DG Innovate to raise £500,000 to support EVage JV

DG Innovate plc (LON:DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, has announced its intention to conduct a conditional fundraising to raise gross proceeds of approximately £500,000 by means of a placing of new ordinary shares in the capital of the Company to certain institutional investors at a price of 0.08 pence per Ordinary Share.

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

A further announcement confirming the closing of the Bookbuild and the number of Placing Shares to be issued pursuant to the Placing is expected to be made in due course.

Placing Highlights

·           Placing to raise approximately £500,000 (before expenses) through the issue of approximately 625,000,000 Placing Shares at the Issue Price.

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