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.
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.
