REG - DG Innovate PLC - Result of AGM

DG InnovateAnnouncement

19/07/2023 15:15

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RNS Number : 5586G  DG Innovate PLC  19 July 2023

19 July 2023

DG Innovate plc

("DG Innovate" or the "Company")

Result of AGM,

Update on Placing and Capital Reorganisation

and

Total Voting Rights

 

 

DG Innovate (LSE: DGI), the advanced research and development company
pioneering sustainable and environmentally considerate improvements to
electric mobility and energy storage, announces the results of voting on the
Resolutions put to its Annual General Meeting ("AGM") held earlier today. All
Resolutions put to Shareholders at the meeting were duly passed on a show of
hands.

The proxy votes received in respect of the resolutions at the AGM were as
follows:

                                                                                  For            %      Against      %     Withheld

 RESOLUTIONS
 Ordinary Resolutions
 1. To receive the Company's annual accounts for the year ended 31 December       3,402,762,208  99.55  15,523,158   0.45  800
 2022
 2. To approve the reappointment of Moore Kingston Smith LLP as auditors and      3,377,781,278  98.82  40,504,088   1.18  800
 the Directors to fix their remuneration
 3. To approve the Directors' remuneration report                                 3,677,460,644  98.81  40,524,622   1.19  900
 4. To approve the Directors' remuneration policy                                 3,677,460,644  98.81  40,524,622   1.19  900
 5. To re-elect Nicholas Tulloch as a director                                    3,377,761,141  99.54  15,524,255   0.46  25,000,800
 6. To re-elect Peter Tierney as a director                                       3,377,782,569  98.82  40,502,797   1.18  800
 7. To re-elect John Allardyce as a director                                      3,377,782,569  98.82  40,502,797   1.18  800
 8. To re-elect Martin Boughtwood as a director                                   3,402,782,569  99.55  15,502,797   0.45  800
 9.  To re-elect Patrick Symonds as a director                                    3,402,782,569  99.55  15,502,797   0.45  800
 10. To re-elect Trevor Gabriel as a director                                     3,302,199,054  96.60  116,086,312  3.40  800
 11. That the existing ordinary shares be subdivided and converted into one new   3,377,781,845  99.54  15,503,521   0.46  25,000,800
 ordinary share and one Deferred Share
 12. That the Directors be authorised to allot shares and grant rights to         3,377,760,350  99.54  15,525,016   0.46  25,000,800
 subscribe for, or convert any security into, shares up to an aggregate nominal
 amount of £4,000,000
 Special Resolutions
 13. That the Directors be authorised to allot equity securities as if section    3,377,760,350  99.54  15,525,016   0.46  25,000,800
 561 of the Companies Act 2006 did not apply in connection with: (i) an offer
 of equity securities to the holders of ordinary shares in proportion to their
 respective holdings; and (ii) the allotment of equity securities up to an
 aggregate nominal amount of £2,000,000
 14. That the Directors be authorised to allot equity securities as if section    3,377,760,350  99.54  15,525,016   0.46  25,000,800
 561 of the Companies Act 2006 did not apply provided that such authority shall
 be limited to the allotment of equity securities up to an aggregate nominal
 amount of £2,000,000 for the purpose of Fnancing an acquisition or other
 capital investment
 15. To approve the amendment of the Articles of Association of the Company by    3,402,781,278  99.55  15,504,088   0.45  800
 inserting the new article entitled 'Deferred Shares'

 

Accordingly, the Company is pleased to confirm that as a result of obtaining
Shareholder approval for the Placing and Capital Reorganisation, the Placing
has raised total gross proceeds of approximately £517,000.

Following the passing of the resolutions at the AGM, the Capital
Reorganisation by which each of the Company's each of the Existing Ordinary
Shares is being subdivided into one new ordinary share of 0.01 pence each in
the capital of the Company ("New Ordinary Shares") and one deferred share of
0.09 pence each in the capital ("Deferred Shares") of the Company is being
effected. The New Ordinary Shares are expected to be admitted to the Official
List of the FCA and to trading on the Main Market of the London Stock Exchange
("Admission") at 8.00 a.m. on 20 July 2023.

Additionally, the Company has applied for Admission for the 1,034,000,000
Placing Shares. It is expected that Admission of the Placing Shares will
become effective and that unconditional dealings will commence on the Main
Market of London Stock Exchange at 8.00 a.m. on 21 July 2023.

Total Voting Rights

Following the Capital Reorganisation becoming effective and upon Admission of
the Placing Shares and, the total number of ordinary shares of 0.01 pence in
issue will be 10,242,548,440. The Company has previously disclosed that it
holds no shares in treasury. The Company corrects this previous disclosure to
reflect that the Company holds 357,142 shares in treasury.  Therefore the
number of voting rights will be 10,242,191,298.

From Admission, the above voting rights figure may be used by Shareholders as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
ordinary share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

Capitalised terms not otherwise defined in this announcement have the same
meaning as ascribed to them in the circular to Shareholders dated 22 June 2023
and available on the Company's website at https://www.dgiplc.com/agm
(https://www.dgiplc.com/agm) .

 

For further information please contact:

 DG Innovate plc                                   C/O IFC
 Peter Tierney, CEO

 Jack Allardyce, CFO

 IFC Advisory (Financial PR & IR)                  020 3934 6630
 Tim Metcalfe

 Zach Cohen

 Grant Thornton UK LLP (Financial Adviser)         020 7383 5100

 Samantha Harrison                                  

 Jamie Barklem

 Ciara Donnelly

 Peterhouse (Joint Broker)                         020 7469 0930
 Rose Greensmith

 Duncan Vasey

 Lucy Williams

                        WH Ireland (Joint Broker)  020 7220 1666
                        Chris Hardie

 

About DG Innovate

 

DG Innovate is an advanced research and development company pioneering
sustainable and environmentally considerate improvements to electric mobility
and storage, using abundant materials and the best engineering and scientific
practices. DG Innovate is currently developing its products alongside a number
of major manufacturers across the transportation and energy sectors, research
institutions and the UK Government, and has filed 18 patents worldwide. DG
Innovate's current research and development activities are broadly split into
two areas, focusing on novel electric motor technologies and energy storage
solutions. Its two main products are:

 

- Enhanced Drive Technology (EDT) - High efficiency, cost-effective electric
motors + power electronics; and

- Enhanced Battery Technology (EBT) - Sodium-ion batteries offering a
sustainable energy storage solution at similar/greater energy density to
incumbent technologies at a lower cost, increased safety with lower
environmental footprint.

 

Further information may be found at: https://www.dgiplc.com
(https://www.dgiplc.com/)

 

 

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