XTALPI (02228): Co-Founders Voluntarily Extend Lock-Up Commitment Further

Stock News
05/25

XTALPI (02228) announced that the expiration dates of the lock-up commitments for shares beneficially held by Dr. Wen Shuhao, Dr. Ma Jian, and Dr. Lai Lipeng (the Founders), each a co-founder and executive director of the company, have been voluntarily extended from June 12, 2025, to June 12, 2026. The company has been informed that, to express their confidence in the company's long-term value, the Founders have voluntarily further extended the expiration dates of their lock-up commitments. They have committed not to sell certain shares of the company in which they hold beneficial interests (the Relevant Shares) for an additional twelve-month period from June 12, 2026 (the original expiration date) to June 12, 2027 (the new expiration date). As of the date of this announcement, the total number of Relevant Shares is 555 million, representing approximately 12.9% of the company's issued share capital. This includes company shares held by entities controlled by the relevant Founders and company shares held by QuantumPharm Roc Holdings Limited (QuantumPharm Roc). These shares are the Relevant Shares for which the relevant Founders hold unexercised share options and will be transferred to the relevant Founders by QuantumPharm Roc upon the exercise of those options.

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