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MILESTONE (MMD): Lock-up agreement issues connected with changes in shareholding structure of the Company

The Board of Directors of Milestone Medical, Inc. (“the Issuer”, “Company”) informs that due to some changes in shareholding structure of the Issuer (of which the Company has informed today through ESPI current report no. 2/2014) made through the sale of 2,000,000 (two million) shares by shareholder Mr. Feng Yulin to shareholders Milestone Scientific Inc. and United Systems Inc. (indirectly to Mr. Tom Cheng), both two new owners of 2,000,000 shares of the Company agreed to sign on these shares lock-up agreements on the same terms as Mr. Feng Yulin signed earlier.

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Due to above changes, still commitment on the transferability of the Company’s shares of a temporary exemption will cover all earlier issued 20,000,000 (twenty million) shares of the Issuer’s common stock, particularly:

• 10,995,000 (100%) of the Issuer’s shares of common stock held by shareholder Milestone Scientific, Inc.;

• 2,000,000 (100%) of the Issuer’s shares of common stock held by shareholder Ms. Dong Bingmei (also by Mr. Feng Yulin acting in concert with Ms. Dong Bingmei;

• 1,600,000 (100%) of the Issuer’s shares of common stock held by shareholder Mr. Zhu Yun – the Company’s Director;

• 1,600,000 (100%) of the Issuer’s shares of common stock held by shareholder Mr. Wang Tao;

• 1,325,000 (100%) of the Issuer’s shares of common stock held by shareholders United Systems Inc. and Mr. Tom Cheng (United Systems Inc. is a subsidiary of Mr. Tom Cheng); and

• Other 2,480,000 (100%) of the Issuer’s shares of common stock held by shareholders, who are holding no more than 5% of votes at the General Meeting of Shareholders of the Company.


Legal basis: § 3 subparagraph 1 of the Exhibit 3 to the Alternative Trading System Rules “Current and Periodical Information in the Alternative Trading System on the NewConnect Market"



Osoby reprezentujące spółkę:
Joseph D'Agostino - CFO

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