Certain A Shares of Road Environment Technology.,Ltd are subject to a Lock-Up Agreement Ending on 22-SEP-2023.
September 21, 2023
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Certain A Shares of Road Environment Technology.,Ltd are subject to a Lock-Up Agreement Ending on 22-SEP-2023. These A Shares will be under lockup for 1104 days starting from 13-SEP-2020 to 22-SEP-2023.
Details:
The Company?s holding shareholder and actual controller Li Guangming, Company?s shareholder Bai Caiqun and ESOP Wuhan Detian Zhongxiang Business Management Partnership Enterprise (Limited Partnership) committed to 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.
Shareholder and senior management Wu Jun, Company?s other shareholders committed: to 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.
Road Environment Technology Co Ltd is a China-based company mainly engaged in the research and development and industrial application of food and beverage residues, high-concentration brewing wastewater, sludge and solid waste harmless treatment and resource utilization technology. The Company focuses on the treatment and utilization of high water content waste such as distiller's grains, brewing wastewater, river and lake sludge, and engineering mud. Its main products and services include production and sales of distiller's grain bio-fermentation feed, river and lake sludge, and engineering mud treatment services. The Company primarily operates in the domestic market.