Nasdaq Baltic First North listed ELMO Rent AS major shareholder Lühirent OÜ,  sold 100,000 shares as an insider transaction to PAKRI Science and Industrial Park Ltd, which belongs to the same major shareholder, which invests them in a fund focusing on the production of green technologies. As a result of the transactions, in the future the fund will become a shareholder of the listed company, which will support the production phase and the expansion abroad of the remote control car technology.

“Remote control car technology is practically mature for the market, but production and technological development also require considerable capital. I am convinced that with the support of the PAKRI Science and Industry Park Green Fund, the launch phase of the new technology will be successful, and we’ll also have additional leverage to enter new markets,” said Julia Nekrassova, CEO of ELMO Rent.

“Already presenting the IPO plans, I said that ELMO Rent has great potential for promoting technology and is pleased that the green fund to be created also wants to look to future-oriented producers,” added Taavi Laur, Member of the Supervisory Board of ELMO Rent.

There will be no changes for ELMO Rent AS shareholders, as this is an over-the-counter transaction with one owner and no new shares or liabilities will arise for the company.

PAKRI Science and Industrial Park’s press release: https://pakri.ee/en/pakri-science-and-industry-park-is-launching-a-smart-green-investment-fund/

Direct link to ELMO Rent AS trading: https://nasdaqbaltic.com/statistics/en/instrument/EE3100075888/trading?date=2021-10-11