Shenzhen sword refers to the extension of the lock-up period of senior executives ' shareholding

Every reporter Zhu Xiuwei executive resignation tide, coupled with the lifting of the huge reduction of shareholder's impulse, the gem became a rich board, but also became the target, the regulatory layer seems to sit still.　　On the first anniversary of the gem, just over the past 4 days, the Shenzhen stock office issued a new regulation, which refers to the exit of the gem executives, to extend the lock-up period. Yesterday Shenzhen Web site in the prominent position issued the "on the further standardization of the gem listed companies directors, supervisors and senior managers to buy and sell the company's stock behavior notice", the Gem executives, especially after the withdrawal of the behavior of the new requirements. One of the most central provisions of this rule is that if the gem executive declares his resignation within six months from the date of IPO, including the sixth month, the shares of the company which are directly held shall not be transferred within 18 months from the date of the Declaration of separation, and between the seventh and 12th months from the date of IPO of the initial public offering (　　Including the seventh month, the 12th month, the Declaration of separation, from the date of the Declaration of separation within 12 months shall not transfer its directly held shares of the company. "has been heard in the Office of the High Commissioner for the resignation, reduction is very concerned about, but also guess there will be measures, but did not think the speed so fast, the intensity is far beyond the expectations."　　"See the new rules as the first batch of 28 companies of the Chief Secretary of the company issued the above sigh." Previously, the Shenzhen stock company stipulated that the turnover of senior executives, after six months of separation, reduce the number of shares of the corporation shall not exceed 50% of the total shareholding, and after 12 months, the reduction is unrestricted. According to incomplete statistics, nearly 40 gem executives, after the listing resigned, of which 21 of the senior executives held shares of the total market value reached 5 billion yuan.　　After the implementation of the new rules, leaving senior executives want to reduce, time must be postponed. According to the new rules, the possibility of late resignation is earlier than the lifting of the ban earlier. For example, a company listed in October 2010, if a senior executive listed 3 months after the resignation, that is, resigned in January 2011, under the new rules, its shares will be locked for 18 months, the date of the ban is July 2012.　　If the listing 7 months resignation, its shares locked for 12 months, the lifting date is May 2012, but if the listing 1 years after the resignation, according to previous provisions, resigned six months later can be lifted, the lifting date of April 2012. In addition, it is also stipulated that the company should encourage the listed companies to prolong the lock-up period and set a minimum reduction price.　　The sponsor organizations are required to focus on the turnover of directors and supervisors of listed companies, supervise the directors to fulfill their commitments, and verify the compliance of the limit of the stock market. "The last two, appears to be a soft rule, but for the upcoming IPO gem Company, the extension of the lock-up period, set the price of reduction and so on, these may seem necessary, I think the future listing of the gem companies will have a lot of this regulation."　　A sponsor of the National letter Securities to the reporter analysis. Two consecutive days of the gem, in the fall yesterday to stabilize, then the new initiative on the gem two-tier market trend in the end what impact? "Limit the turnover of senior management, the gem market is positive, but the recent period of time to reduce the gem more of the investment institutions and other shareholders, so good can only be considered psychological level, the future gem reduction will not be significantly weakened." "A private-equity person in Shenzhen analyzed to reporters.