What conditions do shareholders of listed companies on the main board and small and medium-sized board need to meet when applying for lifting the ban on restricted shares?

The Guidelines for Standardized Operation of Listed Companies in Shenzhen Stock Exchange (revised in 2020) revised and improved the conditions for lifting the ban on restricted shares. Article 4.3.5 stipulates that if a shareholder applies for the listing and circulation of restricted shares, it shall entrust the board of directors of the company to handle relevant procedures. To apply for lifting the restriction on the sale of restricted shares, the following conditions shall be met:

(1) The application period for lifting the restriction on the sale of shares expires;

(2) The lifting of the restrictions on the sale of shares held by shareholders will not affect the commitments made by shareholders in this offering;

(3) The shareholders who apply for lifting the sales restriction do not have any behaviors that damage the company's interests, such as occupying the company's funds and the company's illegal guarantee for shareholders;

(4) The shareholder who applies for lifting the sales restriction does not have any transfer restriction stipulated by laws, administrative regulations, departmental rules, normative documents or the business rules of this Exchange.

This article does not constitute any investment advice, because policy issues are time-sensitive. For relevant answers, please refer to the latest content released by official website.