Viva Biotech : PROPOSED INCREASE OF AUTHORIZED SHARE CAPITAL

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VIVA BIOTECH HOLDINGS

維亞生物科技控股集團

(Incorporated in the Cayman Islands as an exempted company with limited liability)

(Stock code: 1873)

PROPOSED INCREASE OF AUTHORIZED SHARE CAPITAL

The board (the "Board") of Viva Biotech Holdings (the "Company") proposes to increase the authorized share capital of the Company from US$50,000 divided into 2,000,000,000 shares of US$0.000025 each (the "Shares") of the Company to US$100,000 divided into 4,000,000,000 Shares of US$0.000025 each (ranking pari passu with the existing Shares in all respects upon issue, the "Increase of Authorized Share Capital"). The proposed Increase of Authorized Share Capital will provide the Company with a flexibility for future investments and fundraising and is subject to the approval of the shareholders (the "Shareholders") of the Company by way of an ordinary resolution at the extraordinary general meeting (the "EGM") of the Company.

As of the date of this announcement, the Company has (i) 1,910,846,504 Shares in issue, and (ii) shares options granted under the share incentive schemes and the share option scheme of the Company and carrying rights to subscribe for an aggregate of 40,354,514 Shares remain outstanding. The Company also may be required to issue (i) 50,321,973 Shares pursuant to certain outstanding convertible bonds of the Company, details of which are set out in the Company's announcements dated January 22, 2020, January 23, 2020, February 5, 2020 and February 11, 2020, respectively and (ii) 8,654,685 Shares as consideration shares for the acquisition of SYNthesis med chem (Hong Kong) Limited, details of which are set out in the Company's announcement dated September 21, 2020. Immediately after the completion of the Increase of Authorized Share Capital and assuming no change in the issued share capital of the Company from the date of this announcement up to the EGM, the Company will have 1,910,846,504 Shares in issue and 2,089,153,496 Shares remaining unissued.

EGM

An EGM will be held to consider and, if thought fit, pass an ordinary resolution to approve the Increase of Authorized Share Capital. A circular containing, among other things, information regarding the proposed Increase of Authorized Share Capital together with a notice of the EGM and the related proxy form will be dispatched to the Shareholders on or around September 28, 2020.

By order of the Board

Viva Biotech Holdings

Mao Chen Cheney

Chairman and Chief Executive Officer

Hong Kong, September 23, 2020

As at the date of this announcement, the Board comprises four executive Directors, namely, Mr. Mao Chen Cheney (Chairman), Mr. Wu Ying, Mr. Hua Fengmao and Mr. Ren Delin; two non-executive Directors, namely, Ms. Mao Jun and Ms. Sun Yanyan; and three independent non-executive Directors, namely, Mr. Fu Lei, Ms. Li Xiangrong and Mr. Wang Haiguang.