Results of General Meeting
22/08/2022 14:06
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RNS Number : 8115W Saietta Group PLC 22 August 2022
22 August 2022
Saietta Group plc
("Saietta" or "the Company" or "the Group")
Results of General Meeting
Saietta (AIM: SED), the international electric powertrain group, 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 4 August 2022 was duly passed without amendment.
The full text of the Resolution is set out in the Notice of General Meeting.
All conditions of the Placing, except for Admission, set out in the Company's
announcement on 03 August 2022, have now been met. Application has been made
to the London Stock Exchange for an aggregate total of 17,101,450 new Ordinary
Shares; comprising the 16,666,667 Placing Shares and 434,783 Broker Option
Shares to be admitted to trading on AIM. It is expected that Admission will
become effective and dealings in the Placing Shares and Broker Option Shares
will commence at 8.00 a.m. on Wednesday 24 August 2022.
Following Admission of the New Ordinary Shares there will be 102,246,893
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.
For any further enquiries, please contact:
Saietta Group plc via FTI
Wicher (Vic) Kist, Group Chief Executive Officer
Steven Harrison, Group Chief Financial Officer
Canaccord Genuity (Nomad and Broker) 0207 523 8000
Henry Fitzgerald-O'Connor
Sam Lucas
Patrick Dolaghan
FTI Consulting (Financial PR advisor) Tel: +44 (0) 20 3727 1000
Ben Brewerton saietta@fticonsulting.com
Dhruv Soni
About Saietta:
Saietta is an AIM-quoted, multi-national business which designs, engineers and
manufactures complete Light-duty and Heavy-duty e-drive systems for electric
vehicles on land from scooters to buses (Vehicle categories L, M, N and T) as
well as marine applications (www.saietta.com).
Saietta has engineered breakthrough electric motor technology including
proprietary AFT (Axial Flux Technology) and RFT (Radial Flux Technology) which
can be combined with in-house power electronics, powertrain controls,
mechanical axles and transmissions. The designs are unique and modular,
delivering both high and low voltage electric drive solutions. Saietta's
difference lies in its ability to conceive powertrain solutions tailored to
deliver competitive advantage and its turnkey engineering services designed to
fast-track electric vehicle manufacturers from concept to start of production.
To demonstrate the outstanding attributes of the AFT technology and the
company also founded its own next-generation marine propulsion division Propel
(www.propel.me) which delivers solutions for boating in the electric era that
support the transition to decarbonization and clean mobility on waterways.
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