Results of General Meeting

RNS Number : 8115W

Saietta Group PLC

22 August 2022

 

22 August 2022

Saietta Group plc

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

Results of General Meeting

Saietta (AIM: SED), the international electric powertrain group, announces that, at the General Meeting held earlier today, the resolution set out in the Notice of General Meeting (the "Resolution") contained in the circular published by the Company on 4 August 2022 was duly passed without amendment. The full text of the Resolution is set out in the Notice of General Meeting.

All conditions of the Placing, except for Admission, set out in the Company's announcement on 03 August 2022, have now been met. Application has been made to the London Stock Exchange for an aggregate total of 17,101,450 new Ordinary Shares; comprising the 16,666,667 Placing Shares and 434,783 Broker Option Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings in the Placing Shares and Broker Option Shares will commence at 8.00 a.m. on Wednesday 24 August 2022.

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.

For any further enquiries, please contact:

Saietta Group plc Wicher (Vic) Kist, Group Chief Executive Officer Steven Harrison, Group Chief Financial Officer	via FTI
Canaccord Genuity (Nomad and Broker) Henry Fitzgerald-O'Connor Sam Lucas 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 (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.

 

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