TYK MEDICINES-B (02410.HK): H Share Subscription Agreement Lapses at Long-stop Date, 63.22 Million Shares
- The Board considers the lapse will not have any material adverse impact on the Group's business operations and financial position.
- The licensing and cooperation agreement and the supply and commercialisation agreement remain unaffected, and Qilu and the Company will continue to observe their respective obligations.
- Both parties remain willing to cooperate on the share subscription, with specific details still under negotiation.
NewTimeSpace News: On 20 September 2026, Zhejiang TYK Medicines, Inc (stock code: 02410) announced that, as disclosed in its announcements dated 21 July 2026 and 20 August 2026, the Company had entered into licensing and cooperation arrangements with Qilu and proposed to issue 63,222,744 H shares to the subscriber. As the conditions precedent to the subscription were not fulfilled or waived by the revised long-stop date of 20 September 2026, the subscription agreement lapsed at the end of that day in accordance with its terms.
The announcement stated that, after careful consideration of current market conditions and recent movements in the share price, the Company and Qilu mutually agreed not to further extend the revised long-stop date. Thereafter, save for any prior breaches, neither party shall have any obligations or liabilities under the subscription agreement, while the licensing and cooperation agreement and the supply and commercialisation agreement disclosed in the previous announcements remain unaffected, and Qilu and the Company will continue to observe their respective obligations thereunder.
The Board considers that the lapse of the subscription agreement will not have any material adverse impact on the Group's business operations and financial position. Both parties remain willing to cooperate on the share subscription, with specific details still under negotiation, and the Company will make further announcements in a timely manner in accordance with the Listing Rules.
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