Certain A Shares of Wuhan Lincontrol Automotive Electronics Co., Ltd. are subject to a Lock-Up Agreement Ending on 5-MAR-2022.
March 04, 2022
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Certain A Shares of Wuhan Lincontrol Automotive Electronics Co., Ltd. are subject to a Lock-Up Agreement Ending on 5-MAR-2022. These A Shares will be under lockup for 365 days starting from 5-MAR-2021 to 5-MAR-2022.
Details:
The Companys holding shareholder and actual controller Wang Heping and Gong Benhe and shareholder Ningbo Meishan Bonded Port Area Lingkong Investment Partnership Enterprise committed to not transfer or entrust to a third party the Companys 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 companys shareholder Wu Zhanghua and directors, supervisors, and senior management Yu Junfa, Zhou Liangrun, Chen Weideng and others committed to not transfer or entrust to a third party the Companys 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.
The companys shareholders Beijing Yuyuan Asset Management Co., Ltd., Beijing Hongya Ruogu Fund Management Center (Limited Partnership), Tan Chun, Xuan Lu, and Huang Lihai committed: to not transfer or entrust to a third party the companys shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date.
Wuhan LinControl Automotive Electronics Co Ltd is a China-based company mainly engaged in the provision of electronic control systems for automobile power. The Company's main businesses include the research and development, production, sales and technical services of automobile engine management systems, motorcycle engine management systems, pure electric vehicle power electronic control systems, and hybrid vehicle power electronic control systems. The Companyâs main products include engine management systems (EMS) for gasoline vehicles and motorcycles, Motor Control Unit (MCU) for electric vehicles, Vehicle Control Unit (VCU), EMS for hybrid vehicles, VCU, MCU and Generator Control Unit (GCU). The Company distributes its products and services within the domestic market.