Certain A Shares of Shanghai Smart Control Co., Ltd. are subject to a Lock-Up Agreement Ending on 28-FEB-2024.
February 27, 2024
Share
Certain A Shares of Shanghai Smart Control Co., Ltd. are subject to a Lock-Up Agreement Ending on 28-FEB-2024. These A Shares will be under lockup for 735 days starting from 23-FEB-2022 to 28-FEB-2024.
Details:
The Company?s holding shareholders and actual controllers Zhang Huahong, Ceng Hongying, and Ceng Hui, relative Sun Yujie, and shareholder Shanghai Yuehao Enterprise Management Partnership Enterprise (Limited Partnership) committed that to not transfer or entrust to a third party the Company?s 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. After the lock-up has expired, while holding office, Zhang Huahong, Ceng Hongying, and Ceng Hui committed to not transfer more than 25% of shares held each year.
The Company?s director Liu Chunsong committed that to not transfer or entrust to a third party the Company?s 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. After the lock-up has expired, while holding office, Liu Chunsong committed to not transfer more than 25% of shares held each year.
The Company?s shareholder Shanghai Hantai Venture Capital Partnership Enterprise (Limited Partnership), Sany Group Co., Ltd., Qingdao Yangguang Dadi Investment Management Co., Ltd., Shi Jianxiang, Zhenjiang Huixin Phase 3 Equity Investment Partnership Enterprise (Limited Partnership) committed that to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date.
Shanghai Smart Control Co Ltd is a China-based company mainly engaged in the research and development (R&D), production and sales of intelligent electronic control products and intelligent electronic control assemblies. The Company is also engaged in other businesses such as technical services and processing services. The intelligent electronic control products include display and control products, sensing products, control products, signal transmission products and others. The intelligent electronic control assemblies include electrical control cabinet assembly, console assembly and transmission sensing assembly products. The Company operates its businesses mainly in the domestic market.