Saietta Group share price, company news, analysis and interviews

Saietta Group Plc (LON:SED), the multi-national business which designs, engineers and manufactures complete eDrive systems for electric vehicles, today announced its unaudited interim results, covering the six-month period ended 30 September 2023. Financial Highlights for the Period ·    Group income (including grants) of £1.4m compared to £1.3m in prior Period ·   Gross profit of £0.1m (H1 2022: £0.1m) with a gross margin of 9% (H1 2022: 13%).  The decline in gross margin reflects both the absence of retrofit revenues in H1 2023 and high manufacturing costs prior to the Group’s recent automation of production. ·    £0.2m of gain on disposal of fixed assets in the period, generated through the restructuring

Saietta Group plc (LON:SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, has stated that, further to its announcement of 5:45p.m. on 27 November 2023, it has conditionally completed the Bookbuild which is now closed, and a Subscription of new Ordinary Shares by certain of the Company’s Directors and other investors. Pursuant to the Placing and the Subscription, the Company has conditionally placed, in aggregate, 39,649,604 new Ordinary Shares, raising proceeds of approximately £6.7 million (before expenses) at an Issue Price of 17 pence per share, reflecting a 17 per cent discount to the closing price on 24 November 2023, being the last business day prior

Saietta Group plc (LON:SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, announces that its 49.5% owned Indian joint venture, Saietta VNA, has received an order for complete eDrives from its lead Indian client for a second of their light commercial vehicles. The customer is a global OEM (Original Equipment Manufacturer) and one of the largest producers of light commercial vehicles (LCVs) in the Indian market. The purchase order is for approximately £106,000 of systems for the pilot production over the next c3 months. Target volumes indicated by the client, subject to further purchase orders, are expected to

Saietta Group plc (LON:SED), the AIM-listed multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) systems for electric vehicles, has announced that it has convened a general meeting to be held at 11:00 a.m. on Friday, 17 November 2023 at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London EC4R 3TT to consider resolutions to receive the report and accounts for the financial period ended 31 March 2023 and the reappointment of the Company’s auditors. A copy of the notice convening the general meeting, which was sent to shareholders yesterday, is available at the Company’s website at https://www.saietta.com/investors/reports-presentations/. Listed