DDMP REIT, Inc. : Initial Public Offering - Release of Shares under Lock-Up
Company Name
DDMP REIT, Inc.
Security Details
Type of Security
Stock Symbol
Par Value
Common shares
DDMPR
1.00
Reference(s)
LN00065-2021 dated March 23, 2021
Type of Transaction(s)
Initial Public Offering
Lock-up Details
Duration of Lock-up
365 days
Applicable Lock-up Rule
Article III, Part D, Section 2 of the Consolidated Listing and Disclosure Rules, as amended
Escrow Agent
PNB acting through its Trust Banking Group
Date of Execution of Escrow Agreement
Mar 5, 2021
Details of the Mandatory Lock-up
Name of Shareholder
No. of Shares
Stock Symbol
Percentage
Antonio Go
1
DDMPR
-
Edgardo Lacson
1
DDMPR
-
Rene Buenaventura
1
DDMPR
-
Details of the Voluntary Lock-up (if applicable)
Name of Shareholder
No. of Shares
Stock Symbol
Percentage
-
-
-
-
Total Shares to be Released from Lock-up
Stock Symbol
No. of Shares
DDMPR
3
Expiry of Lock-up
Mar 24, 2022
Effective Date of Tradability of the Shares
Mar 25, 2022
Other Relevant Information
As previously announced in Listing Notice No. LN00065-2021 dated March 23, 2021, in light of DDMP REIT, Inc.'s ("DDMPR" or the "Company") compliance with the lock-up requirement of the Exchange, three (3) DDMPR common shares were subject to a lock-up period of 365 days from listing date.
In a letter dated March 14, 2022, Philippine National Bank, acting through its Trust Banking Group (the "Escrow Agent"), informed the Exchange that the lock-up period for the three (3) DDMPR common shares owned by the above-mentioned Locked-up Shareholders, will expire on March 24, 2022.
In view thereof, the three (3) DDMPR common shares that were held in escrow will be eligible for trading starting on Friday, March 25, 2022.
