Lock in deal and warrants at 50p4 Mar 2019 10:58
Lock-in arrangements and relationship agreement CMS Venture and A&B (HK) have each entered into lock-in and orderly market agreements with the Company and Panmure Gordon, pursuant to which the Subscribers have undertaken to the Company and Panmure Gordon (subject to certain limited exceptions including disposals by way of acceptance of a recommended takeover offer for the entire issued share capital of the Company), not to dispose of the Subscription Shares held by them following Admission or any other securities in exchange for or convertible into, or substantially similar to, new Ordinary Shares (or any interest in them or in respect of them) at any time prior to the twelve month anniversary of Admission. Furthermore, the Subscribers have also undertaken to the Company and Panmure Gordon not to dispose of their Subscription Shares for a further twelve months following the expiry of such period otherwise than through the Company’s broker (on a best execution only basis) with a view to maintaining an orderly market. The Subscribers have entered into a relationship agreement with the Company to take effect on or around the date of Admission, pursuant to which all transactions and arrangements between the Company and the Concert Party members will be at arm’s length and on normal commercial terms