Certain A Shares of Zhejiang Taifu Pump Co., Ltd are subject to a Lock-Up Agreement Ending on 25-MAY-2023.
May 24, 2023
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Certain A Shares of Zhejiang Taifu Pump Co., Ltd are subject to a Lock-Up Agreement Ending on 25-MAY-2023. These A Shares will be under lockup for 738 days starting from 17-MAY-2021 to 25-MAY-2023.
Details:
The company's actual controller husband and wife Chen Yiwen, Lin Hui, Wenling Dijiu Electronic Technology Co., Ltd., Wenling Yitai Investment Partnership Enterprise (Limited Partnership),Wenling Hongtai Investment Partnership Enterprise (Limited Partnership) which are controlled by the company's holding shareholder, actual controller, Company's directors, supervisors, management personnel Wu Peixiang, Zhou Wenbin, Liang Yongbing, Zhang Xingrong, Lin Hongwei who indirectly hold shares in the company through Wenling Yitai Investment Partnership Enterprise (Limited Partnership),Wenling Hongtai Investment Partnership Enterprise (Limited Partnership) promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. After the expiration of the above lockup period, during the term of service in the company, the number of shares in the company transferred each year will not exceed 25% of the total shares held in the company.
The company's shareholders Mao Shiliang, Shao Yutian, Li Yong, Mao Shijun, Pan Junping, Zhao Linsen, Zhang Zheyang promised within 12 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. After the expiration of the above lockup period, during the term of service in the company, the number of shares in the company transferred each year will not exceed 25% of the total shares held in the company.
Wu Peixiang, Zhou Wenbin, Liang Yongbin additionally promised If the closing price of the company's share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company's share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for at least 6 months
Zhejiang Taifu Pump Co Ltd is a China-based company primarily engaged in the research, development, production and sales of civil water pumps. The Companyâs main products include onshore pumps, small submersible pumps, well submersible pumps, circulating pumps and energy-saving pumps. Its products are mainly used in agricultural irrigation, domestic water, deep well water extraction, livestock water and hot water circulation, among others. It is also engaged in the provision of accessories. The Company mainly distributes its products to overseas markets, including Asia, North America, Africa and Europe.