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Suspect we'll see this holding pattern continue for a few days yet, once the broker option has closed next Wed then the source of cheap shares will be gone. Have added a few more as I think this will rally strongly once it's broken the current deadlock at 145p.
"In addition, the Company has granted a Broker Option which will be available until 4:45 p.m. on 17 August 2022 and is subject to the terms and conditions set out in Appendix I to this Announcement."
Saietta Group Key Achievements Since IPO
Acquired a commercial vehicle e-drive business for a €2m (with 2.6m in service kilometres)
Secured a valuable in-house power electronics capability allowing the group to offer integrated edrives as opposed to stand alone motors
Developed an award-winning fully integrated marine edrive system and generated €1.5m revenue in the first year
Took over factory from ZF that had already made 25 million electric motors for automotive OEMs and for
£1.1m acquired production lines and equipment that had an estimated original cost of £23 million
Secured an up to €10m revenue commitment from a major US Tier 1 supplier for US market entry on a product partnership.
Financials
Increased group income from £0.9m to £4.3m (including £0.7m worth of grants)
Delivered on (slightly ahead of) market expectations and the Saietta’ Board remains confident that the Group
remains on track to reach its revenue expectations for the financial year 2023
Saietta is aiming to continue to grow into one of the world's leading e-drive businesses and be a showcase of
engineering and production excellence June 2022 - £2 million grant from the UK Government’s Automotive Transformation Fund.
Commercial Traction.
Initial contract wins for prototype integrated AFT140 based e-drive systems from four Lightduty vehicle manufacturers around the world: Ayro Inc (USA), Electric Assisted Vehicles
Limited (UK), an established OEM of Light-duty vehicles in India, and a new European vehicle
platform developer.
Additionally, having secured key JV with: Padmini VNA
The Company is working on proof-of-concept e-drive system designs for two further potential
high volume Light-duty commercial vehicle customers (based in India).
Going Forward
Although at prototype stage, and with further milestones to be met, the Directors believe that
collectively these activities have the potential to develop into volumes in excess of 87,000
integrated AFT140 e-drive systems per annum.