Replies to post #3557 on Hyperdynamics Corp (HDYNQ)

[gpg]

The details of the lock-up agreement:

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