from Fox E-mobility AG (isin : DE000A2NB551)
EQS-Adhoc: fox e-mobility AG: Update related to investment by Yangji Investment Partners LLC
EQS-Ad-hoc: fox e-mobility AG / Key word(s): Financing
fox e-mobility AG: Update related to investment by Yangji Investment Partners LLC
21-Jul-2023 / 15:49 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: Update related to investment by Yangji Investment Partners LLC
Munich, July 21, 2023. The Management Board of fox e-mobility AG (DE000A2NB551) announces that today Yangji Asset Management/Yangji Investment Co., Ltd (“Yangji”) have confirmed the following update:
- Yangji has instructed its bank to transfer the funds to fox e-mobility AG and the remitting bank is still waiting for a document from the Korean Financial Supervisory Service (FSS). The transfer will be executed as soon as the remitting bank obtains green light from FSS.
- Yangji has been informed by FSS that it has no additional questions or requests for further documentation and is preparing the paperwork.
It has become public knowledge that since June 2023 the FSS regulatory process in general is taking longer than expected because FSS and local banks have decided to prevent atypical foreign remittances by strengthening internal control and procedural codes to heighten the monitoring of such transactions.
https://www.koreatimes.co.kr/www/biz/2023/07/602_352498.html
The FSS Frankfurt office has confirmed that it is not even unusual for the process to take more than one month.
Contact:
ir@fox-em.com
End of Inside Information
21-Jul-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| 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: | 1685863 |
| End of Announcement | EQS News Service |
1685863 21-Jul-2023 CET/CEST