MotorK Completes Sale of Remaining 20% Stake in AutoXY SpA to GEDI Digital Srl

LONDON--(BUSINESS WIRE)--Regulatory News:

MotorK PLC (AMS: MTRK) ("MotorK", the "Group" or the "Company"), a leading SaaS provider to the automotive retail industry in the EMEA region, announced today the sale of its remaining 20% stake in Auto XY SpA to GEDI Digital Srl for a total consideration of €3.5 million.

This transaction marks the final step in the divestment of the DriveK business unit, initiated in December 2022. With its completion, MotorK has successfully finalised its strategic repositioning, further consolidating its focus on the B2B market, and reinforcing its balance sheet. The proceeds will be allocated to support the Group’s growth initiatives and drive further innovation in its SaaS solutions for the automotive retail industry.

Next Publication

The Company’s 2024 Annual Report, scheduled for release on 11 April 2025, will now be published on 16 April 2025. This adjustment allows for the completion of final reporting processes, ensuring the highest standards of accuracy and transparency in financial disclosures.

MotorK remains committed to keeping investors and stakeholders informed and appreciates their understanding.

Forward-looking information and disclaimer
This press release may include forward-looking statements. Other than reported financial results and historical information, all statements included in this press release, including, without limitation, those regarding our financial position, business strategy and management plans and objectives for future operations, may be deemed to be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “anticipates”, “estimates”, “projects”, “will”, “may”, “would”, “could” or “should”, or words or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are based on our current expectations, projections and key assumptions about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond MotorK’s ability to control or estimate precisely, such as future market conditions, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are subject to change without notice. Other than as required by applicable law or the applicable rules of any exchange on which our securities may be traded, we expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise.

Important information
This press release contains information within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014).

ABOUT MOTORK PLC

MotorK (AMS: MTRK) is a leading software as a service (“SaaS”) provider for the automotive retail industry in the EMEA region, with approximately 400 employees and ten offices in seven countries (Italy, Spain, France, Germany, Belgium, the UK, and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the automotive digital sales and marketing industry in Europe. MotorK is a company registered in England and Wales. Registered office: 5th Floor One New Change, London, England, EC4M 9AF - Company Registration: 9259000. For more information: www.motork.io or investors.motork.io.