Certain A Shares of Newonder Special Electric Co.,Ltd are subject to a Lock-Up Agreement Ending on 20-APR-2023.
April 19, 2023
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Certain A Shares of Newonder Special Electric Co.,Ltd are subject to a Lock-Up Agreement Ending on 20-APR-2023. These A Shares will be under lockup for 374 days starting from 11-APR-2022 to 20-APR-2023.
Details:
Holding shareholder, actual controller, chairman of the board of directors, Tan Yong, Brother of actual controller Zong Lili, a member of board of directors and a senior management member, Zong Baofeng promised within 36 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company's share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company's share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months. During the term of office as the company's director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.
Actual controller Zong Lili and mother of holding shareholder, actual controller Tan Yong: Li Shuqin promised within 36 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company's share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company's share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months.
Members of board of directors with shareholding, Li Peng; Duan Tingting, Member of supervisory board with shareholding, Shi Fengxiang and Senior management personnel with shareholding, Xiao Wai promised within 12 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company's share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company's share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months. During the term of office as the company's director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.
Newonder Special Electric Co Ltd is a China-based company mainly engaged in the research, development and sales of variable-frequency transformers. The Companyâs main products are special transformers, reactors and other accessory products. The Company also involves in the trade of purchased transformers. The Companyâs other businesses include leasing of offices, sales of wasted copper materials and aluminum materials. The Company mainly sells its products within domestic market.