Directorate Change

Saietta Group PLC

06 October 2023

 

6 October 2023

Saietta Group Plc

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

 Directorate Change

Saietta Group plc (AIM: SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, announces that it has received notice from the Company's Chief Financial Officer, Steven Harrison, of his intention to resign as an officer and director of the Company for personal reasons.

It has been agreed that Mr Harrison will remain as a statutory director of the Company until such time as the annual accounts for the financial year ended 31 March 2023 have been finalised and signed off by the Board. The accounts are expected to be finalised and announced in the coming days.

While terms are to yet to be agreed, it is expected that Mr Harrison will remain in his role as Chief Financial Officer for a period of time to assist the Company with a smooth transition of responsibilities to his replacement following a thorough handover process. The Board is initiating a search for a new CFO and the Company will announce details of such appointment and Mr Harrison's departure date in due course.

Tony Gott, Executive Chairman of Saietta, said:

"On behalf of the Board I would like to thank Steve for his contributions to the Company, particularly during the Company's successful IPO on the AIM market and in its transition from a development company to one which is now approaching significant commercial scale up."

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This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

For any further enquiries, please contact:

Saietta Group Tony Gott, Executive Chair David Woolley, Chief Executive Officer	via FTI
Canaccord Genuity (Nomad and Broker) Henry Fitzgerald-O'Connor / Harry Pardoe	0207 523 8000
FTI Consulting (Financial PR advisor) Ben Brewerton / Dhruv Soni	Tel: [phone] [e-mail]

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About Saietta Group plc

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.

 

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