15 Dec 2023 13:34
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 27th November 2023.
For any further enquiries, please contact:
Saietta Group Tony Gott, Executive Chair David Woolley, Chief Executive Officer | contact@saietta.com |
Canaccord Genuity (Nomad and Broker) Henry Fitzgerald-O'Connor / Harry Pardoe | 0207 523 8000 |
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.