Certain A Shares of Beijing FengShangShiJi Culture Media Co., Ltd. are subject to a Lock-Up Agreement Ending on 24-AUG-2023.
August 23, 2023
Share
Certain A Shares of Beijing FengShangShiJi Culture Media Co., Ltd. are subject to a Lock-Up Agreement Ending on 24-AUG-2023. These A Shares will be under lockup for 1114 days starting from 5-AUG-2020 to 24-AUG-2023.
Details:
The company?s controlling shareholder Sha Xiaolan and actual controllers Sha Xiaolan and Wang Fangyun, Harmonious Growth II (Yiwu) Investment Center (Limited Partnership) and Tibet Indigo Culture Communication Partnership (Limited Partnership) committed not to transfer or entrust to a third party the company?s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 36 months since the company?s 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.
Funshine Culture Group Co Ltd, formerly Beijing Funshine Culture Media Group Co Ltd, is a China-based company mainly engaged in the design and production services of large-scale cultural performances, cultural tourism performances, landscape art lighting and performances and others. The large-scale cultural and performing arts activities cover the opening and closing ceremonies of large-scale sports events, television (TV) performances and others, and provide general production services or lighting design and production services. The cultural tourism performance services mainly provide concept planning, artistic creative design and production services for cultural tourism performance activities such as live tourism performance and theme park tourism performances. The landscape art lighting and interpretation serves the urban landscape art lighting market and high-end landscape lighting art interpretation market.