The Chairman of the Board sells shares due to over-lending of securities credit
Chairman of the Board Robert Wu through related companies Oboya Holding HK Ltd has previously held a securities credit with a credit institution. The securities loan that was issued was intended for subscription in a previous preferential mission.
PEN Concept Group AB applied for corporate restructuring on March 23, 2020 and as a result of the corporate restructuring, the credit institution conducted forced sales of the Chairman of the Board's PEN shares to adjust the over-lending of securities credit. The transactions took place without Robert Wu's consent, but only after the decision of the credit institution. The forced sale is completed and the over-payment is regulated.
Following the forced sale, Robert Wu's holdings through related companies amount to approximately 9 percent of the capital and voting share.
For any inquiry regarding this press release, kindly contact:
Robert Wu, Styrelseordförande, PEN Concept Group AB
Phone: 0735-630 935
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 24, 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.