Brief: Fox E-Mobility Says Investigated Delay For Payment Of Tranche Of EUR 2M By Yangji Investment

fox e-mobility AG

27/06/2023 17:36

June 27 (Reuters) - Fox E-Mobility AG  CT4.D :
    * INVESTIGATED DELAY FOR PAYMENT OF TRANCHE OF EUR 2M
(INITIALLY
EXPECTED FOR 31ST MAY 2023) BY YANGJI INVESTMENT PARTNERS LLC
    * COMPANY HAS LEARNED THAT DELAY HAD BEEN CAUSED BY KOREAN
REGULATORY PROCESS (FINANCIAL SUPERVISORY SERVICE, MONEY EXPORT
REGULATION)
    * INFORMED BOARD OF COMPANY THAT IT EXPECTS PAYMENT OF FIRST
TRANCHE OF EUR 2M TO BE COMPLETED BEFORE END OF Q2 2023
    * COMPANY'S CASH POSITION REMAINS STRAINED AND WILL BE
SIGNIFICANTLY STRENGTHENED BY YANGJI'S INVESTMENT
    * IN THESE CIRCUMSTANCES FINANCIAL REPORT 2022 WILL BE
PRESENTED
IN AUGUST 2023, BASED ON AVAILABILITY OF COMPANY'S AUDITOR

Source text for Eikon:  ID:nEQb6GxjNa 
Further company coverage:  CT4.D 

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