Certain Common Shares of Jeotex Inc. are subject to a Lock-Up Agreement Ending on 27-JUN-2015.
June 26, 2015
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Certain Common Shares of Jeotex Inc. are subject to a Lock-Up Agreement Ending on 27-JUN-2015. These Common Shares will be under lockup for 365 days starting from 27-JUN-2014 to 27-JUN-2015.
Details:
The management of the company and DataWind UK's existing shareholders have agreed not to offer, issue, sell, grant, secure, pledge or otherwise transfer, dispose of or monetize, or engage in any hedging transaction, or enter into any form of agreement or arrangement the consequence of which is to alter the economic exposure to, or announce any intention to do so, in any manner whatsoever, any Common Shares or securities convertible into, exchangeable for, or otherwise exercisable to acquire Common Shares or other equity securities of DataWind for a period of 180 days from the closing of the offering.
The Board of Directors and executive officers of the company have agreed not to offer, issue, sell, grant, secure, pledge or otherwise transfer, dispose of or monetize, or engage in any hedging transaction, or enter into any form of agreement or arrangement the consequence of which is to alter the economic exposure to, or announce any intention to do so, in any manner whatsoever, any Common Shares or securities convertible into, exchangeable for, or otherwise exercisable to acquire Common Shares or other equity securities of DataWind for a period of 12-months from the closing of the offering.
A total of 15,475,198 shares, or 72.42% of common shares outstanding after the offering are subject to such arrangements.
Jeotex Inc, formerly DataWind Inc, is a Canada-based provider of Internet connectivity and wireless Web access products. The Company's Internet Delivery Platform offers an Internet browsing solution by bundling a tablet device with a prepaid, second-generation (2G) Internet service plan. The Internet Delivery Platform's acceleration and data reduction are accomplished through the use of its algorithms resident on the cloud-based servers. These cloud-based servers operate as a gateway between the primary Internet-based content server and the user. The Company offers a range of UBISLATE Tablets and PocketSurfer Smartphones. Its UBISLATE Tablets include Ubislate 3G10Z, Ubislate i3G7, Ubislate 3G7Z, Ubislate 9W, Ubislate 10Ci, Ubislate 7DCX, Ubislate 7DCX+ and Ubislate 7SC. Its PocketSurfer Smartphones include Pocket Surfer GZ, Pocket Surfer 2G4X, Pocket Surfer 3G4X, Pocket Surfer 3G4Z and Pocket Surfer 3G5.