SED Saietta Group Plc

TIDMSED

RNS Number : 5427W

Saietta Group PLC

12 December 2023

12 December 2023

Saietta Group Plc

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

Extension to Broker Option

Further to the announcement on 27 November 2023, Saietta Group plc (AIM: SED) announces that it has granted an extension to the latest time and date by which the Broker Option can be exercised to 10.00 a.m. on 15(th) December 2023. Proceeds from the Broker Option would provide additional working capital for the Company and for the Company's joint venture, Saietta VNA.

For any further enquiries, please contact:

 
 Saietta Group                                contact@saietta.com 
  T ony Gott , E xecutive 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.

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(END) Dow Jones Newswires

December 12, 2023 12:02 ET (17:02 GMT)

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