Treasure Global executes lock-up agreement with major shareholders

Treasure Global announced the execution of a lock-up agreement with major shareholders, collectively holding 9,983,416 shares, which accounts for 36.40% of the company’s outstanding shares. “This strategic move underscores the company’s unwavering commitment to stabilizing stock prices and enhancing investor confidence,” the company stated. According to the terms of the agreement, the signatories have pledged to refrain from any disposition of common stock or securities convertible into shares of Treasure Global Inc for a duration of one year, starting from November 10, 2023. The agreement allows for certain exceptions, permitting specific transactions such as gifts, family transfers and inclusion in employee benefit plans. “We view this Lock-up Agreement as a testament to our unwavering commitment to fostering a resilient and sustainable investment climate for our valued shareholders,” stated Chong Chan “Sam” Teo, Chief Executive Officer of Treasure Global Inc. “We are confident that this initiative, covering a substantial portion of our outstanding shares, will strengthen investor confidence and pave the way for the Company’s sustained growth and success.”