Majority owner Oboya Holding HK Ltd sells 6,250,000 shares in Pen Concept Group AB for personal financial reasons
Oboya Holding HK Ltd owner Robert Wu comments “In connection with the rights issue in Pen Concept Group AB, Oboya Holding HK Ltd took out a securities credit in order to enable subscription in Pen Concept Group's issue. My ownership in Pen Concept Group AB, through Oboya Holding HK Ltd, is one of my larger shareholdings and assets. Therefore, I choose to divest part of my shareholding partly to be able to repay the securities credit and partly to increase free float in the share. I would like to point out that this sale is purely for personal financial reasons. My view of Pen Concept Group AB remains unchanged, and I believe, just like before, strongly that Pen Concept Group AB will succeed and thus generate great shareholder value in the future. ”
For any inquiry regarding this press release, kindly contact:
Magnus Hjorth, CEO, PEN Concept Group AB
Phone: +46 706 335 106
Robert Wu, Styrelseordförande, PEN Concept Group AB
This information is insider information that PEN Concept Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on March 6, 2020.
PEN Concept Group in brief
PEN Concept Group AB, headquartered in Jönköping, Sweden, is a turnkey supplier of interior products and solutions for exhibitions, events, restaurants and showrooms. The group coordinates all required resources to offer customers both standard and customized interior solutions, including large scale productions. The Swedish operations is channelled through the subsidiaries PEN Interiör AB and PEN Products AB.
The PEN brand represents solid know-how and experience in design, engineering, production and installation services for exhibitions and restaurants. This complets with PEN Products AB, which covers a turnkey product range for restaurant businesses, including kitchen machinery, furniture and utensils.