The lock-up period of the senior management of the venture board is prolonged

Kuanzhiyong reporter Kuanzhiyong from Shenzhen in view of the market generally hot discussion of the enterprise board executives resigned to circumvent the restrictions of reduction, yesterday, the Shenzhen Stock Exchange issued regulations on the Gem board directors, supervisors, senior managers of the reduction of the behavior of more detailed provisions. Relevant statistics show that as of mid-September, a total of 30 gem companies, 51 directors, supervisors, senior managers resigned. IPO company directors, supervisors, senior executives in less than a year after the company listed on the surprise resignation, triggering the market for the company's business stability concerns.　　As some directors, supervisors and executives are shareholders of restricted shares in the company, many investors worry that the officers ' surprise resignation is to avoid the regulator's rules on their reduction of shares in order to achieve a smooth reduction of shares, to cash huge wealth.　　In response to market concerns, yesterday Shenzhen officially announced in the "on the further regulation of the gem listed companies directors, supervisors and senior managers to buy and sell the company's stock behavior of the notice", specifically for this type of separation of shares issued more detailed provisions, the provisions from the date of the promulgation of the commencement of implementation. In accordance with the provisions of the "notice", the Gem IPO on the first day of listing 6 months after the declaration of Directors, supervisors, senior executives, from the date of separation within 18 months can not transfer their direct holdings of the gem company shares. Directors, supervisors and senior executives who declare their departure from the 7th to 12th month of the IPO will not be able to transfer the shares directly held within 12 months after their departure.　　In addition, the Shenzhen stock also encourages directors, supervisors and senior executives to issue additional commitments such as extension of lock-up periods and setting minimum reduction prices. In accordance with the new rules of Shenzhen, directors, supervisors and senior executives shall, in writing, entrust the listed companies to Shenzhen to declare their separation information in a timely manner. From the date of declaration of separation information, the shares held by the departing person will be locked according to the regulations.　　Shenzhen also stipulates that the separation of personnel from the separation of information reporting date of 6 months, the turnover of the company's shares will also be locked. Prior to the Shenzhen in the gem listed companies to standardize the operation of the guidelines clearly pointed out that the listed company directors, supervisors, senior executives and commissioned by the listed companies to declare personal information, China clearing Shenzhen branch from its declared date of departure within 6 months of its holding and new shares of the company to be all locked,　　After the expiration of its holding the company's unlimited sale conditions of all the shares automatically unlocked. October 29, Chen Dongzheng, chairman of the Shenzhen Stock Conference, hinted at a meeting that Shenzhen was prepared to make provisions for the reduction of directors, supervisors and executives of the gem.　　At that time, Chen Dongzheng said, many gem companies are currently facing problems in the board have been encountered, such as 2007, the Panel has also faced the release of the stock reform, and later Shenzhen further released the details of the reduction, the final plate is basically not affected by the ban. China Merchants Securities Sales department General manager of the evaluation said that the company's introduction of the regulations is an excellent "trap" policy. Although the directors, supervisors and executives who resigned in the first year of the IPO are not necessarily trying to reduce their holdings, the rules do blockSome of the directors, supervisors, executives after the sudden resignation of surprise reduction behavior.　　The Board of Directors, supervisors and senior executives who declare their leave within 6 months of the IPO will not be able to transfer their shares of the gem company within 18 months from the date of separation.　　Directors, supervisors and senior executives who declare their departure from the 7th to 12th month of the IPO will not be able to transfer the shares directly held within 12 months after their departure. When the directors, supervisors and senior executives leave the office, they shall entrust the listed companies to the Shenzhen to declare their separation information in written form. From the date of declaration of separation information, the shares held by the departing person will be locked according to the regulations.