Additional Allotment and New Issue

RNS Number : 6152Q

Saietta Group PLC

21 February 2023

 

21 February 2023

Saietta Group plc

("Saietta" of "the Company")

Additional Allotment and New Issue

Saietta Group plc (AIM: SED), the multi-national business which designs, engineers and manufactures complete Light-duty and Heavy-duty e-drive systems for electric vehicle, announces that it has applied to the AIM market of the London Stock Exchange for an additional listing of 85,528 fully paid-up ordinary shares of £0.0011 each in the Group ("Ordinary Shares") to satisfy the exercise of certain options granted under the Group's SMTB approved plan .

Admission of these shares is expected to occur on 27 February 2023 following which the total number of shares in issue and total voting rights will be 102,917,675. The Group does not hold any shares in treasury and, therefore, the above figure 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 to their interest in the Company.

For any further enquiries, please contact:

Saietta Group Wicher (Vic) Kist, Group Chief Executive Officer Steven Harrison, Group Chief Financial Officer	via FTI
Canaccord Genuity (Nomad and Broker) Henry Fitzgerald-O'Connor Patrick Dolaghan	0207 523 8000
FTI Consulting (Financial PR advisor) Ben Brewerton Dhruv Soni	Tel: [phone] [e-mail]

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.

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 it's 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.

 

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