Admission to AIM and First Day of Dealings

RNS Number : 3718E
Saietta Group PLC
07 July 2021
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 

This announcement is not an admission document or a prospectus and does not constitute or form part of an offer to sell or issue or a solicitation of an offer to subscribe for or buy any securities nor should it be relied upon in connection with any contract or commitment whatsoever. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except in compliance with applicable securities laws on the basis of the information in the admission document (the "Admission Document") published by the Company (as defined below) in connection with the placing of ordinary shares of £0.0011 each (the "Ordinary Shares") by the Company and Admission (as defined below).

 

7 July 2021

 

Saietta Group plc

 

Admission to AIM and First Day of Dealings

 

Saietta Group plc ("Saietta" or the "Company"), a UK company that has developed the innovative AFT electric motor designed for high efficiency electric vehicle drivetrains, is pleased to announce the admission of its entire issued share capital to trading on the AIM market of the London Stock Exchange ("Admission").  Admission will take place and dealings in the Ordinary Shares will commence at 8.00am today under the ticker SED and the ISIN GB00BNDM6X87.

 

The Company and the Selling Shareholders have successfully raised gross proceeds of £37.5 million by way of a placing of new Ordinary Shares and sale of existing Ordinary Shares and the market capitalisation of the Company upon Admission at the issue price will be £102.1 million.

 

The Admission Document will be available to view on the Company's website at www.saiettagroup.com

 

Canaccord Genuity Limited is acting as Nominated Adviser, Sole Bookrunner and Sole Broker to the Company.

 

Vic Kist, Chief Executive of Saietta, said:

 

"We have been greatly encouraged by the very positive reaction to our IPO.

 

"We have taken high end, high performance technology and redeveloped it for low-cost, mass production giving our AFT motors potential across a wide range of end markets. Reducing EV cost and enabling widespread adoption is an essential step for many emerging economies and cities that are gripped by chronic air pollution.

 

"This is especially true in Asia and we believe we are uniquely positioned to disrupt the Asian light motorbike market which is expected to increase to c. 100 million by 2030, 40% of which are forecast to be electric.  We are aiming to capture a material proportion of the growing motorbike market within five years.

 

"It is a pleasure to welcome such a strong blue-chip shareholder base and we look forward to the next chapter in Saietta's growth story."

 

The terms and definitions used in this announcement have the same meaning as ascribed to them in the Admission Document, unless otherwise stated.

 

For further information, visit: https://saiettagroup.com/

 

Enquiries:

 

Saietta Group

Wicher Kist, Chief Executive

Steven Harrison, Finance Director

 

via FTI

Canaccord Genuity (Nomad, Sole Bookrunner and Sole Broker)

Henry Fitzgerald-O'Connor

Richard Andrews

Patrick Dolaghan

 

Tel: +44 (0) 20 7523 8000

FTI Consulting (Financial PR advisor)

Ben Brewerton

James Styles

Dhruv Soni

Tel: +44 (0) 20 3727 1000

saietta@fticonsulting.com

 

 

 

About Saietta Group plc

 

Saietta Group plc is an established engineering company based in Oxfordshire, England. It specialises in propulsion motors for a broad range of electric vehicles (EVs) and has engineered breakthrough, patent-pending, axial-flux motor tech. Its branded AFT (Axial Flux Technology) is modular in design, meaning high and low voltage e-motor solutions can be provided from scooters to buses. Saietta provides end-to-end turnkey engineering services to OEMs from market research and product definition, CAE and simulation, e-motor electrical and mechanical integration, prototype build and vehicle testing on 20 miles of private test tracks. Once motor specifications are agreed for client applications, Saietta can take them into low volume manufacture and define the high-volume production processes for clients to replicate and manufacture under license. The AFT 140 is the first motor variant in production which is optimised for mid-power motorbikes and last mile delivery vehicles. The unique AFT design provides class-leading performance with high torque density at low voltage and is particularly efficient on urban duty cycles. AFT has been rigorously designed for high automation in volume production meaning AFT cost effectively delivers class-leading performance for the L-Category target market.

 

More information is available via the Saietta Group plc website (www.saiettagroup.com). The company can also be found on LinkedIn and Twitter.

 

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