MREIT Inc.: Initial Public Offering - Release of Shares under Lock-Up
· Issued by Mreit, Inc.
NOTICE
Subject
MREIT Inc.: Initial Public Offering - Release of Shares under Lock-Up
Company Name
MREIT Inc.
Security Details
Type of Security
Stock Symbol
Par Value
Common Shares
MREIT
Php 1.00
Reference(s)
LN00234-2021 dated September 29, 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, as amended
Escrow Agent
BDO Unibank, Inc. - Trust and Investments Group
Date of Execution of Escrow Agreement
Sep 9, 2021
Details of the Mandatory Lock-up
Name of Shareholder
No. of Shares
Stock Symbol
Percentage
Jesus B. Varela
1,000
MREIT
0
Sergio R. Ortiz-Luis, Jr.
1,000
MREIT
0
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
MREIT
2,000
Expiry of Lock-up
Apr 23, 2022
Effective Date of Tradability of the Shares
Apr 25, 2022
Other Relevant Information
As previously announced in Listing Notice No LN00234-2021 dated September 29, 2021, in light of MREIT Inc.'s ("MREIT" or the "Company") compliance with the lock-up requirement of the Exchange, 2,000 MREIT common shares were subjected to a lock-up period of 365 days from full payment date.
In a letter dated April 20, 2022, BDO Unibank, Inc. - Trust and Investments Group (the "Escrow Agent"), informed the Exchange that the lock-up period for the 2,000 MREIT common shares owned by the above-mentioned locked-up shareholders will end on April 23, 2022.
In view thereof, the 2,000 MREIT common shares that were held in escrow will be eligible for trading starting on Monday, April 25, 2022.
