rgupta
Regular
You have your own interpretation. Cannot see any fact from your interpretation.The company made sure that whoever received the new shares agreed not to sell them in a way that would break the Corporations Act within the first 12 months.
Basically, the shares can’t just be dumped on the market right away unless they comply with the law (usually meaning they can’t be sold at all without a special disclosure or exception).
After 12 months, they can be sold freely (unless new restrictions are added).
Dyor