Certain A Shares of Chongqing Wangbian Electric Corp., Ltd. are subject to a Lock-Up Agreement Ending on 28-APR-2024.
April 27, 2024
Share
Certain A Shares of Chongqing Wangbian Electric (Group) Corp., Ltd. are subject to a Lock-Up Agreement Ending on 28-APR-2024. These A Shares will be under lockup for 737 days starting from 22-APR-2022 to 28-APR-2024.
Details:
The company?s controlling shareholder, actual controller, chairman and general manager Yang Zemin, company shareholders, directors, and company?s actual controllers acting in concert Yang Houqun, company shareholders, directors, senior managers, and company actual controllers acting in concert, Pi Tianbin, The company?s controlling shareholder and actual controller Qin Huilan, the company?s shareholders holding more than 5% of the company?s shares, the actual controllers Yang Yao and Yang Qin, and the company?s actual controllers acting in concert Qin Yong, Yang Xiaolin, and Long Zhigang promised that Within 36 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests.
After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.
The company?s shareholding directors and senior executives and Chongqing Changshou Economic and Technological Development Area Development Investment Group Company respectively promised that Within 12 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests.
After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.
Chongqing Wangbian Electric Group Corp Ltd is a China-based company mainly engaged in the research, development, production and sales of power transmission and distribution, control equipment and grain-oriented silicon steel. The Company's main products include power transformers, box-type substations, complete sets of electrical equipment, general oriented silicon steel (CGO) and high magnetic induction-oriented silicon steel (HiB). Its products are mainly used in agricultural, industrial, commercial and residential electricity, industry, rail transit and infrastructure construction. The Company mainly conducts its businesses in domestic and overseas markets.