Certain A Shares of WCON Electronics Co., Ltd. are subject to a Lock-Up Agreement Ending on 8-SEP-2023.
September 07, 2023
Share
Certain A Shares of WCON Electronics (Guangdong) Co., Ltd. are subject to a Lock-Up Agreement Ending on 8-SEP-2023. These A Shares will be under lockup for 372 days starting from 1-SEP-2022 to 8-SEP-2023.
Details:
The Company?s actual controllers Li Wenhua, Luo Shaochun, and Li Ruixin and the directors and senior management committed: 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, they committed to not transfer more than 25% of shares held each year.
The Company?s shareholders Li Xiaocui, Kangnaite (Shenzhen) Industrial Investment Partnership Enterprise (Limited Partnership), and Li Lvyin, supervisors Fu Jiajun, Chen Sangang, and Li Jianguo, actual controllers? relatives Li Juanman, Luo Yunlong, Li Lin, Li Yingjie, and Wang Chunmao committed: 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. After the lock-up has expired, while holding office, the supervisors committed to not transfer more than 25% of shares held each year
The Company?s shareholders Li Lvyin, Dongguan Guanjin Industrial Investment Partnership Enterprise (Limited Partnership), Dongguan Humen Fumin Technology Venture Capital Co., Ltd., Dongguan Decai Yufeng Equity Investment Center (Limited Partnership), and Qushui Zetong Enterprise Management Partnership Enterprise (Limited Partnership) committed: 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.
WCON Electronics Guangdong Co Ltd is a China-based company mainly engaged in the manufacture of precision connector products. The Company operates through four segments. The Industrial Control Connector segment is mainly engaged in the manufacture of industrial control board-to-board connectors and industrial control wire-to-board connectors, which are used in servo motors, programmable controllers, industrial computers, inverter controllers, data storage devices, instrumentation, and others. The Automotive Connector segment is mainly engaged in the production of automotive connectors, which are used in batteries for new energy vehicles. The New Energy Connector segment is mainly engaged in the production of new energy connectors for use in solar and wind energy inverters. The Other segment is mainly engaged in the production of other electronic components. The Company distributes its products in the domestic market and overseas markets.
WCON ELECTRONICS (GUANGDONG) CO., LTD. 
