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Shares until after publication of the 2024 Interim Results (and subject to each not being in possession of any other unpublished price sensitive information at such time).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
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| IFC Advisory (Investor Relations) Tim Metcalfe Zach Cohen | | 020 3934 6630
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| Grant Thornton UK LLP (Financial Adviser) Samantha Harrison Jamie Barklem Ciara Donnelly | | 020 7383 5100 |
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| 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
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| 2 | Reason for the notification | |||||||
| (a) | Position/status | See 1(a) above for positions - all classified as PDMRs of the Company
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| (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
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| (b) | Nature of the transaction | Purchase of Ordinary Shares | ||||||
| (c) | Price(s) and volume(s) |
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| (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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