Treasure Global Inc Announces Major Shareholder Lock-Up Agreement, Collectively Holding 9,983,416 Shares, Which Accounts For 36.40% Of The Company's Outstanding Shares
Portfolio Pulse from Benzinga Newsdesk
Treasure Global Inc (NASDAQ:TGL) has announced a Lock-up Agreement with major shareholders, holding 36.40% of the company's outstanding shares, to stabilize stock prices and boost investor confidence. The agreement prevents the sale of these shares for one year starting November 10, 2023, with certain exceptions allowed.
November 13, 2023 | 1:36 pm
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POSITIVE IMPACT
Treasure Global Inc's Lock-up Agreement with major shareholders is a positive move to stabilize the stock price and build investor trust by preventing the sale of a significant share portion for a year.
The Lock-up Agreement indicates a strong commitment from major shareholders and the management to the company's future, which is likely to be perceived positively by the market. By locking in a substantial portion of shares, the company is aiming to reduce potential stock volatility and protect against market sell-offs, which could lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100