Saietta Group raise £600,000 via Broker Option

Saietta Group plc (LON:SED), the international electric powertrain group, has announced that, further to the announcement of the proposed Placing on 3 August 2022, the Broker Option has been exercised in respect of 434,783 new Ordinary Shares, raising additional gross proceeds of £600,000 for the Company.

The Broker Option Shares will be issued at a price of 138 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.

With the exercise of the Broker Option and the admission of the Placing Shares to trading on AIM, this results in a total gross fundraise of £23.6 million for the Company; comprising the Placing raising £23 million (before expenses), and the Broker Option raising £600,000 (before expenses).

Admission and Total Voting Rights

Subject to shareholder approval, the Company will make an application to London Stock Exchange plc for an aggregate total of 17,101,450 new Ordinary Shares; comprising the 16,666,667 Placing Shares and 434,783 Broker Option Shares (together the “New Ordinary Shares”), to be admitted to trading on AIM (“Admission“). It is expected that Admission of the New Ordinary Shares will become effective and dealings will commence on Wednesday 24 August 2022.  The Placing Shares and Broker Option Shares will rank pari passu with the existing Ordinary Shares.

Following Admission of the New Ordinary Shares there will be 102,246,893 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 Company’s announcement of the proposed Placing on 3 August 2022.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

More articles like this

Saietta Group at IAA Transportation 2022

Saietta Group plc (LON:SED) is a multi-national business which designs, engineers and manufactures complete Light Duty and Heavy Duty electric drive (eDrive) systems for electric vehicles on land from scooters to buses (vehicle categories L, M, N and T)

Saietta Electric Drive

Saietta Group plc (LON:SED) is a multi-national business which designs, engineers and manufactures complete Light Duty and Heavy Duty electric drive (eDrive) systems for electric vehicles on land from scooters to buses (vehicle categories L, M, N and T)

TheMotion 2.0 LF and ULF

Saietta Group plc (LON:SED) is a multi-national business which designs, engineers and manufactures complete Light Duty and Heavy Duty electric drive (eDrive) systems for electric vehicles on land from scooters to buses (vehicle categories L, M, N and T)

Saietta Group AGM to be held on Friday 30th September

Saietta Group plc (LON:SED), the UK company which designs, engineers and manufactures complete powertrains for electric vehicles on land from scooters to buses and on sea, has announced that the Company’s 2022 annual general meeting is to be

Renault Twizy microcar powered by Saietta

Saietta Group plc (LON:SED) is a multi-national business which designs, engineers and manufactures complete Light Duty and Heavy Duty electric drive (eDrive) systems for electric vehicles on land from scooters to buses (vehicle categories L, M, N and T)

Hero Motorcycle powered by Saietta

Saietta Group plc (LON:SED) is a multi-national business which designs, engineers and manufactures complete Light Duty and Heavy Duty electric drive (eDrive) systems for electric vehicles on land from scooters to buses (vehicle categories L, M, N and T)

Commercial vehicles powered by Saietta

Saietta Group plc (LON:SED) is a multi-national business which designs, engineers and manufactures complete Light Duty and Heavy Duty electric drive (eDrive) systems for electric vehicles on land from scooters to buses (vehicle categories L, M, N and T)

Saietta accelerates transition to a provider of fully integrated e-drive systems

SAIETTA has expanded its product offering for the light-duty electric vehicle sector. The focus on innovative product developments that push engineering and technology boundaries is central to Saietta’s efforts in providing state-of-the-art fully integrated electric drive system solutions across the mobility space. Driven by customer demand and market growth, Saietta’s Axial Flux Technology (AFT) electric motor is now available with integrated power electronics,