PATEO (02889) has announced that the company has received voluntary undertaking letters from its listing cornerstone investors, Horizon and Huangshan SP. Accordingly, the cornerstone investors have voluntarily pledged to the company to extend the lock-up commitment on the offer shares they subscribed for under the relevant cornerstone investment agreements. Based on their firm confidence in the company's future prospects and long-term value, and to support the long-term business development and overall stability of the company, they have extended the initial six-month lock-up period from the listing date (including that date) to an eighteen-month lock-up period from the listing date (including that date). As of the date of this announcement, Horizon and Huangshan SP hold 2.1421 million H shares and 2.024 million H shares respectively, accounting for approximately 1.43% and 1.35% of the total issued shares. The board of directors believes that this voluntary extension of the lock-up commitment demonstrates the cornerstone investors' full confidence in the company's future prospects and their willingness to support the positive development of the company's business over the long term.
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