MANYCORE TECH (00068) has received voluntary extension of lock-up undertaking by executive directors for twelve months.

MANYCORE TECH (00068) announces that the Company has recently received undertakings from Mr. Huang Xiaohuang, co-founder, chairman and executive director, on behalf of Wintermatch International Limited (Wintermatch); Mr. Chen Hang, co-founder, executive director and chief executive officer, on behalf of Ineffable International Limited (Ineffable); Mr. Zhu Hao, co-founder, executive director and chief technology officer, on behalf of Peekaboo International Limited (Peekaboo); and Mr. Shen Bei, executive director and chief financial officer, in relation to the voluntary extension of or entry into lock-up periods for their respective interests in the Company (commencing from October 17, 2026), including: 238 million shares held by Wintermatch, wholly owned by Mr. Huang, representing approximately 13.79% of the total number of issued shares of the Company as at the date of this announcement; 170 million shares held by Ineffable, wholly owned by Mr. Chen, representing approximately 9.85% of the total number of issued shares of the Company as at the date of this announcement; 65 million shares held by Peekaboo, wholly owned by Mr. Zhu, representing approximately 3.77% of the total number of issued shares of the Company as at the date of this announcement; and 10.2 million shares in which Mr. Shen has an interest, being share options granted to him under the 2014 pre-IPO equity incentive plan to subscribe for a total of 10.2 million relevant shares, representing approximately 0.59% of the total number of issued shares of the Company as at the date of this announcement, which share options will be settled by shares issued to Wide Future Group Limited. As at the date of this announcement, the equity interests subject to the extension undertakings comprise 483.2 million shares, representing approximately 27.99% of the total number of issued shares of the Company (excluding treasury shares). Pursuant to the extension undertakings, as the executive directors remain optimistic about the Company's long-term value, core competitiveness and future prospects, Wintermatch, Ineffable and Peekaboo have each undertaken to further extend the original lock-up period in respect of their relevant equity interests by an additional 12 months until October 16, 2027 (inclusive), and Mr. Shen has entered into an undertaking not to sell his relevant equity interests during the period up to and including October 16, 2027. During such extended lock-up period, the executive directors will not, in any manner, directly or indirectly, sell or otherwise reduce their equity interests.