Certain Ordinary Shares of PT Lovina Beach Brewery Tbk are subject to a Lock-Up Agreement Ending on 30-MAY-2024. These Ordinary Shares will be under lockup for 237 days starting from 6-OCT-2023 to 30-MAY-2024.

Details:
Based on Article 2 paragraph 1 of OJK Regulation No. 25/2017, any party who obtains shares and/or other equity securities from the Company at a price and/or conversion value and/or exercise price below the Offering Price within 6 (six) months prior to submitting a registration statement to OJK, is prohibited to transfer part or all of the ownership of the issuer's equity securities up to 8 (eight) months after the registration statement becomes effective.

In order to provide protection to public shareholders, based on a Statement Letter from Christopher Sumasto Tjia as the controller of the Company dated 12 July 2023, stated that he will not relinquish control of the Company within a period of at least 1 (one) year after the Registration Statement becomes effective.