LN00241-2022

NOTICE

Subject Bank of Commerce: Initial Public Offering – Release of Shares under Lock-Up
Company Name Bank of Commerce
Security Details
Type of Security Stock Symbol Par Value
Common Shares BNCOM Php 10.00
Reference(s) LN00090-2022 dated March 29, 2022
Type of Transaction(s) Initial Public Offering
Lock-up Details
Duration of Lock-up 180 days
Applicable Lock-up Rule Article III, Part D, Section 2 of the Consolidated Listing and Disclosure Rules, as amended
Escrow Agent Philippine Commercial Capital, Inc. – Trust and Investment Group
Date of Execution of Escrow Agreement Mar 11, 2022
Details of the Mandatory Lock-up
Name of Shareholder No. of Shares Stock Symbol Percentage
San Miguel Properties, Inc. 447,711,800 BNCOM 31.91
San Miguel Corporation Retirement Plan 432,626,860 BNCOM 30.84
Details of the Voluntary Lock-up (if applicable)
Name of Shareholder No. of Shares Stock Symbol Percentage
- - - -
Total Shares to be Released from Lock-up
Stock Symbol No. of Shares
BNCOM 447,711,800
BNCOM 432,626,860
Expiry of Lock-up Sep 27, 2022
Effective Date of Tradability of the Shares Sep 28, 2022
Other Relevant Information

As previously announced in Listing Notice No. LN00090-2022 dated March 29, 2022, in light of Bank of Commerce’s (“BNCOM” or the “Company”) compliance with the lock-up requirement of the Exchange, 880,338,660 BNCOM common shares were subject to a lock-up period of 180 days from listing date.

In a letter dated March 11, 2022, Philippine Commercial Capital, Inc. – Trust and Investment Group, the Escrow Agent, informed the Exchange that the lock-up period for the 880,338,660 BNCOM common shares owned by the above-mentioned Locked-up Shareholder, will expire on September 27, 2022.

In view thereof, the 880,338,660 BNCOM common shares that were held in escrow will be eligible for trading starting on Wednesday, September 28, 2022.

For your information and guidance.
Filed on behalf by:
Name Norberto Moreno Jr.
Designation Listings Department