Headline: Pinewood Seals 5-Year Agreement with Marshall Motor Group, Shares Soar

LONDON - Pinewood Technologies Group PLC, a SaaS provider specializing in retail solutions for the automotive industry, has signed a five-year contract with one of the UK's leading automotive retailers, Marshall Motor Group. This agreement marks a significant step in Pinewood's expansion within the UK's automotive retail market.

Following the news, Pinewood shares rose by 13%.

Marshall Motor Group, which operates approximately 120 dealerships across the UK and is part of the Constellation Automotive Group, has chosen to implement Pinewood's product suite in its stores. This move follows the successful integration of Pinewood systems into the UK operations of Lithia Motors, including the former Jardine Motor Group and Pendragon.

Pinewood CEO Bill Berman expressed his confidence in the company's market position as a leading automotive retail ecosystem provider, emphasizing that the contract with Marshall is a strong endorsement of their product suite. Berman also outlined expectations for continued integration with Lithia Motors' UK dealerships and anticipated new customer acquisitions in the coming months.

Constellation Automotive Group's CEO Avril Palmer-Baunack commented on the potential of the partnership to enhance customer service and system integration, showcasing a forward-thinking approach to strategic partnerships.

This new business relationship is considered inside information under Article 7 of Regulation (EU) No 596/2014 included in UK law. The person responsible for regulating this announcement is Pinewood Technologies Group's CFO, Oliver Mann.

The partnership between Pinewood and Marshall Motor Group is seen as a strategic move for both organizations, aimed at improving operational efficiency and customer service in the automotive retail sector. According to the press release, this collaboration is expected to commence in the coming months.