Member Info for Feeks

It's a long time since I've looked in here. Please can someone tell me, is MASS (Maritime Autonomous Surface Ships) relevant to SRT's business?

Yes good news and a great start. I didn't think they would sell many of those!

Saietta did much the same recently - the share price halved!

https://*************.com/views/71548/tom-winnifrith-bearcast-is-verditek-going-bust-mr-market-thinks-so-and-so-do-i

I would think Tom Winnifrith is all over it already. He was raising question marks from maybe 3 or 4 years ago (I am not a subscriber to his site)

I warned of this eventuality quite a few times. It certainly does need a proper investigation into the RNS output and trading history.

Yes it certainly did too.

Worth highlighting the amount of cash Directors are putting in:

David Woolley, David Wilkinson, Emmanuel Clair and Devyani Vaishampayan, each a Director of the Company, have indicated they would be willing to participate in the Firm Subscription at the Issue Price to an aggregate value of approximately £350,000. A further announcement will be made in due course once such dealings have occurred.

The Conditional Fundraising is subject, amongst other things, to shareholder approval being obtained at a general meeting of the Company (the "General Meeting") expected to be held on 15 December 2023 in order to allow the issue of the Conditional Fundraising Shares on a non-pre-emptive basis.

•A further announcement will be made in the coming days on the publication of a shareholder circular, which will contain further details of the Fundraising and the Notice of General Meeting (the "Circular").

This Announcement should be read in its entirety. In particular, your attention is drawn to the detailed terms and conditions of the Fundraising in Appendix II to this Announcement. Further information relating to the Fundraising and use of proceeds is set out below.

By choosing to participate in the Fundraising and by making an oral and legally binding offer to acquire New Ordinary Shares, investors will be deemed to have read and understood this Announcement in its entirety (including the Appendices), and to be making such offer on the terms and subject to the conditions of the Fundraising contained herein, and to be providing the representations, warranties and acknowledgements contained in Appendix II.

Capitalised terms not otherwise defined in the text of this Announcement have the meaning given to them in the section headed "Definitions" in Appendix III below.

Director Participation

David Woolley, David Wilkinson, Emmanuel Clair and Devyani Vaishampayan, each a Director of the Company, have indicated they would be willing to participate in the Firm Subscription at the Issue Price to an aggregate value of approximately £350,000. A further announcement will be made in due course once such dealings have occurred.

Tony Gott, Executive Chairman of Saietta, commented:

"We are pleased to announce that we had support in this fundraising from across our investor base including Saietta board members, the founder of our JV partner in India, all of our largest existing institutional investors, new institutional investors and a number of our pre-IPO retail investors who have supported us for many years.

We suspect these investors all see what the Saietta Board sees - that we now have proven market demand for both of our families of eDrives from a mainstream lightweight vehicle manufacturer in our key target launch market of India, the factory is in place in Delhi and is manufacturing AFT eDrives and the supply chain is up and running.

There's a lot of work left to do to ramp up production in India and the UK but as a Board, we fervently believe that we have the right products with proven market pull, at the right time with the right people to drive this through. We look forward to seeing the first light commercial vehicles powered by Saietta on the roads in India in the first half of 2024 to help clean up the air in Indian megacities."

Proposed Placing, Subscription and Broker Option to raise a minimum of £6.4 million

Saietta Group plc (AIM: SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, is pleased to announce its intention to raise a minimum of £5.2 million by way of a placing (the "Placing"), and approximately £1.2 million via a subscription (the "Subscription") (together, the "Fundraising"), both at an issue price of 17 pence per share (the "Issue Price"). The Company has also issued a Broker Option to Canaccord Genuity Limited ("Canaccord Genuity"), pursuant to which up to an additional £1.0 million can be raised at the Issue Price until 4.45 p.m. on 12 December 2023.

The Fundraising is being conducted in two tranches. Approximately £1.7 million is proposed to be raised via the Firm Fundraising (comprising the Firm Placing and the Firm Subscription), which will utilise the Company's existing authorities to allot shares and disapply the pre-emption rights granted at its recent Annual General Meeting. A minimum of £4.7 million is proposed to be raised via the Conditional Fundraising (comprising the Conditional Placing, the Conditional Subscription and, to the extent it is exercised, the Broker Option), which will be subject, amongst other things, to the approval of Shareholders at a general meeting to be convened by the Company.

Highlights:

• Intention to raise a minimum of £6.4 million (before expenses) through a Placing, a Subscription and a Broker Option, in each case at a price of 17 pence per share.

•The Fundraising is expected to satisfy the Company's working capital requirements through to the end of March 2024, by which time the Company is expecting to have announced a number of major commercial developments, described more fully below.

•Net proceeds from the Fundraising will be used as follows:

o £3.5 million - General working capital

o £1.0 million - Saietta VNA, to be used for:

-Working capital; and

-Capital expenditure

o £1.5 million - Repayment of overdue creditors

• The Issue Price represents a discount of approximately 17 per cent. to the closing mid-market price of the Company's Ordinary Shares on Friday 24 November 2023, being the latest practicable date before this Announcement.

•The Placing is to be conducted by way of an accelerated bookbuild process (the "Bookbuild"), to commence immediately following this Announcement and will be subject to the terms and conditions set out in Appendix II to this Announcement.

•In addition, the Company has granted a Broker Option to Canaccord Genuity which will be available until 4:45 p.m. on 12 December 2023 and is subject to the terms and conditions set out in Appendix II to this Announcement.

• The Conditional Fundraising is subject, amongst other things, to shareholder approval being obtained at a general meeting of the Compan

Https://www.aafarmer.co.uk/agronomy/maize-seed-treatment-reprieve-confirmed.html

News which extends the life of existing chemical seed treatment ls ansld seems to scotch any short term hopes for the Ecovelex product.

Bye bye for now Delhi Boy

Care to share your insights please, laconic?

Nanogedden, the question probably answers itself. We must assume it's a relatively low margin but high target volume market (the RFT market certainly seems high volume). That won't help us to determine if the company is fairly priced though.

Https://www.voxmarkets.co.uk/articles/saietta-shares-jump-as-indian-joint-venture-wins-2nd-major-edrive-order-b9592f4/

And maybe vulnerable to a takeover with the financiers looking in?

OK, well I'll disappear again - good luck with your investment - I'd not want any to lose. But personally I think the wait is not worth it when cash deposits are currently paying 5% 6% . I was hugely disappointed with the litigation result, as everyone knows and I have no real trust in the Board after that. All thing considered I think that the timelines could be extremely long

I have long taken the view that 2027 was the very earliest that anything meaningful development revenue would arise on the new materials. I would have sold out on a good litigation result for that reason. In the end I sold out on a bad one as I see no reason to hold.

RNS sums up that with the Asian customer no commercial revenues expected for at least another two years then maybe 2026 or even 2027...God it's just so painfully slow with this firm like watching paint dry!

That's what I've been saying. The tech is not even close to being ready for commercialisation. Investing in Nanoco is like investing in a 0% cash balance bank account.

A coincidence you should mention that YosemiSam.

I had exactly the same thought whilst viewing the clips earlier today and then ended up rumnimg a google search on "non-verbal body language" clues! I was left feeling unconvinced.