Certain A Shares of Shenzhen Vital New Material Co., Ltd. are subject to a Lock-Up Agreement Ending on 29-SEP-2023.
September 28, 2023
Share
Certain A Shares of Shenzhen Vital New Material Co., Ltd. are subject to a Lock-Up Agreement Ending on 29-SEP-2023. These A Shares will be under lockup for 368 days starting from 26-SEP-2022 to 29-SEP-2023.
Details:
The Company?s actual controller Liao Gaobing and Chen Yunhua, person acting in concert Shenzhen Lileyuan Investment Management Co., Ltd. committed that 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, Liao Gaobing and Chen Yunhua committed to not transfer more than 25% of shares held each year.
The Company?s director and senior management who are shareholders Tang Xin, Wu Jing, Sang Zelin, and Li Xiaoming committed that 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. 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 other shareholders committed that 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.
Shenzhen Vital New Material Co Ltd is a China-based company principally engaged in the research and development, production and sales of microelectronic welding materials. The Company's main products include solder paste, solder wire, solder bar and other microelectronic soldering materials, as well as flux, cleaning agent and other auxiliary soldering materials. The Company's products are mainly used in consumer electronics, light-emitting diodes (LED), smart home appliances, communications, computers, industrial control, photovoltaics, automotive electronics, security and other fields. The Company principally conducts its businesses in domestic and overseas markets.