PATEO (02889) cornerstone investors voluntarily extend lock-up period

PATEO (02889) issues announcement, the company has received voluntary lock-up commitment letters from cornerstone investors Horizon and Huangshan SP. Based on this, the cornerstone investors have voluntarily committed to extending the lock-up period for the shares they have subscribed for in accordance with the cornerstone investment agreement. This extension is a demonstration of their strong confidence in the future prospects and long-term value of the company, to support the long-term business development and overall stability of the company. The original lock-up period of six months from the listing date (inclusive) has been extended to eighteen months from the listing date (inclusive) (voluntary extension of lock-up commitment). As of the date of this announcement, Horizon and Huangshan SP each hold 2.1421 million H shares and 2.024 million H shares, representing approximately 1.43% and 1.35% of the total issued shares, respectively. The board of directors believes that the voluntary extension of the lock-up commitment indicates that the cornerstone investors are confident in the future prospects of the company and are willing to support the positive development of the company in the long term.