Certain A Shares of Luoyang Xinqianglian Slewing Bearing Co.,Ltd. are subject to a Lock-Up Agreement Ending on 13-JUL-2023.
July 12, 2023
Share
Certain A Shares of Luoyang Xinqianglian Slewing Bearing Co.,Ltd. are subject to a Lock-Up Agreement Ending on 13-JUL-2023. These A Shares will be under lockup for 1100 days starting from 8-JUL-2020 to 13-JUL-2023.
Details:
The company's controlling shareholder and actual controller Xiao Zhengqiang and Xiao Gaoqiang committed not to transfer or entrust to a third party the companyâs shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 36 months since the companyâs share listing date. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 months from listing, lock-up period will be automatically extended for another 6 months. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect. If any of the parties were to resign within 6 months from the present IPO, neither direct nor indirect holdings might be transferred or sold for 18 months since the date of rescinding. If the parties resign within 7 to 12 months after the IPO, neither direct nor indirect holdings might be transferred or sold for 12 months since the date of rescinding.
Other shareholders who are directors and senior managers of the company, Fang Zhongqing and Cao Baigen committed not to transfer or entrust to a third party the companyâs shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 12 months since the companyâs share listing date. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 months from listing, lock-up period will be automatically extended for another 6 months. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. In the event of a resignation before the expiry of the term of office, the above-mentioned undertaking will continue to be maintained for six months. There will be no transfer of shares, directly or indirectly held, within 18 months from the date of declaration in case of resignation happening within 6 months from the date of listing of the company's shares; the first 7 months from the date of listing of the company's shares To the 12th month between the declaration of separation, since the declaration of departure within 12 months from the date of the transfer of the person directly or indirectly, the issuer shares.
The shareholders, Zhang Zhanpu and Li Huaqing committed not to transfer or entrust to a third party the companyâs shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 12 months since the companyâs share listing date.
Luoyang Xinqianglian Slewing Bearing Co Ltd is a China-based company mainly engaged in research, development, production and sales of large-scale slewing bearings and industrial forgings. The Company operates two business segments. The Slewing Bearing segment is engaged in the production and sale of slewing bearing products. The Forging segment is engaged in the production and sale of ring forging products. The Company's main products include wind power spindle bearings, yaw bearings, pitch bearings, shield machine bearings and key parts, offshore engineering equipment crane slewing bearings and forgings. Its products are mainly used in fields such as wind turbines, shield machines, offshore equipment and construction machinery. The Company conducts its businesses within the domestic market and to overseas markets.