Certain Ordinary Shares of PT Avia Avian Tbk are subject to a Lock-Up Agreement Ending on 7-DEC-2023.
December 06, 2023
Share
Certain Ordinary Shares of PT Avia Avian Tbk are subject to a Lock-Up Agreement Ending on 7-DEC-2023. These Ordinary Shares will be under lockup for 731 days starting from 6-DEC-2021 to 7-DEC-2023.
Details:
The Shareholders Seller has agreed that, for a period of 6 months after the Effective Date (? Lock-Up Period First ?), the Selling Shareholders will not (i) offer, pledge, sell, promise to sell, sell options anything or any promise to buy, buy an option or any promise to sell, grant an option,any right or warrant to purchase, lend, otherwise transfer or dispose of,either directly or indirectly, on Shares that are beneficially owned by the Shareholders Relevant Seller's Shares or any other securities held which are convertible or can be implemented or can be exchanged for shares ( " Shares Lock-Up Selling Stockholders "), or(ii) enter into a swap agreement or any other arrangement which transfers to the parties otherwise, in whole or in part, any economic consequences of the ownership of the Lock-Up Seller Shareholder.
The same restrictions as in points (i) and (ii) above will also apply to 85% of Shares Lock-Up Selling Stockholders owned by each PT Wahana FluentFortune and PT Tancorp Surya Sentosa during the period immediately following the First Lock-Up Period until date which is 2 (two) years after the Effective Date.
In addition, each of Hermanto Tanoko, Wijono Tanoko and Ruslan Tanoko have also agreed tonot transfer or relinquish their respective shareholdings in PT Wahana LancarFortune and PT Tancorp Surya Sentosa for a period of 2 (two) years after the Effective Date.
PT Avia Avian Tbk. is an Indonesia-based company, which is engaged in manufacture and trade of paints and printing inks, varnishes, lacquers, adhesives or glues, mortar, or ready-mixed concrete. The Companyâs segments include architectural solutions and trading goods. The architectural solutions business focuses on manufacturing, distributing, and trading wall paints, wood and metal paints, leak-proof coatings, wood treatments, glues, roofing paints, and instant cement products. The trading goods business focuses on distributing and selling pipes, furniture, and supporting products that are required in painting processes, such as paint rollers, paint brushes, tapes, and sandpapers. The Company has two manufacturing facilities located in Sidoarjo and Serang with respective production capacity of 213,840 and 72,576 metric tons per year. It also produces paint packaging and resin raw materials independently using special machinery.
PT AVIA AVIAN TBK 
