Restricted Securities
Sydney, May 16, 2014 AEST (ABN Newswire) - 99 Wuxian Limited (99wuxian) (
ASX:NNW) refers to 54,569,500 shares issued on 31 May 2013 (Pre-IPO Shares), prior to the listing of 99wuxian on ASX. 36,834,413 shares of the Pre-IPO Shares (Restricted Shares) were subject to holders of the Restricted Shares entering into restriction agreements in relation to these shares. The holders of the Restricted Shares agreed to a restriction period of 12 months from the date of official quotation of 99wuxian, being until 8 October 2014. The Replacement Prospectus at page 111 also set out that the Restricted Shares would be escrowed until 12 months from date of official quotation.
In accordance with ASX listing rule 3.10A, 99wuxian advises that 36,834,413 shares are due to be released from ASX imposed escrow on 31 May 2014 ("ASX Escrow").
99wuxian confirms that, despite the ASX Escrow period ending on 31 May 2014, the Restricted Shares will continue to be subject to voluntary escrow until 8 October 2014. The Restricted Shares will remain subject to a holding lock and cannot be traded on ASX or transferred.
Prior to the shares being released from voluntary escrow, the Company will release an announcement in accordance with ASX listing rule 3.10A, notifying ASX that the voluntary escrow period has ended.
To view the original company release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-797592.pdf
About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.
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