Certain A Shares of Zhejiang Wufangzhai Industry Co., Ltd. are subject to a Lock-Up Agreement Ending on 31-AUG-2023.
August 30, 2023
Share
Certain A Shares of Zhejiang Wufangzhai Industry Co., Ltd. are subject to a Lock-Up Agreement Ending on 31-AUG-2023. These A Shares will be under lockup for 370 days starting from 26-AUG-2022 to 31-AUG-2023.
Details:
The company?s controlling shareholder Wufangzhai Group Co., Ltd., Li Jianping and Li Haojia, the actual controllers of the company, Li Jianfeng and Li Gang who indirectly hold shares in the company, Jiaxing Yuanyang Advertising Decoration Engineering Co., Ltd., a shareholder holding more than 5% of the shares promises within 36 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. 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), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.
Shanghai Galaxy Digital Investment Co., Ltd., a shareholder holding more than 5% of the shares, Director Wei Rongming, who holds the company's shares, Hu Jianmin, a supervisor who holds shares in the company, Shareholders who have invested in shares within 12 months before the declaration, Tan Zheng and Wu Xiaochun promises within 12 months from the date of the company?s initial public offering and listing, the company shall not transfer or entrust others to manage the company?s directly or indirectly held shares before the company?s initial public offering, nor shall the company repurchase that part of the shares.
After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.
Zhejiang Wufangzhai Industry Co Ltd, formerly Zhejiang Wufangzhai Co Ltd, is a China-based company mainly engaged in the research and development, production and sales of glutinous rice food and other foods. The Company's main products include glutinous rice dumpling, moon cake, glutinous rice balls, pastries, egg products and other rice products. The Company operates a nationwide omni-channel sales network covering trade and commerce, chain stores, and electronic commerce. The Company mainly conducts its businesses in the Chinese domestic market.