Commencement of Trading on OTCQX in the U.S.
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 5 hours ago Luceco
- 5 hours ago Helios Towers
- 6 hours ago Wise Class A
- 6 hours ago EDX Medical Group Plc
- 6 hours ago Naked Wines