Certain A Shares of Zhejiang Tengen Electrics Co.,Ltd. are subject to a Lock-Up Agreement Ending on 7-AUG-2022.
August 06, 2022
Share
Certain A Shares of Zhejiang Tengen Electrics Co.,Ltd. are subject to a Lock-Up Agreement Ending on 7-AUG-2022. These A Shares will be under lockup for 738 days starting from 30-JUL-2020 to 7-AUG-2022.
Details:
Tengen Group Co., Ltd., the Company's controlling shareholder promised within 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), 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.Gao Tianle, actual controller of the Company promised 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. 2. 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.Gao Guoxuan, Gao Xiao and Gao Yu promised within 36 months since the date of listing of the present shares, there will be no transfers nor entrustment of shares to any third party nor repurchase by the Company. 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.
Wang Yong, Zhu Xingbing, Zhou Guanghui, Huang Yuechi, Huang Hongbin, Lü Yangming and Fang Chufu promised within 12 months since the date of listing of the present shares, there will be no transfers nor entrustment of shares to any third party nor repurchase by the Company. 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.
Zhejiang Tengen Electrics Co Ltd is a China-based company mainly engaged in the research and development, production and sales of low-voltage electrical products. The Company's main products include power distribution appliances, control appliances, terminal appliances, power appliances, instrument appliances, etc., such as molded case circuit breakers, alternating curren contactors, miniature circuit breakers, transformers and meters. Its products are used in power distribution systems in industrial, commercial and civil buildings such as factories, shopping malls and residential buildings, as well as machine tools and other electrical control components of various industrial equipment and power grid supporting facilities. The Company mainly conducts its businesses in the China market.