Certain Ordinary Shares of Fenbi Ltd. are subject to a Lock-Up Agreement Ending on 8-JAN-2024. These Ordinary Shares will be under lockup for 367 days starting from 6-JAN-2023 to 8-JAN-2024.

Details:
The Company has undertaken to the Joint Sponsors, the Joint Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Capital Market Intermediaries, the Hong Kong Underwriters and each of them not to, and to procure each other member of the Group not to (save for (a) the issue, offer or sale of the Offer Shares by the Company pursuant to the Global Offering, including pursuant to any exercise of the Over-allotment Option or (b) the issue of Shares by the Company pursuant to the Pre-IPO Share Option Scheme), without the prior written consent of the Joint Sponsors and the Joint Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters) and unless in compliance with the Listing Rules, at any time during the period commencing on the date of the Hong Kong Underwriting Agreement and ending on, and including, the last date of the six months after the Listing Date (the ?First Six-Month Period?).
In the event that, at any time during the period of six months immediately following the expiration of the First Six-Month Period (the ?Second Six-Month Period?), the Company enters into any of the transactions specified above or offers or agrees or contracts to, or announces, or publicly discloses, any intention to, enter into any such transactions, the Company will take all reasonable steps to ensure that it will not create a disorderly or false market in the Shares or other securities of the Company. Each of the Controlling Shareholders has undertaken to each of the Joint Sponsors, the Joint Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Capital Market Intermediaries and the Hong Kong Underwriters to procure the Company to comply with the undertakings.