF
Filing Date: 2025-11-19
Form Type: 424B3
Source: 0001193805-25-001618
Chunk: 20

Company: ANGLE plc
Filing Date: 2025-11-19
Form: 424B3
Chunk 20
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 been declared effective), the Depositary may dispose of all or a portion of such property
(including Shares and rights to subscribe therefor) in such amounts and in such manner, including by public or private sale, as the Depositary
deems necessary and practicable, and the Depositary shall distribute the net proceeds of any such sale (after deduction of (a) taxes and
(b) fees and charges of, and the expenses incurred by, the Depositary) to Holders entitled thereto upon the terms of Section 4.1
of the Deposit Agreement. The Depositary shall hold and/or distribute any unsold balance of such property in accordance with the provisions
of the Deposit Agreement. Notwithstanding anything contained in the Deposit Agreement to the contrary, in the event the Company fails
to give the Depositary timely notice of the proposed distribution provided for above, the Depositary agrees to use commercially reasonable
efforts to perform the actions contemplated in Section 4.2 of the Deposit Agreement, and the Company, the Holders and the Beneficial Owners
acknowledge that the Depositary shall have no liability for the Depositary’s failure to perform the actions contemplated in Section
4.2 of the Deposit Agreement where such notice has not been so timely given, other than its failure to use commercially reasonable efforts,
as provided herein.

<div align='center'>B-14</div>

(c) Elective Distributions in Cash or Shares: Upon the timely receipt of a notice (as described in Section 4.3 of the Deposit Agreement) indicating that
the Company wishes an elective distribution in cash or Shares to be made available to Holders of ADSs upon the terms described in the
Deposit Agreement, the Company and the Depositary shall determine in accordance with the Deposit Agreement whether such distribution is
lawful and reasonably practicable. The Depositary shall make such elective distribution available to Holders only if (i) the Company shall
have timely requested that the elective distribution be made available to Holders, (ii) the Depositary shall have determined, upon
consultation with the Company, that such distribution is reasonably practicable and (iii) the Depositary shall have received reasonably
satisfactory documentation within the terms of Section 5.7 of the Deposit Agreement. If the above conditions are satisfied, the Depositary
shall, subject to the terms and conditions of the Deposit Agreement, establish the ADS Record Date according to paragraph (16) of this
ADR and establish procedures to enable the Holder hereof to