DG Innovate PLC £215,000 Director Subscriptions

RNS Number : 3228I

DG Innovate PLC

16 October 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

16 October 2024

DG Innovate plc

 

("DG Innovate" or the "Company")

 

£215,000 Director Subscriptions

 

DG Innovate plc (LSE: DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, announces, further to the Company's announcement on 16 September 2024, details of a £215,000 subscription for 286,666,667 new Ordinary Shares in the Company by certain Directors and senior management of the Company at the Issue Price of 0.075 pence per Ordinary Share (the "Directors' Subscription Shares").

 

As announced on 17 September 2024, the Company raised a total of approximately £0.62 million (before expenses) pursuant to the Placing and Retail Offer at the Issue Price of 0.075 pence per Ordinary Share.  Certain of the Company's management team also intended to subscribe for new ordinary shares at the Issue Price. As the Company was in a closed period under UK MAR at the time of the Placing and Retail Offer, until the publication of the 2024 Interim Results, the Directors and senior management were not permitted to deal in the Company's Ordinary Shares until after publication of the 2024 Interim Results (and subject to each not being in possession of any other unpublished price sensitive information at such time).  Publication of the 2024 Interim Results occurred on 30 September 2024 and the Directors' Intended Subscription has now taken place.

 

The Directors' Subscription Shares have been subscribed as follows:

 

Subscriber	Position	Number of Director Subscription Shares	Resultant holding on Admission	Percentage Holding on Admission
Peter Bardenfleth-Hansen	Chief Executive Officer	70,000,000	70,000,000	0.57%
Jack Allardyce	Chief Financial Officer	36,666,667	42,666,667	0.35%
Jochen Rudat	Executive Director	36,666,667	36,666,667	0.30%
Christian Eidem	Executive Director	103,333,333	3,097,970,443	25.42%
Trevor Gabriel	Non-Executive Director	20,000,000	352,752,664	2.89%
Pierre Pellerey (1)	Chief Technical Officer(2)	20,000,000	20,000,000	0.16%

 

(1)                  Subscription to be made via PESC SARL, a company controlled by Pierre Pellerey

(2)                  Non-board position

 

Further information on these transactions is contained in the disclosure table below.

 

The Company has the authority to issue and allot the Directors' Subscription Shares pursuant to certain existing shareholder authorities granting such powers to the directors at the Company's Annual General Meeting held on 2 July 2024.

 

Application will be made for admission of the 286,666,667 Directors' Subscription Shares to the Official List and to trading on the Main Market ("Admission").  A further announcement will be released in due course in connection with Admission.

 

Capitalised terms used but not defined in this announcement have the same meanings as set out in the Announcement that was published by the Company at 9.22 a.m. on 16 September 2024.

 

Enquiries:

 

DG innovate plc Peter Bardenfleth-Hansen (CEO) Jack Allardyce (CFO)		C/O IFC
IFC Advisory (Investor Relations) Tim Metcalfe Zach Cohen		020 3934 6630
Grant Thornton UK LLP (Financial Adviser) Samantha Harrison Jamie Barklem Ciara Donnelly		020 7383 5100
Cavendish Capital Markets Limited (Corporate Broker) Adrian Hadden / George Lawson (Corporate Finance) Julian Morse (Sales)		020 7220 0500

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014: 

 

1	Details of the person discharging managerial responsibilities/person closely associated
(a)	Names	Peter Bardenfleth-Hansen - Chief Executive Officer Jack Allardyce - Chief Financial Officer Jochen Rudat - Executive Director Christian Eidem - Executive Director Trevor Gabriel - Non-Executive Director PESC SARL, a PCA of Pierre Pellerey - Chief Technical Officer
2	Reason for the notification
(a)	Position/status	See 1(a) above for positions - all classified as PDMRs of the Company
(b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name	DG Innovate Plc
(b)	LEI	21380058VQBP76M7TN11
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 0.1 pence each ISIN GB00BYQD5059 DGI
(b)	Nature of the transaction	Purchase of Ordinary Shares
(c)	Price(s) and volume(s)	Price(s) Volume(s) 0.075p     Peter Bardenfleth-Hansen - 70,000,000   Jack Allardyce - 36,666,667   Jochen Rudat - 36,666,667   Christian Eidem - 103,333,333   Trevor Gabriel - 20,000,000   PESC SARL - 20,000,000
(d)	Aggregated information -  Aggregated volume -  Price	286,666,667 0.075p
(e)	Date of the transaction	15 October 2024
(f)	Place of the transaction	Outside a trading venue

 

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