Citystate Savings Bank, Inc.: Private Placement - Release of Shares under Lock-Up
· Issued by Citystate Savings Bank Inc.
NOTICE
Subject
Citystate Savings Bank, Inc.: Private Placement - Release of Shares under Lock-Up
Company Name
Citystate Savings Bank, Inc.
Security Details
Type of Security
Stock Symbol
Par Value
Common Shares
CSB
Php 10.00
Reference(s)
LN00173-2021 dated August 5, 2021
Type of Transaction(s)
Private Placement
Lock-up Details
Duration of Lock-up
180 days
Applicable Lock-up Rule
Article V, Part A, Section 7 of the Consolidated Listing and Disclosure Rules, as amended
Escrow Agent
Bank of Commerce, acting through its Trust Services Group
Date of Execution of Escrow Agreement
Jul 21, 2021
Details of the Mandatory Lock-up
Name of Shareholder
No. of Shares
Stock Symbol
Percentage
Amb. ALC Holdings and Management Corp.
18,000,000
CSB
11.95
Top Ventures Investments and Management Corp.
7,800,000
CSB
5.18
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
CSB
25,800,000
Expiry of Lock-up
Feb 2, 2022
Effective Date of Tradability of the Shares
Feb 3, 2022
Other Relevant Information
As previously announced in LN00173-2021 dated August 5, 2021, in view of Citystate Savings Bank, Inc.'s ("CSB" or the "Bank") compliance with the lock-up requirement of the Exchange, 25,800,000 common shares were subject to a lock-up period of 180 days from listing date.
Further to the escrow agent's confirmation that the lock-up period has already expired, please note that, subject to compliance with the Exchange's rule on lodgment of securities, the 25,800,000 CSB common shares are eligible for trading.
