REG - Saietta Group PLC - Issue of Equity

SaiettaAnnouncement

21/11/2023 15:45

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RNS Number : 1832U  Saietta Group PLC  21 November 2023

21 November 2023

Saietta Group Plc

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

 

Issue of equity

 

Saietta Group plc (AIM: SED), announces that it has today issued 97,187 new
ordinary shares of 0.11 pence each in the capital of the Company ("Ordinary
Shares") pursuant to the exercise of options by two former employees of the
Company.

 

An application has been made for the new Ordinary Shares to be admitted to
trading on AIM ("Admission"). Admission is expected to occur on 27 November
2023. Following Admission, the Company will have 103,014,862 Ordinary Shares
in issue and admitted to trading on AIM. This figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.

 

 

For any further enquiries, please contact:

 

 Saietta Group                              contact@saietta.com

 Tony Gott, Executive Chair

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

 Henry Fitzgerald-O'Connor / Harry Pardoe

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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