Certain A Shares of Ningbo TIP Rubber Technology Co., Ltd are subject to a Lock-Up Agreement Ending on 25-AUG-2021.
August 24, 2021
Share
Certain A Shares of Ningbo TIP Rubber Technology Co., Ltd are subject to a Lock-Up Agreement Ending on 25-AUG-2021. These A Shares will be under lockup for 371 days starting from 19-AUG-2020 to 25-AUG-2021.
Details:
The Company’s holding shareholder Zhejiang TIP Holding Co., Ltd., actual controllers You Jianyi and Wang Guohong, and their controlled companies Ningbo Tianxin Trade Co., Ltd. and Ningbo Pu’en Investment Management Partnership Enterprise (Limited Partnership) committed that they will not transfer or entrust to a third party the Company’s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.
The Company’s indirect shareholders Tong Min, Fan Jianhai, Shen Weiyi committed that they will not transfer or entrust to a third party the Company’s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.
Ningbo Tip Rubber Technology Co Ltd is a China-based company mainly engaged in the research, development, production and sales of automotive polymer fluid piping systems and sealing system parts and assemblies. The Company provides rubber hoses and assembly products for automobile manufacturers and their first-tier suppliers. The Company's products are divided into five categories: automotive engine systems and parts, body systems and parts, chassis systems and parts, electrical and electronic equipment and general parts, including radiator tubes, turbocharger hoses, crankcase ventilation system, oil cooling pipe, vacuum solenoid valve pipe, automobile fuel system hose and assembly, automobile air conditioning system hose and assembly, automobile power steering system hose and assembly, other body accessory system hoses, sealing tape, dustproof and shock absorbers, etc. The Company operates its businesses within the domestic market and to overseas markets.