Certain A Shares of Ligao Foods Co.,Ltd are subject to a Lock-Up Agreement Ending on 15-APR-2022.
April 14, 2022
Share
Certain A Shares of Ligao Foods Co.,Ltd are subject to a Lock-Up Agreement Ending on 15-APR-2022. These A Shares will be under lockup for 368 days starting from 12-APR-2021 to 15-APR-2022.
Details:
The Companys holding shareholders and actual controllers Peng Yuhui, Zhao Songtao, and Peng Yongcheng, shareholders Chen Hejun and Ning Zongfeng, senior management who are shareholders Long Wangzhi, Zhou Ying, Peng Gang, Zheng Weiping, and Liu Yu, and supervisor and shareholder Deng Zhiqiang committed to not transfer or entrust to a third party the Companys shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months. Within 2 years after the lock-up has expired, Peng Yuhui, Zhao Songtao, Peng Yongcheng, Chen Hejun, and Ning Zongfeng committed to not transfer more than 10% stake. After the lock-up has expired, while holding office, they committed to not transfer more than 25% of shares held each year.
The Companys shareholder Wan Jian and Peng Yuhuis companies Guangzhou Lixing Enterprise Management Consulting Partnership Enterprise (Limited Partnership) and Guangzhou Lichuang Enterprise Management Consulting Partnership Enterprise (Limited Partnership) committed: to not transfer or entrust to a third party the Companys shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date.
The Companys shareholders Bai Baokun, Zhao Jian, and Zhang Xinguang committed: to not transfer or entrust to a third party the Companys shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months. Within 2 years after the lock-up has expired, they committed to not transfer more than 10% stake.
Ligao Foods Co Ltd is a China-based company principally engaged in the research and development, production and sales of baked foods raw materials and frozen baked foods. The Companyâs main products include raw materials for bakery products such as cream, fruit products, sauces and chocolate, as well as frozen bakery semi-finished products and finished products. It is also engaged in the production of some snack foods. The Company operates its businesses in domestic market.