402,776,000 Ordinary Shares of BoardWare Intelligence Technology Limited are subject to a Lock-Up Agreement Ending on 15-JUL-2023. These Ordinary Shares will be under lockup for 366 days starting from 14-JUL-2022 to 15-JUL-2023.

Details:
Pursuant to the Subscription and Purchase Agreements, the Shares held by the Pre-IPO Investors, DHQ and Kallo will be subject to a lock-up period of twelve months following the Listing.

Pursuant to the Cornerstone Investment Agreement, the Shares subscribed for and to be placed to Ung Choi Kun as Cornerstone Investor will be subject to a lock-up period of one year following the Listing Date.

Under Rule 10.07 of the Listing Rules, the Hong Kong Underwriting Agreement and the International Underwriting Agreement, the Controlling Shareholders, namely Chao and Tai Wah, are subject to, among others, (i) restrictions on disposal of Shares during the period commencing on the date by reference to which disclosure of the shareholding of the Controlling Shareholders is made in the Prospectus or the date of the Hong Kong Underwriting Agreement or the date of the International Underwriting Agreement (as the case may be) and ending on the date which is six months from the Listing Date (the “First Six-month Period after Listing”); and (ii) restrictions on disposal of Shares during the period of six months commencing on the date on which the First Six-month Period after Listing expires (the “Second Six-month Period after Listing”) if he or it would cease to be a controlling shareholder (as defined in the Listing Rules) of the Company immediately following such a disposal.