REG - Saietta Group PLC - Results of General Meeting and Broker Option

SaiettaAnnouncement

15/12/2023 13:45

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RNS Number : 0286X  Saietta Group PLC  15 December 2023

15 December 2023

 

Saietta Group plc

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

 

Results of General Meeting and Broker Option

 

Saietta (AIM: SED), the multi-national business which designs, engineers and
manufactures complete electric drivetrain (eDrive) solutions for electric
vehicles announces that, at the General Meeting held earlier today, the
resolution set out in the Notice of General Meeting (the "Resolution")
contained in the circular published by the Company on 28 November 2023 was
duly passed without amendment. The full text of the Resolution is available at
the Company's website at
https://www.saietta.com/investors/reports-presentations/.

 

Furthermore, the Company announces that Canaccord Genuity has elected to
exercise the Broker Option. Under the Broker Option the Company will issue a
further 2,595,904 Broker Option Shares raising an additional £441,303 for the
Company.

 

The Broker Option Shares will be issued at a price of 17 pence per new
Ordinary Share (being the Issue Price) and on the same terms and conditions as
the issue of the Placing Shares pursuant to the Placing.

 

Application has been made to London Stock Exchange for an aggregate total of
32,050,932 new Ordinary Shares; comprising the 4,852,941 Conditional
Subscription Shares, 24,602,087 Conditional Placing Shares and 2,595,904
Broker Option Shares to be admitted to trading on AIM. It is expected that
Admission will become effective and dealings in the Conditional Subscription
Shares, Conditional Placing Shares and Broker Option Shares will commence on
Tuesday 19 December 2023.

 

Following Admission of the New Ordinary Shares there will be 145,260,370
Ordinary Shares in issue. This number may be used by shareholders as the
denominator for the calculation 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.

 

Capitalised terms used but not defined in this announcement shall have the
meaning given to them in the Launch Announcement of 27(th) November 2023.

 

 

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:

 

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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