1. AMTD Digital extends lock-up period for shares until November 2027. 2. Directors and officers will not sell their shares during this period. 3. The extension supports stability in share price for HKD. 4. This is an extension of a previous lock-up agreement announced in 2022. 5. The move may reduce market supply and increase demand for HKD.
Lock-up extensions generally reduce supply pressure, potentially stabilizing and increasing price, similar to past examples like SPACs with lock-up agreements gaining price stability post extensions.
The lock-up extension indicates confidence from management, likely attracting investor interest and reducing volatility, impacting price dynamics significantly.
The extended lock-up until 2027 suggests a sustained commitment from insiders, positively influencing market perception over time, akin to the long-term price stabilization seen in other tech stocks post lock-up extensions.
AMTD Digital Inc. ("AMTD Digital") (NYSE:HKD), a NYSE listed company that is a comprehensive digital solutions and global hospitality and VIP services platform headquartered in France, announced today that it has received confirmation from all relevant parties that AMTD Group, AMTD IDEA Group and directors and officers of AMTD Digital undertake not to sell any shares they own in AMTD Digital in the open market before November 2027, an extension of the lock up undertaking initially announced on August 16, 2022 by AMTD Digital.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE:HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital's announcements, please visit https://ir.amtdigital.net/investor-news.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group and/or AMTD Digital, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group with the SEC. All information provided in this press release is as of the date of this press release, and none of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group undertakes any obligation to update any forward-looking statement, except as required under applicable law.
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