Friday, October 08, 2010 10:46:23 AM
The agreements cover a nine-month lockup period that precludes the trading of more than 17 million shares of common stock. The locked up shares are comprised of approximately 13.4 million free-trading shares along with warrants to purchase approximately 4 million shares. The lockup represents 13 percent of outstanding shares and 34 percent of outstanding warrants of Hyperdynamics stock. The agreements also state that 15 percent of the locked up shares would be released when the stock price reaches $3 a share for five consecutive trading days; 50 percent would be released when the price reaches $5 a share for five days; and 100 percent would be released when the stock price reaches $9 a share for the same period. The lockup agreements replace earlier agreements, which have expired.
Here is a link to the PR:
http://finance.yahoo.com/news/Hyperdynamics-Signs-Lockup-prnews-1079804379.html?x=0&.v=1
ZenaTech, Inc. (NASDAQ: ZENA) Launchs IQ Nano Drone for Commercial Indoor Use • HALO • Oct 10, 2024 8:09 AM
CBD Life Sciences Inc. (CBDL) Targets Alibaba as the Next Retail Giant for Wholesale Expansion of Top-Selling CBD Products • CBDL • Oct 10, 2024 8:00 AM
Foremost Lithium Announces Option Agreement with Denison on 10 Uranium Projects Spanning over 330,000 Acres in the Athabasca Basin, Saskatchewan • FAT • Oct 10, 2024 5:51 AM
Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru • ELEM • Oct 9, 2024 10:30 AM
Unitronix Corp Launches Share Buyback Initiative • UTRX • Oct 9, 2024 9:10 AM
BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING • BASA • Oct 9, 2024 7:30 AM