PATEO (02889) shares rose more than 7% intraday. As of press time, the stock was up 4.24% at HK$56.50, with turnover of HK$11.8218 million.
On October 13, PATEO announced that, in order to further demonstrate the firm confidence of its directors and senior management in the group's long-term business development and intrinsic value, and to stabilize investor expectations, executive directors Ying Zhenkai, Zhang Fukai, Xu Zhenhui, Lai Weilin and employee director Zhang Yi made a written voluntary lock-up commitment to the company.
These individuals committed that, within 12 months from the date of the announcement, they will not, in any manner (including but not limited to secondary market sales, block trades, off-market negotiated transfers, pledges, establishment of trusts, equity swaps or derivative transactions), sell, transfer or dispose of shares they beneficially own or hold through employee incentive platforms, or create any other encumbrance affecting their interests in such shares.
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