Where an Applicant's main activity is a business which has not been independent and earning revenue for at least two years, it must ensure that all Related Parties and Applicable Employees as at the date of Admission agree not to dispose of any interest in its Securities for one year from the Admission of its Securities.
This Rule will not apply in the event of an intervening court order, the death of a party who has been subject to this Rule or in respect of an acceptance of a take-over offer for the Issuer which is open to all Shareholders.
Guidance:
To minimise the risk of parties to lock-in arrangements subsequently being deemed to constitute concert parties under the Takeover Rules and Substantial Acquisition Rules, Applicants or their advisors may wish to consult the Irish Takeover Panel, 8 Upper Mount Street, Dublin 2 (+353 1 6789020) prior to drafting any lock-in agreement.
Euronext Dublin will not require a Substantial Shareholder to be the subject of a lock-in under Rule 5.2
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