Certain A Shares of OKE Precision Cutting Tools Co., Ltd. are subject to a Lock-Up Agreement Ending on 9-DEC-2023.
December 08, 2023
Share
Certain A Shares of OKE Precision Cutting Tools Co., Ltd. are subject to a Lock-Up Agreement Ending on 9-DEC-2023. These A Shares will be under lockup for 1101 days starting from 3-DEC-2020 to 9-DEC-2023.
Details:
The company controlling shareholders and the actual controllers Yuan Meihe and Tan Wenqing have agreed not to dispose of their interest for a period of 36 months from the date of listing. 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 (including the extended lock-up period), the party promise that yearly transfer of shares made by him will not exceed 25% of the holding.
The shareholders, namely, Han Hongtao and Liang Baoyu, who serve as senior management personnel of the issuer have agreed not to dispose of their interest for a period of 12 months from the date of listing. 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 (including the extended lock-up period), the party promise that yearly transfer of shares made by him will not exceed 25% of the holding.
The company shareholders, namely, Zhang Yi, who acts as a supervisor of the issuer; Issuer shareholders GEM Co., Ltd., Leqing Dehui Equity Investment Partnership (Limited Partnership), Zhuzhou Jingrui Investment Management Partnership Enterprise (LP), Shenzhen Nanhai Growth Tongying Equity Investment Fund (Limited Partnership), Guangdong Yueke Zongrong Venture Capital Partnership (Limited Partnership) and Guangdong Yueke Nanyue Venture Capital Co., Ltd.; the other shareholders: Liu Yimin, Guangzhou Deqin No. 1 Equity Investment Fund Partnership Enterprise (Limited Partnership) and Ma Huaiyi and core technical staff shareholders Yuan Meihe, Su Zhenhua, Li Shuqiang, Luo Lijun, Chen Xinzer have agreed not to dispose of their interest for a period of 12 months from the date of listing.
OKE Precision Cutting Tools Co Ltd is a China-based company mainly engaged in the research, development, production and sales of cemented carbide products and Computer Numerical Control (CNC) tool products. Cemented carbide products mainly include saw tips and discs, which are further processed into carbide cutting tools such as carbide saw tips and disc milling cutters, which are used to cut various non-metal and metal materials. CNC tool products mainly include CNC blades, which are used to process metal materials such as stainless steel, steel, cast iron, and non-ferrous metals. The Company mainly conducts business within the domestic market.