Result of Conditional Placing

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

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY.  THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF DG INNOVATE PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. 

10 December 2024

DG Innovate plc

("DG Innovate" or the "Company")

Result of Conditional Placing

DG Innovate plc (LSE: DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, is pleased to announce that, further to the announcement made at 13.08 on 10 December 2024 (the "Launch Announcement"), the Company has conditionally raised £500,000 (before expenses) pursuant to a placing of 625,000,000 new ordinary shares of £0.001 each in the capital of the Company at a price of 0.08 pence per Ordinary Share.

The Placing was conducted by way of an accelerated book build process.

Zeus Capital Limited acted as sole bookrunner, in connection with the Placing.

·      The proceeds from the Placing support the joint venture with EVage Automotive Pvt. Limited ("EVage"), as originally announced on 28 March 2024 and updated on 27 November 2024; and

·      provide ongoing working capital for the Company.

The net proceeds from the Placing will ensure that the Company has sufficient funds for its immediate needs until early February 2025. Accordingly, in conjunction with its commercial activities, the Company will continue to seek further funding and is currently in preliminary discussions with various parties regarding other funding solutions.

The Company has agreed to satisfy the commission payable to the Bookrunner, conditional on a successful Placing, by the allotment and issue of 43,750,000 new Ordinary Shares at the Issue Price (the "Broker Shares").

Admission of the Placing Shares and the Broker Shares is conditional, inter alia, upon the placing agreement dated 10 December 2024 between the Company and the Bookrunner (the "Placing Agreement") not having been terminated and becoming unconditional in all respects.

Admission

Applications will be made to the FCA for admission of the Placing Shares and Broker Shares to listing on the Equity Shares (Transition) category of the Official List; and the London Stock Exchange for admission of the Placing Shares to trading on the Main Market. It is expected that Admission will become effective and dealings in the Placing Shares commence at 8.00 a.m. on or around 17 December 2024. 

Unless defined in this announcement, defined terms used in this announcement have the same meaning as set out in the Launch Announcement.

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