TIDMDGI

RNS Number : 4083O

DG Innovate PLC

31 January 2023

31 January 2023

DG Innovate plc

("DG Innovate" or the "Company")

Result of Broker Option

DG Innovate (LSE: DGI), the advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and energy storage, announces that further to the announcement made on 23 January 2023 the Broker Option, a facility to allow Existing Shareholders with an opportunity to participate in the Fundraise on the same basis as other investors, has now closed having raised a gross amount of GBP18,000, resulting in the issue by the Company of an additional 15,000,000 new ordinary shares of 0.001 pence in the capital of the Company ("Broker Option Shares") and associated 15,000,000 New Warrants at the Issue Price of 0.12 pence per share.

Admission and Total Voting Rights

Application will be made for the 15,000,000 Broker Option Shares to be admitted to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange ("Admission"). It is expected that Admission will become effective and that unconditional dealings will commence on the London Stock Exchange at 8.00 a.m. on 6 February 2023.

Following Admission of the Broker Option Shares, the total number of Ordinary Shares in issue will be 9,208,548,440, each with one voting right. The Company does not hold any rights in treasury. The total voting rights figure is therefore 9,208,548,440 and can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change of their interest in, the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to them in the Company's announcement made on 23 January 2023.

For further information please contact:

 
 DG Innovate plc                              C/O IFC 
 Peter Tierney, CEO 
  Jack Allardyce, CFO 
 
 IFC Advisory (Financial PR & IR)             020 3934 6630 
 Tim Metcalfe 
  Zach Cohen 
 
 Grant Thornton UK LLP (Financial Adviser) 
  Samantha Harrison 
  Jamie Barklem 
  Ciara Donnelly                              020 7383 5100 
 
 OvalX (Joint Broker)                         020 7392 1400 
 Tom Curran 
  Thomas Smith 
 
 WH Ireland (Joint Broker)                    020 7220 1666 
 Chris Hardie 
 Megan Liddell

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 18 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

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END

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(END) Dow Jones Newswires

January 31, 2023 04:53 ET (09:53 GMT)

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