Botai Vehicle Connectivity (02889.HK): Cornerstone investors voluntarily extend lock-up period

Gelonghui, March 30 - Botai Vehicle Networking (02889.HK) announced that the company has entered into a cornerstone investment agreement with Horizon Together Holding Ltd. (“Horizon”) and JSC International Investment Fund SPC (“Huangshan SP”) (collectively referred to as “Cornerstone Investors”); and the Cornerstone Investors have committed to a six-month lock-up period for a total of 4,166,020 shares of the company’s H-shares starting from the listing date (including that date).

The company has received voluntary commitment letters from the Cornerstone Investors Horizon and Huangshan SP, in which the Cornerstone Investors have voluntarily committed to the company to extend the lock-up commitment for the shares subscribed under the relevant cornerstone investment agreement. Based on their firm confidence in the company’s future prospects and long-term value, and to support the company’s long-term business development and overall stability, they will extend the originally required six-month lock-up period starting from the listing date (including that date) to an 18-month lock-up period (“Voluntary Extended Lock-up Commitment”).

As of the date of this announcement, Horizon and Huangshan SP hold 2,142,060 H-shares and 2,023,960 H-shares, respectively, accounting for approximately 1.43% and 1.35% of the total issued shares. The board of directors believes that the aforementioned voluntary extended lock-up commitment indicates that the Cornerstone Investors are confident in the company’s future prospects and are willing to support the positive development of the company’s business in the long term.