February 12, 2024
Hedin Mobility Group divests its holding in Pendragon PLC
During the period November 2023 to February 2024, Hedin Mobility Group has divested its entire holding in the listed company Pendragon PLC ("Pendragon").
Hedin Mobility Group AB (publ) (“the “Company”) has divested the equivalent of 385 million shares in Pendragon, of which 132 million were sold during the fourth quarter of 2023.
The shares have been sold at a volume weighted average price of GBP 0.335 per share. The net proceeds from the divestments amounted in total to SEK 1,690 million. The anticipated result from the sales amount to SEK 290 million in the fourth quarter 2023 and an additional SEK 90 million in the first quarter 2024. The anticipated total result during the holding period, including reported profit from associated companies, amounts to approximately SEK 700 million.
Following the divestment, the anticipated extraordinary dividend from Pendragon, communicated in the Company’s interim report for the period January to September 2023, will not be received by the Company.
Contact
Per Mårtensson
CFO, Hedin Mobility Group
031-790 04 81
ir@hedinmobilitygroup.com