Medilines Distributors, Inc.PSE: MEDIC

Medilines Distributors Incorporated: Initial Public Offering - Release of Shares under Lock-Up

· Issued by Medilines Distributors, Inc.
NOTICE
Subject Medilines Distributors Incorporated: Initial Public Offering - Release of Shares under Lock-Up
Company Name Medilines Distributors Incorporated
Security Details
Type of Security Stock Symbol Par Value
Common Shares MEDIC Php 0.25
Reference(s) LN00368-2021 dated December 3, 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 Nov 16, 2021
Details of the Mandatory Lock-up
Name of Shareholder No. of Shares Stock Symbol Percentage
Maria Patricia Dolor V. Yambing 400 MEDIC -
Norman K. Macapagal 400 MEDIC -
Fernando Sixto V. Segovia 400 MEDIC -
Brian N. Edang 400 MEDIC -
Gerardo J. Guerrero 400 MEDIC -
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
MEDIC 2,000
Expiry of Lock-up Aug 1, 2022
Effective Date of Tradability of the Shares Aug 2, 2022
Other Relevant Information

As previously announced in LN00368-2021 dated December 3, 2021, in view of Medilines Distributors Incorporated's ("MEDIC" or the "Company") compliance with the lock-up requirement of the Exchange, 2,000 common shares were subject to a lock-up period of 365 days from full payment date of such shares.

In a letter dated July 25, 2022, Philippine National Bank, acting through its Trust Banking Group (the "Escrow Agent"), informed the Exchange that the lock-up period for the 2,000 MEDIC common shares owned by the above-mentioned Locked-up Shareholders will expire on August 1, 2022.

In view thereof, 2,000 MEDIC common shares that were held in escrow will be eligible for trading starting on Tuesday, August 2, 2022, subject to compliance with the Exchange's rule on lodgment of securities.

For your information and guidance.

Filed on behalf by:
Name Norberto Moreno Jr.
Designation Listings Department

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