RCS - Pinewood Tech Gp PLC - Commencement of Trading on OTCQX in the U.S.

Pinewood TechnologiesAnnouncement

25/02/2025 12:00

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RNS Number : 3819Y  Pinewood Technologies Group PLC  25 February 2025

FOR IMMEDIATE RELEASE

25 February 2025

 

Pinewood Technologies Group PLC

("Pinewood" or the "Company")

 

Commencement of Trading on OTCQX in the U.S.

 

Pinewood Technologies Group PLC, a leading pure-play cloud-based software
business providing innovative retail solutions to the automotive industry, is
pleased to announce that it has commenced trading on the OTCQX® Best Market
("OTCQX") in the U.S.

 

Trading on OTCQX will commence at the market open today (09:30am ET) under the
ticker symbol PINWF. U.S. investors can find current financial disclosure for
the Company on www.otcmarkets.com (http://www.otcmarkets.com) .

 

Pinewood's admission to the OTCQX market will provide transparent trading for
investors in the U.S., ensuring that they have access to the same level of
information and disclosure available to investors in the United Kingdom, but
through U.S.-facing platforms and portals.

 

The Company's ordinary shares will continue to trade on the main market of the
London Stock Exchange. No new ordinary shares will be issued as part of the
commencement of trading on OTCQX.

Bill Berman, Chief Executive Officer of Pinewood Technologies Group, said:

 

"We are thrilled to begin trading on the OTCQX Market, which offers investors
in the U.S. the opportunity to purchase shares in Pinewood Automotive
Intelligence™ more easily.  As the first fully integrated secure
cloud-based ecosystem operating in 21 countries and partnering with more than
50 manufacturers, Pinewood Automotive Intelligence™ is uniquely positioned
to offer real-time solutions to real world retail problems. The Pinewood
Automotive Intelligence™ platform gives dealers and OEMs alike the ability
to drive growth and unlock greater profits while operating securely in our
fully connected environment.

 

"With the global market for Dealer Management Software solutions fragmented,
the Pinewood Automotive Intelligence™ platform capitalizes on the universal
need for clarity between customer, dealer and manufacturer. Strengthened by
our partnership with Lithia, one of the largest automotive dealer groups in
the U.S., we believe Pinewood Automotive Intelligence™ is a compelling
investment proposition that will continue to deliver significant value for
shareholders."

 

Enquiries:

 

 Headland Consultancy (PR & Communications)      +44 (0) 20 3805 4822
 Henry Wallers
 Jack Gault

 

About Pinewood Technologies Group PLC

 

First established in 1981, Pinewood Technologies Group PLC (Pinewood) is a
leading cloud based full-service technology provider to automotive retailers
and OEMs. Pinewood's system is a market-leading automotive intelligence
platform, which has been developed collaboratively with dealers and OEMs to
provide secure cloud-based software across sales, aftersales, accounting and
CRM. Headquartered in the UK, Pinewood has a team of over 200 people serving
over 30,000 global users across 21 countries and long-standing partnerships
with over 50 OEM brands.

 

Previously part of Pendragon PLC, in 2024 Pinewood became an independent
entity following the sale of Pendragon's UK Motor and Leasing divisions to
Lithia Motors Inc, one of the largest automotive retailers in North America.
Pinewood simultaneously signed a strategic partnership with Lithia to roll out
its software across Lithia's UK locations and form a joint venture to
co-develop capabilities and accelerate Pinewood's entry into the North
American market.

 

About OTC Markets Group Inc.

 

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading
12,000 U.S. and international securities. Our data-driven disclosure standards
form the foundation of our three public markets: OTCQX® Best Market, OTCQB®
Venture Market and Pink® Open Market.

 

Our OTC Link® Alternative Trading Systems (ATSs) provide critical market
infrastructure that broker-dealers rely on to facilitate trading.  Our
innovative model offers companies more efficient access to the U.S. financial
markets.

 

OTC Link ATS, OTC Link ECN and OTC Link NQB are each SEC regulated ATS,
operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member
SIPC.

 

To learn more about how we create better informed and more efficient markets,
visit www.otcmarkets.com.

 

Important Notices

This announcement is not intended to, and does not constitute, or form part
of, any offer to sell or an invitation to purchase or subscribe for any
securities or a solicitation of any vote or approval in any jurisdiction.

This announcement has been prepared for the purpose of complying with the
applicable law and regulation of the United Kingdom and information disclosed
may not be the same as that which would have been disclosed if this
announcement has been prepared in accordance with the laws and regulations of
jurisdictions outside the United Kingdom.

 

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