87,964,918 Ordinary Shares of iWOW Technology Limited are subject to a Lock-Up Agreement Ending on 14-APR-2023.
April 14, 2023
Share
87,964,918 Ordinary Shares of iWOW Technology Limited are subject to a Lock-Up Agreement Ending on 14-APR-2023. These Ordinary Shares will be under lockup for 366 days starting from 13-APR-2022 to 14-APR-2023.
Details:
Controlling Shareholders Soo, Bo and Kau Wee Lee have voluntarily undertaken for Lock-up for the shares held by them, for a period of six (6) months from the Listing Date (“Initial Period”), to the Sponsor and Issue Manager, and the Company.
For the Initial Period, the Restrictions shall apply to all Shares held by Kau Wee Lee immediately before the Listing, being 117,192,056 Shares (representing approximately 46.8% of the Company's post-Placement share capital). For the six (6) months period after the InitialPeriod, the restriction shall apply to 50% of the Shares (i.e. 58,596,028 shares) held directly by Kau Wee Lee.
4,721,784 Shares held by Soo will be subject to moratorium for the period of 12 months from the Listing Date (both dates inclusive).
To demonstrate their commitment to the Company, each of Bo, Ashokan and Ho which acquired an aggregate of 8,679,832 Shares (adjusted for the ShareSplit and the Share Consolidation) from Soo, less than 12 months prior to the Listing have each undertaken to comply with the Restrictions in respect of the entire of their respective shareholdings (which would include the aggregate of 8,679,832 Shares transferred to them) in the share capital of the Company for the period of 12 months from the Listing Date (both dates inclusive).
For the Initial Period, the Restrictions shall apply to all Shares held directly by Mah and Chen immediately before the Listing, being an aggregate of 31,253,124 Shares (representing approximately 12.5% of our Company's post-Placement share capital). For the six (6) months period after the Initial Period, the restriction shall apply to 50.0% of the Shares held by Mah and Chen (i.e. 15,626,562 shares) immediately before the Listing.
Restrictions shall apply, in respect of the profit portion (i.e. 340,712 shares) of the Shares that he holds immediately before the Listing, pursuant to Rule 422(2) of the Catalist Rule, for the period of 12 months from the Listing Date (both dates inclusive).
iWOW Technology Limited is a Singapore-based technology provider. The Company specializes in integrated wireless Internet of things (IoT) solutions offered as a service. The principal activities of the Company are that of an investment holding company, research and development, and the manufacturing of wireless communication equipment. It offers IoT solutions in smart metering, smart tracking, and smart city applications. Its segments include Internet of things-as-a-Service (IaaS), Smart City Solutions (SCS), Trading & Others, Wireless Engineering Solutions (WES), and Datacomm & Enterprise Solutions (DES). Its SCS segment provides customized design and conceptualization of wireless IoT solutions, as well as the manufacturing and production of the products. Its IaaS segment is engaged in providing the design and conceptualization of the solution and the manufacturing and production of the products. Its products include Smart Metering, Trace Token, Alarm Alert System (AAS), among others.
IWOW TECHNOLOGY LIMITED 
