Certain Ordinary Shares of PT Agro Bahari Nusantara Tbk are subject to a Lock-Up Agreement Ending on 20-JUN-2024. These Ordinary Shares will be under lockup for 237 days starting from 27-OCT-2023 to 20-JUN-2024.

Details:
In accordance with OJK Regulation no. 25/2017, any party who obtains equity securities from an issuer at a price and/or conversion value and/or exercise price below the Initial Public Offering price within a period of 6 (six) months prior to submission of the Registration Statement to the Financial Services Authority, is prohibited to transfer all ownership of the Company's equity securities up to 8 (eight) months after the registration statement becomes effective.

After the Deed of Statement of Decisions of the Company's Shareholders' Meeting No. 3 dated 28 April 2023 jo. Deed of Statement of Resolutions of the Company's Shareholders' Meeting No. 1 dated May 8 2023, there are several deeds of changes in composition between shareholders, so that as regulated in POJK No. 25/2017 where shareholders who obtain shares below the public offering price within a period of 6 (six) months before the Registration Statement is made are required to be locked- up for 8 (eight) months, then the shares owned by Vincent Lukito, Jose Loupiga Keliat , Christian Brandon Limbono, Christopher Brandley Limbono, Benny, and Andrew Kam will be subject to lock-up for up to 8 (eight) months after the registration statement becomes effective.

Furthermore, the Company's shareholders, namely Vincent Lukito, Jose Loupiga Keliat, Christian Brandon Limbono, based on a statement letter dated July 12 2023 stated that they would not relinquish their control over the Company within a period of at least 12 (twelve) months after the Initial Public Offering of Shares became effective.