Certain A Shares of Jiangxi Guoguang Commercial Chains Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-JUL-2021.
July 25, 2021
Share
Certain A Shares of Jiangxi Guoguang Commercial Chains Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-JUL-2021. These A Shares will be under lockup for 372 days starting from 19-JUL-2020 to 26-JUL-2021.
Details:
The company's controlling shareholder, Guoguang Industry Co., Ltd committed not to transfer or entrust to a third party the company’s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 36 months since the company’s share listing date. 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 months 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), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect. If any of the parties were to resign within 6 months from the present IPO, neither direct nor indirect holdings might be transferred or sold for 18 months since the date of rescinding. If the parties resign within 7 to 12 months after the IPO, neither direct nor indirect holdings might be transferred or sold for 12 months since the date of rescinding.
The Company’s actual controllers, Hu Jingen, Jiang Shulan, Hu Zhichao, Hu Zhimin, Hu Chunxiang, Qixing Consulting Co., Ltd, Lixing Consulting Co., Ltd., Hongxing Consulting Co., Ltd., Fuxing Consulting Co., Ltd, Liu Qun, Tu Shunhua, Wang Le, Wang Dongping, Du Qun and Di Zhongnan committed not to transfer or entrust to a third party the company’s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 36 months since the company’s share listing date. 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 months 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.
CITIC Investments Co., Ltd committed not to transfer or entrust to a third party the company’s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 12 months since the company’s share listing date. 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 months 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.
Jiangxi Guoguang Commercial Chains Co Ltd is a company engaged in operation of chain supermarkets. The Company's products are comprised of fresh products, such as fruits, vegetables, aquatic products and meat; food products, such as frozen foods, liquor and beverages; non-food products, such as daily chemical products; knitted products, such as towels and bedding; department store products, such as jewels, cosmetics and clothing. The Company mainly conducts its businesses in Jiangxi Province through operating large, medium and small supermarkets and department stores.