YUANJIE SEMICONDUCTOR Receives Supplementary Material Requirements for Overseas Listing Filing, Focusing on Historical Nominee Shareholding Verification and Consistency of Offering Plan
NewTimeSpace News: Yuanjie Semiconductor has received supplementary material requirements from regulators during the filing process for its proposed overseas offering and listing. The Company is required to clarify historical nominee shareholding arrangements and compliance of all prior equity transfers, ensure consistent maximum offering volume across filing documents and prospectus, verify compliance of employee equity incentive plans regarding external participants and share retention by departed grantees, and confirm continuous compliance with foreign investment access rules pre and post listing and full circulation. Legal counsel shall conduct relevant verification procedures and issue definitive legal opinions covering all above matters.
NewTimeSpace News: Recently, Yuanjie Semiconductor Technology Co., Ltd. received supplementary material requirements issued by regulatory authorities in the course of filing for overseas securities offering and listing.
Third, clarify whether all participants under the employee equity incentive plan are bona fide employees of the Company and whether any external persons are included. For incentive recipients who retain incentive shares after resignation, explain whether such arrangements comply with original contractual terms and whether any disputes or potential disputes exist. Deliver definitive conclusions on lawfulness of implemented equity incentive plans and the existence of benefit transfer.
Fourth, supplement confirmation on whether the business scopes and actual operations of the issuer and its subsidiaries involve sectors restricted or prohibited for foreign investment, and verify sustained compliance with foreign investment access requirements after the proposed listing and full circulation.
Legal counsel shall complete verification procedures on all above issues and issue definitive legal opinions.
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