Certain Ordinary Shares of Drumz plc are subject to a Lock-Up Agreement Ending on 4-APR-2024. These Ordinary Shares will be under lockup for 365 days starting from 5-APR-2023 to 4-APR-2024.

Details:
The Company, the Joint Bookrunners and the Founders (who together will hold 37.16 per cent. of the Enlarged Ordinary Share Capital) have entered into the Lock-in Deeds, pursuant to which the Founders have agreed that subject to certain customary exceptions, (i) for a period of 12 months from the date of Completion, neither they nor their connected persons shall transfer or dispose of the Concert Party Consideration Shares or shares which they hold upon exercise of any options or warrants over New Ordinary Shares granted to them without the prior permission of the Company and the Joint Bookrunners and (ii) for a further period of 12 months, the Founders shall, and will use best endeavours to procure that their associates shall, only transfer or dispose of New Ordinary Shares in which they have a beneficial interest through or with the agreement of the Joint Bookrunners (provided that such broker?s terms are competitive to the terms being offered by other brokers and the sale price is at least equivalent to the price that the relevant transferee can obtain elsewhere), in order to maintain an orderly market in the New Ordinary Shares.