Certain A Shares of Beijing Tieke Shougang Rail Way-Tech Co., Ltd. are subject to a Lock-Up Agreement Ending on 31-AUG-2021.
August 30, 2021
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Certain A Shares of Beijing Tieke Shougang Rail Way-Tech Co., Ltd. are subject to a Lock-Up Agreement Ending on 31-AUG-2021. These A Shares will be under lockup for 376 days starting from 20-AUG-2020 to 31-AUG-2021.
Details:
The controlling shareholder and actual controller promised not to sell shares for 36 months from listing date. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.
The issuer shareholder promised not transfer shares for 12 months from listing date. 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. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests.
Beijing Tieke Shougang Railway-Tech Co Ltd is a company engaged in research and development, production and sales of high-speed railway engineering products. The Company's main products are high-speed rail fasteners and heavy-duty fasteners, which are used in ballasted tracks with shoulders, ballasted tracks without shoulders, ballastless tracks without shoulders and sleeper-embedded ballastless tracks. Its products also include ordinary railway fasteners and urban rail fasteners. The Company also produces and sells prestressed steel wires, anchor plates, railway bridge bearings and viscosity modifiers. Its products are used in high-speed railway engineering areas, such as tracks, bridges and tunnels.