Schedule One Update - Saietta Group plc | RNS | Ticker

Schedule One Update - Saietta Group plc

RNS Announcement

RNS Number : 6216D

AIM

30 June 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

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

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

210 Heyford Park

Upper Heyford

Bicester

Oxfordshire

United Kingdom

OX25 5HE

COUNTRY OF INCORPORATION:

England & Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

https://saiettagroup.com/

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Saietta is a UK company that has developed an innovative AFT electric motor (a design of axial flux motor), designed to deliver class-leading performance for its target markets whilst being low cost and built for mass market production. Saietta's initial target market is the high volume, fast growing lightweight mobility market including motorcycles in Asia.

Saietta's AFT motor has a potentially disruptive design, intended to unlock the technical and economic impediments to the mass market electrification of the global motorbike and lightweight vehicle market. The AFT 140 is Saietta's first AFT branded motor variant and is currently in low volume production. It is optimised for mid-power motorbikes (equivalent to 125-165 cc ICE motorbikes) and last-mile delivery vehicles. The Directors believe the AFT 140 motor is designed to provide class-leading performance for its target market, with high torque density at low voltage and high efficiency for typical start-stop journeys within urban areas.

Saietta was founded in 2008 with the aim of becoming an e-motorbike manufacturer and the business evolved in 2017 to focus on creating high efficiency mass market electric vehicle drive-train solutions. The Group provides end-to-end engineering services for electric motor technology to OEMs, ranging from product definition, through to Computer-Aided Engineering (CAE) & simulation, e-motor electrical & mechanical integration, prototype build vehicle testing, low volume production and production process definition. The Group is headquartered in Oxfordshire, UK, with 28 employees as at 31 March 2021.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of securities to be admitted: 85,045,703 Ordinary Shares

Type and nominal value of securities: Ordinary Shares of £0.0011 each

Shares in treasury: 0

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on admission: Approximately £37.5 million (includes secondary share sales)

Anticipated market capitalisation on admission: Approximately £102.1 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

Approximately 76.9 per cent.

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Anthony (Tony) Gott (Proposed Independent Non-Executive Chairman)

Wicher (Vic) Klaas Kist (Chief Executive Officer)

Steven Harrison (Finance Director)

Emmanuel Clair (Non-Executive Director)

David Wilkinson (Proposed Senior Independent Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

At publication of Admission Document *

Pre Admission**

Post
Admission***

Number of Existing Shares

Percentage of Existing Share Capital

Number of Ordinary Shares

Percentage of Share Capital Pre Admission

Number of Ordinary Shares

Percentage of Enlarged Share Capital

Emmanuel Clair

12,467,615

26.4%

12,738,555

21.8%

12,603,709

14.8%

Amati Global Investors

280,899

0.6%

2,364,232

4.0%

9,530,898

11.2%

Lawrence

Marazzi

9,932,637

21.0%

7,554,543

12.9%

7,554,543

8.9%

Premier Miton

Group plc

0.0%

7,100,000

8.3%

John Michael

Winn

6,646,526

14.1%

6,766,526

11.6%

6,326,934

7.4%

Schroder Investment Management Ltd

0.0%

5,330,900

6.3%

Canaccord

Genuity Inc

0.0%

3,302,080

3.9%

Scott

Roberts

2,726,493

5.8%

2,909,643

5.0%

2,681,723

3.2%

Unicorn Asset Management Limited

Nil

2,625,497

4.5%

2,625,497

3.1%

*The amounts shown under the 'At publication of Admission Document' totals for the 'number of existing shares' and 'percentage of existing share capital' reflects the interests held by each shown party at the time of the expected publication of Saietta Group plc's AIM Admission Document. This excludes any ordinary shares being issued in connection with the EIS/VCT placing shares or options exercised by existing shareholders, prior to admission.

**The amounts shown under the 'Pre Admission' totals for the 'number of existing shares' and 'percentage of existing share capital' reflects the interests held by each shown party at the time immediately prior to Admission and will include any ordinary shares being issued in connection with the EIS/VCT placing shares or options exercised by existing shareholders, immediately prior to admission.

***Reflects all ordinary shares in issue at Admission, but will exclude any ordinary shares that are expected to be issued in connection with the future vesting of options.

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 March

(ii) 12 months to 31 March 2021

(iii) Interim results to 30 September 2021, by 31 December 2021

Final results to 31 March 2022, by 30 September 2022

Interim results to 30 September 2022, by 31 December 2022

EXPECTED ADMISSION DATE:

7 July 2021 (EIS/VCT Shares issued on 6 July 2021)

NAME AND ADDRESS OF NOMINATED ADVISER:

Canaccord Genuity Limited

88 Wood Street

London

EC2V 7QR

NAME AND ADDRESS OF BROKER:

Canaccord Genuity Limited

88 Wood Street

London

EC2V 7QR

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Electronic copies of the Admission Document will be available from the Company's website, https://saiettagroup.com/, from Admission. The Admission Document will contain full details about the applicant and the admission of its securities.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Company intends to adopt the Quoted Companies Alliance, Corporate Governance Code, published by the UK Quoted Companies Alliance (the "QCA Guidelines") from Admission.

DATE OF NOTIFICATION:

30 June 2021

NEW/ UPDATE:

Update

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END

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RNS metadata

Title: Schedule One Update - Saietta Group plc
Time: 08:00:01
Date: 30 Jun 2021
Category: Capital structure
ID: 6216D