Regencell Bioscience Holdings Ltd is a bioscience company that focuses on research, development and commercialization of traditional Chinese medicine (TCM) for the treatment of neurocognitive disorders and degeneration and infectious diseases affecting people's immune system.
Mr Yat-Gai Au, the Company’s Chairman and CEO announced that he has decided to put his money where his mouth is and purchase ordinary shares in Regencell (“Ordinary Shares”) totaling $5.03 million through open market purchases to demonstrate his commitment to the Company and his position against short and distort sellers. Furthermore, he will continue to draw a $1 annual salary and no bonus until the company reaches a $1 billion market capitalization and reserve share options for all employees except himself.
Additionally, to demonstrate commitment to the Company, all directors and employees who were previously granted stock options upon the Company’s IPO have agreed to a further lock-up undertaking for a period of six months after their stock options become vested. As their stock options are set to vest on July 16, 2022, their shares will remain locked up until January 16, 2023.
Mr Au is currently spearheading a philanthropic project in his own capacity to provide grants to over 10,000 children afflicted with ADHD, ASD, COVID-19 and those in severe financial distress. He has started providing grants on April 16, 2022 and have already helped over 150 children.
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