NOTICE
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Subject
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Solar Philippines Nueva Ecija Corporation: Initial Public Offering - Release of Shares under Lock-Up
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Company Name
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Solar Philippines Nueva Ecija Corporation
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Security Details
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Type of Security
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Stock Symbol
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Par Value
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Common Shares
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SPNEC
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Php 0.10
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Reference(s)
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LN00390-2021 dated December 15, 2021
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Type of Transaction(s)
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Initial Public Offering
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Lock-up Details
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Duration of Lock-up
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365 days
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Applicable Lock-up Rule
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Article III, Part D, Section 2 of the Consolidated Listing and Disclosure Rules, as amended
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Escrow Agent
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Philippine National Bank - Trust Banking Group
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Date of Execution of Escrow Agreement
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Nov 25, 2021
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Details of the Mandatory Lock-up
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Name of Shareholder
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No. of Shares
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Stock Symbol
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Percentage
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Leandro Antonio L. Leviste
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1
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SPNEC
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-
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J. Carlitos G. Cruz
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1
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SPNEC
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-
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Benjamin I. Espiritu
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1
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SPNEC
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-
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Carlos Jose P. Gatmaitan
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1
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SPNEC
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-
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Aresty M. Lapitan
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1
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SPNEC
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-
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Gino Antonio C. Cruz
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1
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SPNEC
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-
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Details of the Voluntary Lock-up (if applicable)
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Name of Shareholder
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No. of Shares
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Stock Symbol
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Percentage
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-
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-
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-
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-
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Total Shares to be Released from Lock-up
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Stock Symbol
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No. of Shares
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SPNEC
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6
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Expiry of Lock-up
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Jul 2, 2022
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Effective Date of Tradability of the Shares
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Jul 4, 2022
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Other Relevant Information
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As previously announced in Listing Notice No. LN00390-2021 dated December 15, 2021, in light of Solar Philippines Nueva Ecija Corporation's ("SPNEC" or the "Company") compliance with the 365-day lock-up requirement of the Exchange, six (6) SPNEC common shares were subject to a lock-up period of 365 days from the full payment of shares.
In a letter dated June 23, 2022, Philippine National Bank - Trust Banking Group (the "Escrow Agent"), informed the Exchange that the lock-up period for the six (6) SPNEC common shares owned by the above-mentioned Locked-up Shareholders, will expire on July 2, 2022.
In view thereof, the six (6) SPNEC common shares that were held in escrow will be eligible for trading starting on Monday, July 4, 2022.
For your information and guidance.
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Filed on behalf by:
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Name
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Norberto Moreno Jr.
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Designation
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Listings Department
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Solar Philippines Nueva Ecija Corporation