Ann: Full Option Exercise Underwriting, page-3

“To the extent that any issue of shortfall shares would result in the Underwriter’s voting power increasing beyond 19.9%, the Underwritten Amount will be reduced such that the Underwriter’s voting power following the issue of shortfall shares is 19.9%. However, the Underwriter has indicated to the Company that it intends to engage sub-underwriters to take up shortfall shares to ensure that its voting power does not exceed 19.9%.”