REG - Saietta Group PLC - Directorate Change

SaiettaAnnouncement

06/10/2023 14:00

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RNS Number : 0226P  Saietta Group PLC  06 October 2023

 

6 October 2023

Saietta Group Plc

("Saietta", the "Company" or the "Group")

 Directorate Change

 

Saietta Group plc (AIM: SED), the multi-national business which designs,
engineers and manufactures complete electric drivetrain (eDrive) solutions for
electric vehicles, announces that it has received notice from the Company's
Chief Financial Officer, Steven Harrison, of his intention to resign as an
officer and director of the Company for personal reasons.

 

It has been agreed that Mr Harrison will remain as a statutory director of the
Company until such time as the annual accounts for the financial year ended 31
March 2023 have been finalised and signed off by the Board. The accounts are
expected to be finalised and announced in the coming days.

 

While terms are to yet to be agreed, it is expected that Mr Harrison will
remain in his role as Chief Financial Officer for a period of time to assist
the Company with a smooth transition of responsibilities to his replacement
following a thorough handover process. The Board is initiating a search for a
new CFO and the Company will announce details of such appointment and Mr
Harrison's departure date in due course.

 

Tony Gott, Executive Chairman of Saietta, said:

 

"On behalf of the Board I would like to thank Steve for his contributions to
the Company, particularly during the Company's successful IPO on the AIM
market and in its transition from a development company to one which is now
approaching significant commercial scale up."

Ends

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").

 

For any further enquiries, please contact:

 

 Saietta Group                              via FTI

 Tony Gott, Executive Chair

 David Woolley, Chief Executive Officer
 Canaccord Genuity (Nomad and Broker)       0207 523 8000

 Henry Fitzgerald-O'Connor / Harry Pardoe
 FTI Consulting (Financial PR advisor)      Tel: +44 (0) 20 3727 1000

 Ben Brewerton / Dhruv Soni                 saietta@fticonsulting.com

 

 

 

 

 

-Ends-

About Saietta Group plc

Listed on the London Stock Exchange's AIM, Saietta is a global business that
designs, develops and manufactures complete electric drivetrain (eDrive)
solutions for established manufacturers of a broad range of electric
vehicles.

Saietta's breakthrough proprietary technologies include AFT (Axial Flux
Technology) and RFT (Radial Flux Technology) motors, power electronics,
powertrain controls, mechanical axles, transmissions and vehicle control
units. Considerable flexibility is built into the core design, meaning
solutions can be quickly and cost effectively tailored to a specific
application.

Saietta works in a highly collaborative way with clients, driven by the belief
that partnership is key to delivering world-class tailored solutions at pace.
Saietta's engineering team takes time to deeply understand a client's brand,
target market sector, competition and the services they require. Then Saietta
develops a bespoke suite of products and services to fast-track the client to
production with eDrive solutions which deliver a sustainable competitive
advantage.

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