Update on directed issue to TUS Holding and announcement that the board of PEN will call an extra general meeting to decide on the implementation of preferential rights issue

TUS Holding has informed the Board of PEN Concept Group AB that they do not receive permission from the relevant authorities to carry out the planned issue in PEN Concept Group AB within the time previously announced. The reason is the current political situation and current uncertainty.

The Board of PEN Concept Group AB will convene an extraordinary general meeting to carry out a preferential issue of SEK 6 million, of which the principal owner Robert Wu will guarantee 50% of the issue

For any inquiry regarding this press release, kindly contact:

Robert Wu, styrelseordförande, PEN Concept Group AB
Telefon: 0735-630 935, +86 159 6983 5999

Magnus Hjorth, CEO, PEN Concept Group AB
E-mail: magnus.hjorth@pen.se 
Phone: +46 706 335 106

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 June 20, 2019.

PEN Concept Group in brief
PEN Concept Group AB, headquartered in Jönköping, Sweden, is a turnkey supplier of interior products and solutions for shops, 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, PEN Shop Concept AB and Goods Sweden AB. The group also has a production and distribution facility, PEN Nordic Concept (Qingdao) Co., Ltd. in China.

The PEN brand represents solid know-how and experience in design, engineering, production and installation services for exhibitions, restaurants and retail customers. GOODS Sweden AB, through the brand PEN Products, covers a turnkey product range for restaurant businesses, including kitchen machinery, furniture and utensils.