Certain A Shares of Tianjin You Fa Steel Pipe Group Stock Co., Ltd. are subject to a Lock-Up Agreement Ending on 4-DEC-2021.
December 03, 2021
Share
Certain A Shares of Tianjin You Fa Steel Pipe Group Stock Co., Ltd. are subject to a Lock-Up Agreement Ending on 4-DEC-2021. These A Shares will be under lockup for 369 days starting from 30-NOV-2020 to 4-DEC-2021.
Details:
Li Maojin, Xu Guangyou, Yin Jiuxiang, Xu Guangli, Chen Kechun, Chen Guangling, Liu Zhendong and Zhu Meihua, controlling shareholders and actual controllers of the Company, commits within 36 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. 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 month from listing, lock-up period will be automatically extended for another 6 months. 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.
All other shareholders of the Company commit Within 12 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. 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 month from listing, lock-up period will be automatically extended for another 6 months. 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.
Tianjin You Fa Steel Pipe Group Stock Co Ltd is a China-based company mainly engaged in the research and development, production and sales of welded steel pipes. The Company's products include welded round pipes, galvanized round pipes, square rectangular welded pipes, square rectangular galvanized pipes, steel-plastic composite pipes and spiral welded pipes. Its products are used in water supply, drainage, gas supply, heating, fire protection engineering, steel structure, construction engineering and equipment manufacturing. The Company mainly conducts its businesses in the China market.