fox e-mobility AG: Delay in Yangji’s payment and further postponement of publication of 2022 financial statements

fox e-mobility AG:
Delay in Yangji’s payment and further postponement of publication of 2022 financial statements

Munich, May 31, 2023. The Management Board of fox e-mobility AG (DE000A2NB551), announces that the payment of the tranches of EUR 2m by YANGJI Investment Partners LLC expected by the end of May (see ad-hoc announcement of April 21, 2023) has not been received by today.

The company is currently investigating the reasons for this delay and will inform the market as soon as more details will be available. Because of this unexpected delay:

• The presentation of the audited annual financial report 2022 planned for May 2023 needs to be postponed again. A precise timing of this publication, as well as the publication of voluntary consolidated financial statements, change of registered shares into bearer shares, and the date of the Annual General Meeting will be announced subsequent to the result of the investigation of the delay.
• The company's cash position is strained and some payments to suppliers have to be delayed. However, the largest shareholders are actively supporting the management to overcome this liquidity issue.

Contact:
ir@fox-em.com