All Offer Shares are existing shares, and no new capital is being raised by ALEC itself. ICD retains majority stake post-IPOPost-offering, ICD will retain an 80 per cent stake in ALEC, assuming no increase in the offer size. Eligible employees offering (Third tranche)Reserved for 1 per cent of Offer Shares, this tranche is available to eligible employees of both ALEC and ICD. Lock-up periods and stabilisation mechanismThe IPO is governed by an Underwriting Agreement signed between ALEC, ICD, and the Joint Bookrunners. To further support post-listing price stability, xCube LLC has been appointed by the Selling Shareholder to conduct stabilisation transactions on up to 100 million Offer Shares, if market conditions require.