Certain A Shares of IAT Automobile Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 27-MAR-2023.
March 27, 2023
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Certain A Shares of IAT Automobile Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 27-MAR-2023. These A Shares will be under lockup for 1096 days starting from 26-MAR-2020 to 27-MAR-2023.
Details:
The company's controlling shareholder, IAT Investments Co., Ltd. and actual controllers, Xuan Qiwu and Liu Jian 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 from the company's share listing date. After the expiry of the lock-up period, the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, direct and indirect, held by the present parties.
Zhang Liqiang, the current director of the company directly holding the company's shares, and the current supervisors of the company, Meng Xiaoguang, Wang Hongtao, Lan Xujun, and Zeng Xiaohua, the senior managers directly holding the company's shares, Zhang Liqiang and Lin Ling, Yanwen Yinbao and Yueda Investment, as shareholders of the company holding more than 5% of the shares, Yueda SME Green Development Venture Capital Fund as the concerted action of Yueda Investment Co., Ltd committed not to transfer or entrust to a third party the company's shares they hold directly or indirectly before the public offering, or allow the company to repurchase these shares within 12 months from the company's share listing date. After the expiry of the lock-up period, the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, direct and indirect, held by the present parties.
IAT Automobile Technology Co Ltd is a China-based company mainly engaged in the research and development (R&D) and manufacturing of automobiles and core components. The Company's R&D business includes vehicle R&D, platform R&D and architecture design, and intelligent key software and hardware R&D. The products developed and manufactured business mainly focus on V6 fuel and clean fuel engines, hybrid power systems such as range extenders, and core components related to automotive power systems such as reducers, couplers, range extenders, and integrated new energy powertrains. The Company operates its businesses primarily in the domestic market.