Tianmao Group completes cash option as delisting proceeds

Tianmao Industrial Group Co., Ltd. (Tianmao Group) announced the results of its cash option declaration, a process preceding the voluntary delisting of its shares. The declaration period ran from September 15 to September 19, 2025.

During this period, a total of 1,442,279,537 units of the cash option, identified as "Tianmao TMP1," were validly declared. The cash option allowed holders to sell one company share for every one unit of the right held, reflecting a 1:1 exercise ratio.

All validly declared cash options have now completed settlement. The announcement follows previous disclosures in September 2025 regarding the distribution and implementation of the cash option as part of the company's decision to voluntarily delist its shares via a shareholders' meeting resolution.