Certain Ordinary Shares of OTS Holdings Limited are subject to a Lock-Up Agreement Ending on 17-JUN-2022.
June 16, 2022
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Certain Ordinary Shares of OTS Holdings Limited are subject to a Lock-Up Agreement Ending on 17-JUN-2022. These Ordinary Shares will be under lockup for 366 days starting from 16-JUN-2021 to 17-JUN-2022.
Details:
Controlling Shareholder, BCS, Executive Directors, Ong Bee Chi and has irrevocably and unconditionally undertaken to the Sponsor and Issue Manager, and our Company, not to, directly or indirectly offer, pledge, sell, assign, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, hypothecate, grant any security over, encumber or otherwise transfer or dispose of, any of their Shares held for the entire Lock-up period, a period of six (6) months commencing from the Listing Date (First Lock-up Period), and (ii) in relation to at least 50.0% of such Lock-up Shares, a period of six (6) months immediately following the First Lock-up Period(Second Lock-up Period).
SAC Capital has irrevocably and unconditionally undertaken to our Company, for a period of six (6) months commencing from the Listing Date (Moratorium Period) not to, directly or indirectly offer, pledge, sell, realise, assign, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, hypothecate, grant any security over, encumber or otherwise transfer or dispose of, any of the SAC Capital Shares held immediately after the Listing (adjusted for any bonus issue or sub-division or consolidation of shares) or any securities convertible into or exercisable or exchangeable for or which carry rights to subscribe for or purchase any of the SAC Capital Shares.
OTS Holdings Limited is an investment holding company. The Company is a brand builder and food manufacturing company in the consumer industry. The Companyâs segments include Modern Trade, General Trade, Food Services, and Others. The Modern Trade segment refers to sales generated from supermarkets. The General Trade segment refers to sales generated from convenience stores, provision shops, and wholesalers. The Food Services segment refers to sales generated from hotels, restaurants, hawker centers, food courts, food and beverage stores, and caterers. The Others segment refers to sales that are mainly generated from e-commerce platforms and the export markets. It owns and operates three modern food manufacturing facilities, two in Singapore and one in Bulan Island, Indonesia. Its brands include Anew, Golden Bridge, Kelly's, Golden Lion, Orchid, EL-Dina, and Kizmiq. It offers four product categories: chilled, frozen, dried, and shelf-stable, ready-to-eat, and ready-to-cook meat product.