Certain Equity Shares of IKIO Lighting Limited are subject to a Lock-Up Agreement Ending on 10-DEC-2023.
Pursuant to Regulations 14 and 16 (1) of the SEBI ICDR Regulations, an aggregate of 20% of the fully diluted post-Offer Equity Share capital of the Company held by the Promoters, except for the Equity Shares offered pursuant to the Offer for Sale, shall be locked in for a period of three years as minimum Promoter?s contribution (?Minimum Promoter?s Contribution?) from the date of Allotment and the shareholding of the Promoters in excess of 20% of the fully diluted post-Offer Equity Share capital shall be locked in for a period of one year from the date of Allotment.
In terms of Regulation 17 to the SEBI ICDR Regulations, the entire pre-Offer equity share capital of the Company will be locked-in for a period of six months from the date of Allotment in the Offer, except: (a) the Promoters? Contribution which shall be locked in as above; b) any Equity Shares which may be allotted to the employees under ESOP Scheme pursuant to exercise of stock options held by such employees (whether currently employees or not); and (c) Offered Shares, which are successfully sold and transferred as part of the Offer for Sale.