EQS-Adhoc: fox e-mobility AG: Update related to investment by Yangji Investment Partners LLC

fox e-mobility AG: Update related to investment by Yangji Investment Partners LLC

Düsseldorf, November 20th, 2023. fox e-mobility AG has not yet received funds from Yangji Investment Partners LLC (see ad hoc news dated 30 October 2023).

Today, Yangji has informed the management by email that the delay in transfer of funds is due to the fact that the regulator is unexpectedly still “dragging its feet” in relation to the processing of all necessary approvals for overseas investments.

However, Yangji also confirmed:

• that the delay is not due to financial conditions of Yangji group.
• that the transfer execution dates of the Korean bank are now scheduled on 22.11. and 30.11. respectively.

This additional delay will automatically lead to a postponement in the publication of the company's 2022 accounts, which was scheduled for the end of December 2023 (see ad hoc news dated 02 November 2023).

The financial calendar will need to be updated again as soon as the funds have reached fox e-mobility.

Contact:
ir@fox-em.com