Resumption of trading – No challenge to capital resolutions – Legal remedy against the opening of bankruptcy proceedings at the Swiss subsidiary -

Resumption of trading – No challenge to capital resolutions – Legal remedy against the opening of bankruptcy proceedings at the Swiss subsidiary 

The Management Board of the Düsseldorf Stock Exchange today lifted the trading suspension of shares of fox e-mobility AG (ISIN: DE000A3EX222) imposed on February 3, 2025.

The resolutions regarding the capital reduction and the necessary capital increases passed at the company's Annual General Meeting on January 31, 2025, have not been challenged. The statutory period for contesting the capital measures has expired. The detailed plan for the implementation of the capital measures required for the company's going concern will be announced by the management by April 14, 2025.

The company, directly and indirectly through its subsidiary Fox Automotive Switzerland AG i.L. ("Fox Switzerland"), currently holds a total of 1,961,150 treasury shares.

The suspension of trading and the objections declared at the Annual General Meeting on January 31, 2025, called into question the validity of the company's letter of comfort to Fox Switzerland and prompted the Cantonal Court to declare the subsidiary bankrupt on February 19, 2025, in provisional debt restructuring proceedings. The Board of Directors has appealed to the Higher Court. In an interim decision, the Higher Court temporarily prohibited the enforcement of the bankruptcy proceedings by the Bankruptcy Office until decision on the entire appeal in April. Thus, the patents, trademarks, design rights, and other intellectual property remain with Fox Switzerland for the time being.