By Ian Walker

 

Aston Martin Lagonda Global Holdings said Friday that Daniel Li, Geely's nominated shareholder representative, has been appointed as a nonexecutive director of the board as per the agreement between the two in May.

On May 18 the U.K. luxury-car maker said that Geely Automobile Holdings will invest around 234 million pounds ($299.4 million), becoming its third-largest shareholder, and that Geely had the right to appoint a nonexecutive director to the board.

Under the deal Geely bought 42 million Aston Martin shares from the Yew Tree consortium, taking its shareholding in the company to around 17% of its issued share capital.

Li is chief executive officer of Geely Holding Group.

Shares at 0732 GMT were up 8.80 pence, or 2.4%, at 381.0 pence.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

July 28, 2023 03:55 ET (07:55 GMT)

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