Treasure Global Announces 12-Month Voluntary Lock-Up by Major Shareholders Covering Over 51% of Outstanding Shares
KUALA LUMPUR, Malaysia, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Southeast Asia–anchored technology company, today announced that several of its major shareholders have voluntarily committed to a 12-month lock-up covering over 51% of the Company’s outstanding shares, effective November 14, 2025. The lock-up applies to all shares directly or indirectly owned by the participating shareholders, including any securities convertible into or exercisable for Company shares, demonstrating strong confidence in Treasure Global’s long-term strategy and supporting market stability.
The participating shareholders include 24 entities and individuals, representing over 51% of the Company’s outstanding shares.
Under the agreement, the signatories have pledged not to sell, transfer, pledge, or otherwise dispose of any common stock or securities convertible into Company shares for a period of 12 months, starting November 14, 2025. Standard exceptions permit certain transactions, such as gifts, family transfers, or inclusion in employee benefit plans, provided that the shares do not enter the public market.
During this period, any disposition of the locked-up shares requires the Company’s prior approval, ensuring alignment with Treasure Global’s strategic objectives.
The lock-up is supported by a group of major shareholders, including Treasure Global’s executive directors, Chan Meng Chun and Teo Chong Chan, as well as long-standing investors, strategic business partners, and employees participating through ESOS. Collectively, these stakeholders represent a meaningful portion of the Company’s shareholder base and reflect unwavering confidence in Treasure Global’s strategic direction and long-term growth roadmap.
“This voluntary lock-up of over 51% of our outstanding shares reflects deep conviction in Treasure Global’s long-term strategy,” said Carlson Thow, CEO of Treasure Global. “This strong alignment among our major shareholders enables us to execute confidently on key initiatives, including the OXI Wallet and UNIRWA token program, while supporting a stable, long-term shareholder base.”
During the lock-up period, the Company has instructed its transfer agent to place stop-transfer notations on the covered positions, and each participating shareholder has provided broker confirmations reflecting the restrictions. Any waiver requires prior approval from the Board.
Milestones and Growth Initiatives
This voluntary lock-up follows key milestones in Treasure Global’s fintech and digital asset initiatives, including development of the OXI Wallet platform and the UNIRWA token program. These advancements underscore the Company’s commitment to long-term growth, innovation, and expansion in AI, fintech, and real-world asset tokenization.
Treasure Global continues to strengthen its treasury management capabilities to ensure its financial resources are optimized for growth. The alignment between the Company and its long-term shareholders will support sustained value creation as Treasure Global executes its strategic roadmap.
About Treasure Global:
Treasure Global is a Malaysia-based technology solutions provider specializing in innovative platforms that drive digital transformation in retail and services. The Company’s flagship product is the ZCITY Super App, which integrates e-payment solutions with customer loyalty rewards to create a seamless online-to-offline user experience. As of June 2025, ZCITY has attracted over 2.7 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. Treasure Global continuously leverages cutting-edge technologies, including artificial intelligence and data analytics, to enhance its platform’s capabilities across e-commerce, fintech, and other verticals.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.
Factors that could cause actual results to differ materially include, without limitation, the Company’s ability to expand its e-commerce platform and F&B distribution business, customer acceptance of new products and services, changes in economic conditions affecting its operations, the outcome of partnership discussions, the impact of global health crises, supply chain disruptions, competition, and regulatory risks related to data privacy and security. Additional risks include volatility in digital asset markets, potential vulnerabilities in custodial security, and evolving global and domestic regulatory frameworks applicable to blockchain technologies. These risks, along with other factors, are discussed in more detail in the Company’s filings with the U.S. Securities and Exchange Commission.
The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
CONTACT
Investor and media contact:
Investor Relations Team
Treasure Global
