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fox e-mobility AG
ISIN: DE000A2NB551
WKN: A2NB55
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fox e-mobility AG · ISIN: DE000A2NB551 · EQS - adhoc news (70 News)
Country: Germany · Primary market: Germany · EQS NID: 1667119
27 June 2023 06:33PM

fox e-mobility AG:  Yangji confirms payment commitment – delay caused by Korean regulatory process


EQS-Ad-hoc: fox e-mobility AG / Key word(s): Financing
fox e-mobility AG: Yangji confirms payment commitment – delay caused by Korean regulatory process

27-Jun-2023 / 18:33 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


fox e-mobility AG: Yangji confirms payment commitment – delay caused by Korean regulatory process

 

Munich, June 27, 2023. The Management Board of fox e-mobility AG (DE000A2NB551) announces that it has investigated the delay for the payment of the tranche of EUR 2m (initially expected for 31st May 2023) by Yangji Investment Partners LLC.

Yangji Investment Partners LLC (Delaware) is part of the Yangji Investment Group in Korea, which provides the investment funds through its venture capital and private equity firm Yangji Investment Co., Ltd., Seoul, South Korea.

On the basis of the information received by the company and through mutual discussion between the management of fox e-mobility and Yangji, the company has learned that the delay had been caused by the Korean regulatory process (Financial Supervisory Service, money export regulation).

Yangji has today informed the board of the company that it expects the payment of the first tranche of EUR 2m to be completed before the end of the second quarter 2023 (ending 30th June).

In these circumstances

  • the financial report 2022 will be presented in August 2023, based on the availability of the company’s auditor;
  • the company’s cash position remains strained and will be significantly strengthened by Yangji‘s investment.

 

Contact:

ir@fox-em.com



End of Inside Information

27-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: fox e-mobility AG
Herzogspitalstraße 24
80331 München
Germany
Internet: www.fox-em.com
ISIN: DE000A2NB551
WKN: A2NB55
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg
EQS News ID: 1667119

 
End of Announcement EQS News Service

1667119  27-Jun-2023 CET/CEST

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+49 (0) 89 444 430-000

 

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