When GMTL insiders can sell

Guardian Metal Resources PLC · IPO prospectus filed 2026-03-23 · Not machine-readable

Scheduled lock-up expiry
not determinable

The prospectus does not contain a lock-up period this parser can resolve to a date, so there is no date to publish. An assumed 180 days would be a guess with a filing link next to it.

Where the share count comes from

The prospectus never prints the number of shares coming free, and nothing in it lets the figure be derived. That is why this deal carries no flow math.

Exceptions written into the lock-up (5)

Each of these is a route by which GMTL shares can move before the expiry. The 10b5-1 carve-out is the one worth reading twice: it lets insiders put a selling plan in place during the lock-up, so the first sales can be automatic and immediate rather than discretionary and later.

  • 10b5-1 plan
  • bona fide gift or charitable transfer
  • estate planning or family transfer
  • option exercise or RSU settlement
  • underwriter discretionary release
10b5-1 plan
…his prospectus; (ix) transfers of securities made in connection with a bona fide third-party tender offer, merger, consolidation or other similar transaction; (x) entry into any trading plan established pursuant to Rule 10b5-1 under the Exchange Act; (xi) transfers of securities by the lock-up signatory to its investment manager or advisor with discretionary authority over the lock-up signatory's investments; or (xii) transfers made with the prior written consent of BMO Capital Markets Corp. provided , however, that in the case of clause (i), (ii), (iii), (iv), (vi) or (xi) above, it will be a condition to such transfer or dispositi…
bona fide gift or charitable transfer
The restrictions above do not apply to the following, subject to certain limitations set forth in the lock-up agreements: (i) transfers of securities as a bona fide gift; (ii) transfers or dispositions of securities to any trust for the direct or indirect benefit of the lock-up signatory or any member of the immediate family of the lock-up signatory; (iii) transfers of securities to affiliates, limited partners, general partners, limited liability company members or shareholders; (iv) transfers of securities by will, other testamentary document or intestate succession…
estate planning or family transfer
…restrictions above do not apply to the following, subject to certain limitations set forth in the lock-up agreements: (i) transfers of securities as a bona fide gift; (ii) transfers or dispositions of securities to any trust for the direct or indirect benefit of the lock-up signatory or any member of the immediate family of the lock-up signatory; (iii) transfers of securities to affiliates, limited partners, general partners, limited liability company members or shareholders; (iv) transfers of securities by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a member of the im…
option exercise or RSU settlement
…168,728,216 ordinary shares outstanding as of March 12, 2026 and excludes: 4,089,027 ordinary shares issuable upon exercise of share warrants outstanding as of March 12, 2026; and 9,854,859 ordinary shares issuable upon exercise of options outstanding as of March 12, 2026. Unless otherwise indicated, all information in this prospectus assumes or gives effect to: no exercise of the outstanding options or warrants described above after March 12, 2026; and no exercise by the underwriters of their option to purchase up to 666,660 additional ADSs in this offering. 12 TABLE OF CONTENTS SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA We prep…
underwriter discretionary release
…lock-up agreements entered into by our directors and officers and certain of our shareholders described in "Ordinary Shares and ADSs Eligible for Future Sale" and "Underwriters." The representatives of the underwriters may, in their sole discretion, release all or any portion of the equity securities subject to the lock-up agreements prior to the expiration of the lock-up agreements. If, after the end of such lock-up agreements, these shareholders sell substantial amounts of ADSs in the public market, or the market perceives that such sales may occur, the market price of our ADSs and our ability to raise capital through an issue of equity securities in the future could be adversely affected.

What we could not establish

GMTL is read but not publishable: no machine-readable lock-up period in the prospectus. So there is no absorb-day figure on this page and no call, and there will not be one until the number exists in a filing.

The common case is a prospectus that says "substantially all" of the locked shares become eligible for sale without ever printing a count. The clause above is quoted in full so you can see that for yourself. An estimate presented with a filing link beside it would read as a filing figure, and that is worse than an admission — it is the one failure mode a reader cannot detect.

How this reading of GMTL could be wrong

The structure is not machine-readable. The clause was found but its shape — single cliff, earlier-of, staged — could not be classified, so no structural claim is made about it on this page.

The volume is a vendor's, not ours. GMTL is not in our own price table, so average daily volume comes from yahoo-finance2 daily bars (symbol not in our price table). Vendor bars for recently listed symbols are the ones most likely to be wrong.

Only 20 sessions of volume history. This is a recent IPO, and early volume is dominated by the offering itself. An average over 20 sessions of a stock that has barely traded is the weakest input on the page, and absorb days inherits every bit of that weakness.

The parser can misread a filing. That is why every number here is printed next to the words it came from. Earlier versions of this parser read the underwriters' 30-day over-allotment window as a 30-day lock-up on five deals, and double-counted one issuer's share total because the offering summary appears on both the cover and in the summary section.

Learn to read these clauses yourself

The flow arithmetic on this page — shares unlocking divided by average daily volume, and why the clause has to be read rather than assumed — taught step by step, free.

Lesson 6 →

Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · GMTL's prospectus on EDGAR · what funds carried these companies at before listing