2 July 2024
DG
Innovate plc
("DG
Innovate" or the "Company")
Result of
AGM
Corporate
Update
DG Innovate (LSE: DGI), the advanced
research and development company pioneering sustainable and
environmentally considerate improvements to electric mobility and
energy storage, announces the results of voting on the Resolutions
put to its Annual General Meeting ("AGM") held earlier today. All
Resolutions put to Shareholders at the meeting were duly passed on
a show of hands.
Corporate Update
The Company is pleased to provide an
update on recent progress across its technical and commercial
workstreams:
· The Company's CEO Peter Bardenfleth-Hansen and CTO Pierre
Pellerey recently visited its proposed joint venture partner, EVage
Motors, in Punjab, India. Significant progress has been made on
technical specifications for the first Pareta® motors and the
parties expect to sign the joint venture agreement during the
summer with a view to establishing production during
2025.
· The
Company is in the process of assembling and testing a prototype
450kW Pareta® motor for delivery to its collaboration partner
Cummins-Meritor, for use in heavy commercial vehicles.
· Initial prototypes for the previously announced joint
development agreement for Pareta® drives for novel heavy goods
vehicle applications are also being completed for testing and
delivery to the Company's development partner.
·
The Company continues to
consider targeted acquisition opportunities within the wider
e-mobility space, which would allow it to further accelerate its
commercialisation strategy.
In addition, a new shareholder
presentation will shortly be uploaded to the Company's
website: https://www.dgiplc.com
Proxy Votes
The proxy votes received in respect
of the resolutions at the AGM were as follows:
|
RESOLUTIONS
|
For
|
%
|
Against
|
%
|
Withheld
|
|
Ordinary Resolutions
|
|
|
|
|
|
|
1. To
receive the
Company's annual
accounts for
the year
ended 31
December 2023
|
728,845,277
|
99.99
|
22,103
|
0.01
|
463,301
|
|
2. To approve the reappointment of
PKF Littlejohn LLP as auditors and the Directors to fix their
remuneration
|
728,906,578
|
99.94
|
424,103
|
0.06
|
0
|
|
3. To
re-elect Peter
Bardenfleth- Hansen as a director
|
728,465,414
|
99.99
|
1,966
|
0.01
|
863,301
|
|
4. To
re-elect Christian
Eidem as a
director
|
728,465,414
|
99.99
|
1,966
|
0.01
|
863,301
|
|
5. To
re-elect Jochen
Rudat as a
director
|
728,465,414
|
99.99
|
1,966
|
0.01
|
863,301
|
|
6. That the Directors be authorised
to allot shares and grant rights to subscribe for, or convert any security into, shares up to an aggregate nominal amount of £4,000,000
|
720,293,922
|
98.78
|
8,908,512
|
1.22
|
128,247
|
|
Special Resolutions
|
|
|
|
|
|
|
7. That the Directors be authorised
to allot equity securities as if section 561 of the Companies Act
2006 did not apply in connection with: (i) an offer of equity
securities to the
holders of
ordinary shares
in proportion
to their
respective holdings; and (ii) the allotment of equity
securities up to an aggregate nominal amount of
£2,000,000
|
717,230,808
|
98.36
|
11,971,626
|
1.64
|
128,247
|
|
8. That the Directors be authorised
to allot equity securities as if section 561 of the Companies Act 2006 did not apply provided that such authority shall be limited to the allotment of equity securities up to an aggregate
nominal amount of £2,000,000 for the purpose of Fnancing an
acquisition or other capital investment
|
719,630,808
|
98.69
|
9,571,626
|
1.31
|
128,247
|
Capitalised terms not otherwise
defined in this announcement have the same meaning as ascribed to
them in the circular to Shareholders dated 7 June 2024 and
available on the Company's website at https://www.dgiplc.com/agm.
For
further information please contact:
|
DG
Innovate plc
|
C/O IFC
|
|
Peter Bardenfleth- Hansen
(CEO)
Jack Allardyce (CFO)
|
|
|
|
|
|
IFC
Advisory (Investor Relations)
|
020 3934 6630
|
|
Tim Metcalfe
Zach Cohen
|
|
|
|
|
|
FGS
Global (Public Relations)
|
020 7251 3801
|
|
Rollo Head
Gordon Simpson
Alessandro M Rubin
|
|
|
|
|
|
Grant Thornton UK LLP (Financial Adviser)
|
020 7383 5100
|
|
Samantha Harrison
Jamie Barklem
Ciara Donnelly
|
 
|
|
|
|
|
Cavendish Capital Markets Limited (Corporate
Broker)
|
020 7220 0500
|
|
Adrian Hadden / George Lawson
(Corporate Finance)
|
|
About DG Innovate
DG Innovate is an advanced research and development company pioneering
sustainable and environmentally considerate improvements to
electric mobility and storage, using abundant materials and the
best engineering and scientific practices. DG Innovate is currently
developing its products alongside a number of major manufacturers
across the transportation and energy sectors, research institutions
and the UK Government, and has filed numerous patents worldwide. DG
Innovate's current research and development activities are broadly
split into two areas, focusing on novel electric motor technologies
and energy storage solutions. Its two main products
are:
- Enhanced Drive Technology (EDT) -
High efficiency, cost-effective electric motors + power
electronics; and
- Enhanced Battery Technology (EBT)
- Sodium-ion batteries offering a sustainable energy storage
solution at similar/greater energy density to incumbent
technologies at a lower cost, increased safety with lower
environmental footprint.
Further information may be found
at: https://www.dgiplc.com
