21 November 2023
Saietta Group Plc
("Saietta", the "Company" or the "Group")
Issue of equity
Saietta Group plc (AIM: SED), announces that it has today issued 97,187 new ordinary shares of 0.11 pence each in the capital of the Company ("Ordinary Shares") pursuant to the exercise of options by two former employees of the Company.
An application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 27 November 2023. Following Admission, the Company will have 103,014,862 Ordinary Shares in issue and admitted to trading on AIM. This figure may be used by shareholders in the Company as the denominator for the calculations 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 under the FCA's Disclosure and Transparency Rules.
For any further enquiries, please contact:
Tony Gott, Executive Chair
David Woolley, Chief Executive Officer
Canaccord Genuity (Nomad and Broker)
Henry Fitzgerald-O'Connor / Harry Pardoe
0207 523 8000
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.