Certain A-Shares of CATARC Automotive Proving Ground Co.,Ltd. are subject to a Lock-Up Agreement Ending on 8-MAR-2023.
March 07, 2023
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Certain A-Shares of CATARC Automotive Proving Ground Co.,Ltd. are subject to a Lock-Up Agreement Ending on 8-MAR-2023. These A-Shares will be under lockup for 371 days starting from 2-MAR-2022 to 8-MAR-2023.
Details:
The Company's holding shareholder China Automotive Technology and Research Center Co., Ltd. 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.
The Company's shareholders Jiangsu Yueda Group Co., Ltd. and Jiangsu Dafeng Harbor Holdings Limited 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. 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.
CATARC Automotive Proving Ground Co Ltd is a China-based company mainly engaged in the provision of field-testing technical services. The Company is mainly engaged in providing field-testing technical services for automobile manufacturers, automobile inspection institutions, automobile chassis component system enterprises and tire enterprises through the construction of automobile field test environments and test scenarios. The Company is also engaged in the provision of testing services such as vehicle enhanced corrosion durability testing and tire testing. The Company mainly conducts its businesses in the domestic market.