Certain A Shares of Jiangsu Jujie Microfiber Technology Group Co., Ltd. are subject to a Lock-Up Agreement Ending on 12-MAR-2024.
March 11, 2024
Share
Certain A Shares of Jiangsu Jujie Microfiber Technology Group Co., Ltd. are subject to a Lock-Up Agreement Ending on 12-MAR-2024. These A Shares will be under lockup for 1462 days starting from 11-MAR-2020 to 12-MAR-2024.
Details:
The actual controller of the issuer Zhong Hongtian, Lu Yuzhen and Zhong Xiangju, the issuer's shareholder Suzhou Jujie Investment Co., Ltd. Suzhou Jujie Junhe Investment Partnership (Limited Partnership) 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. After the expiry of the 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 issuer's shareholder Shanghai Jinpu Emerging Industry Equity Investment Fund Partnership (Limited Partnership), Shanghai Xianghe Yongan Equity Investment Partnership (Limited Partnership), Ms. Wang Mingxi, Directors, supervisors or senior management personnel who directly or indirectly hold the issuer's shares Xia Jianxin, Huang Yahui, Li Lin, Xi Juming, Wang Weifeng and Wang Hua promised that within 12 months since the date of listing of the present shares, there will be no transfer 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.
Jiangsu Jujie Microfiber Technology Group Co., Ltd. is a China-based company mainly engaged in composite fiber products business. The Company focuses on research, development, manufacturing and sales of ultra-fine composite fiber fabrics and finished products. The Company's products include microfiber finished products, microfiber imitation leather fabrics, microfiber functional fabrics and microfiber dust-free clean products. Microfiber finished products launched home textile series, sports series. Microfiber imitation leather fabrics are mainly used in many fields such as fashion, home furnishings, automotive interiors, and shoe materials. Microfiber functional fabrics are mainly used in microfiber sports towels, sports auxiliary equipment, and casual clothing. Microfiber dust-free clean products are mainly used in LED liquid crystals, camera lenses, semiconductors, integrated circuits, etc. The Company distributes its products within domestic market and to overseas markets.