SED.L Regulatory News (SED)

04 August 2022

Saietta Group plc

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

Results of Placing

Directors' Dealings

Publication of Circular

Saietta (AIM: SED), the international electric powertrain group, is pleased to announce that, further to its announcement of 4.45p.m. on 3 August 2022, (the "Launch Announcement"), it has conditionally completed the Placing which is now closed. The Placing was oversubscribed.

Canaccord Genuity Limited ("Canaccord") acted as Nominated Adviser, Sole Bookrunner and Sole Broker in connection with the Placing and has conditionally placed 16,666,667 new Ordinary Shares of £0.0011 each in the capital of the Company raising gross proceeds of £23 million (before expenses) at an Issue Price of 138 pence per share.

Capitalised terms used but not defined in this announcement shall have the meaning given to them in the Launch Announcement.

Broker Option

In order to deal with any additional demand from shareholders and other investors who did not participate in the Placing, the Company has granted an option (the "Broker Option") to Canaccord to allow for the issue of up to an additional 1,666,667 new Ordinary Shares (the "Broker Option Shares") at the Issue Price. The Broker Option is exercisable until 4.45 p.m. on 17 August 2022. Investors who wish to register their interest in participating in the Broker Option Shares should instruct their stockbroker to speak with a Canaccord contact or email cg-ecm-uk@cgf.com.

Directors' Participation

Tony Gott, Emmanuel Clair, Wicher Kist and David Wilkinson, each of whom are Directors of the Company (the "Participating Directors"), have agreed to participate in the Placing for an aggregate of 217,390 Placing Shares at the Issue Price. On Admission, following the issue of the Placing Shares, which is subject to General Meeting approval, the interests of the Participating Directors in the Company's enlarged share capital will be as follows:

* Assuming take-up in full of the Broker Option

Related Party Transactions

 The issue of 1,449,276 Placing Shares to Amati Global Investors Limited ("Amati"), a substantial shareholder of the Company, constitutes a related party transaction under the AIM Rules. Immediately following Admission (and on the basis that the Broker Option is exercised in full) Amati will have an interest in10.6 per cent. of the issued share capital of the Company. To the extent that the Broker Option is not exercised, Amati will have an interest in 10.8 per cent. of the issued share capital of the Company. The Directors consider, having consulted with Canaccord, acting in its capacity as the Company's Nominated Adviser, that the terms of such placing are fair and reasonable insofar as the Company's shareholders are concerned.

Issue of options to Tony Gott

As set out in the Launch Announcement, as part of Tony Gott's move to Executive Chairman, it has been agreed that he will receive the following options over Ordinary Shares under the Saietta Group plc Long Term Incentive Plan ("LTIP"):

- An option over 500,000 Ordinary Shares vesting 25% at grant and then in equal instalments monthly over 2 years, with an exercise price per Ordinary Share of 25% above Issue Price and ordinarily exercisable following 31 March 2025;

- Options over 2,500,000 Ordinary Shares with an exercise price of £0.01 per Ordinary Share which will ordinarily vest over the period from the initial listing of the Company's Ordinary Shares on AIM at IPO to 31 March 2025 , (subject to performance conditions).

The LTIP was established at the time of the initial admission of the Company's Ordinary Shares to AIM in July 2021. Ordinary Shares issued pursuant to awards under the LTIP scheme will not exceed 10% of the Company's issued share capital from time to time. Further details of the LTIP are set out in the Company's admission document dated 30 June 2021.

Admission and Total Voting Rights

Subject to shareholder approval, the Company will make an application to London Stock Exchange plc for an aggregate of 16,666,667 Placing Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission of the Placing Shares will become effective and dealings will commence on 24 August 2022. The Placing Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, and assuming the Broker Option has not been exercised, there will be 101,812,110 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. If the Broker Option is exercised, the Company will release a further announcement advising shareholders of the revised aggregate number of Ordinary Shares which will be in issue at Admission and the total voting rights.

Publication of Circular

A circular, containing further details of the Placing and notice of the General Meeting to be held at 10:00 a.m. on 22 August 2022 to, inter alia, approve the resolutions required to implement the Placing, is expected to be published and despatched to Shareholders today, 4 August 2022 (the "Circular"). Following its publication, the Circular will be available on the Group's website at https://investors.saiettagroup.com/investors/documents-and-circulars/.

For any further enquiries, please contact:

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.