Certain Ordinary Shares of Kangqiao Service Group Limited are subject to a Lock-Up Agreement Ending on 15-JUL-2022. These Ordinary Shares will be under lockup for 365 days starting from 15-JUL-2021 to 15-JUL-2022.
Details:
The Company has undertaken to the Stock Exchange that, no further Shares or securities convertible into equity securities (whether or not of a class already listed) may be issued by the Company or form the subject of any agreement to such issue (whether or not such issue of Shares or securities will be completed within six months from the Listing Date).
Controlling Shareholders have undertaken to the Stock Exchange and to the Company that, they will not and will procure that the relevant registered holder(s) (if any) of the company's Shares in which any of them has a beneficial interest will not in the period commencing on the date by reference to which disclosure of their shareholdings in our Company is made in this prospectus and ending on the date which is six months from the Listing Date, dispose of, nor enter into any agreement to dispose of or otherwise create any options, rights, interests or encumbrances in respect of, any of the Shares in respect of which they are shown to be the beneficial owner in this prospectus, and in the period of six months commencing from the date on which the period referred to in paragraph above expires, dispose of, nor enter into any agreement to dispose of or otherwise create any options, rights, interests or encumbrances in respect of, any of our Shares to such extent that, immediately following such disposal, or upon the exercise or enforcement of such options, rights, interests or encumbrances, they would cease to be our Controlling Shareholders.
The Company, except pursuant to the Capitalization Issue, the Global Offering and the exercise of the Over-allotment Option and the issue of Shares thereof, during the period commencing on the date of the Hong Kong Underwriting Agreement and ending on and including, the date falling six months after the Listing Date, has undertaken to each of the Sole Sponsor, the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters not to, without the prior written consent of the Sole Sponsor and the Sole Global Coordinator, allot, issue, sell, accept subscription for, offer to allot, issue or sell, contract or agree to allot, issue or sell, mortgage, charge, pledge, hypothecate, lend, grant or sell any option, warrant, contract or right to subscribe for or purchase, grant or purchase any option, warrant, contract or right to allot, issue or sell, make any short sell or otherwise transfer or dispose of or create an encumbrance over, or agree to transfer or dispose of or create an encumbrance over, either directly or indirectly, conditionally or unconditionally, any Shares or any other equity securities of our Company, or any interest in any of the foregoing (including any equity securities convertible into or exchangeable or exercisable for or that represent the right to receive, or any warrants or other rights to purchase, any Shares or other equity securities of our Company) or deposit any Shares or other equity securities of our Company with a depositary in connection with the issue of depositary receipts, or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Shares or any other equity securities of our Company, or any interest in any of the foregoing (including any equity securities convertible into or exchangeable or exercisable for or that represent the right to receive, or any warrants or other rights to purchase, any equity securities of our Company), or enter into any transactions with the same economic effect as any transaction specified above or offer to or agree to or announce or announce any intention to effect any transaction specified above.
During the period of six months commencing on the date on which the First Six-Month Period expires (the ôSecond Six-Month Periodö), the Company shall not enter into any of the transactions specified in paragraph above or offers to or agrees to or announces any intention to effect any such transaction, such that any Controlling Shareholder, directly or indirectly, would cease to be a controlling shareholder of the Company. The Company further agrees that, at any time during the Second Six-Month Period, in the event that our Company enters into any of the transactions specified in paragraph above or offers to or agrees to or announces, any intention to effect any such transaction, the Company shall take all reasonable steps to ensure that it will not create a disorderly or false market for any Shares or any other equity securities of the Company.
The Controlling Shareholders, has undertaken to each of the Company, the Sole Sponsor, the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters that at any time during the First Six-Month Period, they will not allot, issue, sell, accept subscription for, offer to allot, issue or sell, contract or agree to allot, issue or sell, mortgage, charge, pledge, hypothecate, lend, grant or sell any option, warrant, contract or right to subscribe for or purchase, grant or purchase any option, warrant, contract or right to allot, issue or sell, make any short sell or otherwise transfer or dispose of or create an encumbrance over, or agree to transfer or dispose of or create an encumbrance over, either directly or indirectly, conditionally or unconditionally, any Shares or any other equity securities of our Company, or any interest in any of the foregoing (including any equity securities convertible into or exchangeable or exercisable for or that represent the right to receive, or any warrants or other rights to purchase, any Shares or other equity securities of our Company) or deposit any Shares or other equity securities of our Company with a depositary in connection with the issue of depositary receipts, or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Shares or any other equity securities of our Company, or any interest in any of the foregoing (including any equity securities convertible into or exchangeable or exercisable for or that represent the right to receive, or any warrants or other rights to purchase, any equity securities of our Company), or enter into any transactions with the same economic effect as any transaction specified above or offer to or agree to or announce or announce any intention to effect any transaction specified above.
Further during the Second Six-Month Period, the controlling shareholders will not enter into any of the transactions specified in paragraph above.