The information contained within this announcement is deemed
to constitute inside information as stipulated under the retained
EU law version of the Market Abuse Regulation (EU) No. 596/2014
(the "UK MAR") which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018. The information is disclosed in
accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public
domain.
29 April 2024
DG Innovate
plc
("DG
Innovate" or the "Company")
Late Notification of Dealings
by a Person Closely Associated with a Director
DG Innovate (LSE: DGI), the advanced
research and development company developing
pioneering solutions in sustainable mobility and energy
storage, announces that Martin Boughtwood,
the Company's Chief Technology Officer and an Executive Director,
has notified the Company that his wife, Denise Boughtwood, has
undertaken a number of trades in the
Company's ordinary shares of £0.0001 each ("Shares")
that have not been previously notified or
otherwise disclosed to the Company as required by Article 19 of the
Market Abuse Regulation (EU) 596/2014 of 16 April 2014, which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018 ("MAR").
The Company has been informed that
Denise Boughtwood bought 250,798 Shares in aggregate, equating to
approximately 0.002% of the Company's issued ordinary share capital
through two separate trades on 13 December 2023 and 25 January
2024.
In addition, the Company has been
informed that between 6 March 2024 and 19
April 2024 Denise Boughtwood executed via her broker a total of 37
trades resulting in the sale of 101,068,950 Shares in aggregate,
which equates to approximately 0.99% of the Company's issued
ordinary share capital. The total consideration received for
the sale of these Shares was £152,110.55. A list of the
disposals is set out in table 1 below.
The Company is seeking confirmation
that no further transactions by her have taken place. Following
these Share sales and purchases, the Company understands that
Denise Boughtwood currently holds a total of 365,136,401 Shares,
equating to approximately 3.56% of the Company's issued ordinary
share capital.
Denise Boughtwood was required under
Article 19(1) of MAR to notify the Company and the FCA promptly and
no later than three working days following each transaction,
however no such notification was made. Further, no clearance
was sought from the Company in respect of any of the transactions
set out above, in breach of the Company's Share Dealing Code
covering persons discharging managerial responsibility ("PDMR") and
their persons closely associated ("PCA").
The Company was made aware of the
transactions on 26 April 2024 by Martin Boughtwood and the Company
is undertaking an investigation to establish the facts of the
matter and whether any other breaches have occurred. The
Company have been informed that the transactions were executed by
Denise Boughtwood in ignorance of the restrictions that apply to
her under Article 19 of MAR and under the Share Dealing Code as a
PCA with her husband.
Martin Boughtwood is co-operating
fully with the Company's investigation and the Board is considering
appropriate courses of action in the circumstances, both in respect
of Martin Boughtwood's position as a Director and also his role
within the Company. Further announcements will be made in due
course as appropriate.
Table 1:
|
Date
|
Nature of
Transaction
|
Quantity of
Shares
|
Price per
Share
|
Amount
Received
|
|
6/3/24
|
Disposal
|
10,000,000
|
£0.001705
|
£17,050.00
|
|
11/3/24
|
Disposal
|
3,000,000
|
£0.001675
|
£5,025.00
|
|
19/3/24
|
Disposal
|
3,000,000
|
£0.001750
|
£5,250.00
|
|
20/3/24
|
Disposal
|
3,000,000
|
£0.001711
|
£5,133.00
|
|
26/3/24
|
Disposal
|
1,000,000
|
£0.001650
|
£1,650.00
|
|
27/3/24
|
Disposal
|
2,000,000
|
£0.001680
|
£3,360.00
|
|
28/3/24
|
Disposal
|
4,000,000
|
£0.001736
|
£6,944.00
|
|
28/3/24
|
Disposal
|
4,000,000
|
£0.001678
|
£6,712.00
|
|
2/4/24
|
Disposal
|
2,000,000
|
£0.001666
|
£3,332.00
|
|
3/4/24
|
Disposal
|
2,000,000
|
£0.001629
|
£3,258.00
|
|
3/4/24
|
Disposal
|
2,000,000
|
£0.001565
|
£3,130.00
|
|
4/4/24
|
Disposal
|
2,000,000
|
£0.001561
|
£3,122.00
|
|
4/4/24
|
Disposal
|
2,000,000
|
£0.001558
|
£3,116.00
|
|
5/4/24
|
Disposal
|
3,000,000
|
£0.001567
|
£4,701.00
|
|
5/4/24
|
Disposal
|
3,000,000
|
£0.001500
|
£4,500.00
|
|
8/4/24
|
Disposal
|
3,000,000
|
£0.001561
|
£4,683.00
|
|
9/4/24
|
Disposal
|
4,000,000
|
£0.001511
|
£6,044.00
|
|
9/4/24
|
Disposal
|
3,000,000
|
£0.001511
|
£4,533.00
|
|
10/4/24
|
Disposal
|
3,000,000
|
£0.001505
|
£4,515.00
|
|
11/4/24
|
Disposal
|
2,000,000
|
£0.001460
|
£2,920.00
|
|
11/4/24
|
Disposal
|
500,000
|
£0.001450
|
£725.00
|
|
12/4/24
|
Disposal
|
1,000,000
|
£0.001450
|
£1,450.00
|
|
12/4/24
|
Disposal
|
4,000,000
|
£0.001420
|
£5,680.00
|
|
15/4/24
|
Disposal
|
3,865,000
|
£0.001400
|
£5,411.00
|
|
15/4/24
|
Disposal
|
3,950
|
£0.001406
|
£5.55
|
|
15/4/24
|
Disposal
|
3,000,000
|
£0.001408
|
£4,224.00
|
|
16/4/24
|
Disposal
|
2,000,000
|
£0.001353
|
£2,706.00
|
|
16/4/24
|
Disposal
|
2,000,000
|
£0.001326
|
£2,652.00
|
|
16/4/24
|
Disposal
|
3,000,000
|
£0.001321
|
£3,963.00
|
|
17/4/24
|
Disposal
|
3,000,000
|
£0.001258
|
£3,774.00
|
|
17/4/24
|
Disposal
|
3,000,000
|
£0.001251
|
£3,753.00
|
|
17/4/24
|
Disposal
|
3,200,000
|
£0.001255
|
£4,016.00
|
|
18/4/24
|
Disposal
|
2,000,000
|
£0.001319
|
£2,638.00
|
|
18/4/24
|
Disposal
|
3,000,000
|
£0.001277
|
£3,831.00
|
|
18/4/24
|
Disposal
|
2,500,000
|
£0.001282
|
£3,205.00
|
|
19/4/24
|
Disposal
|
2,500,000
|
£0.001289
|
£3,222.50
|
|
19/4/24
|
Disposal
|
1,500,000
|
£0.001251
|
£1,876.50
|
|
Total
|
|
101,068,950
|
|
£152,110.55
|
For
further information please contact:
|
DG
Innovate plc
|
C/O IFC
|
|
Peter Bardenfleth- Hansen
(CEO)
Jack Allardyce (CFO)
|
|
|
|
|
|
IFC
Advisory (Investor Relations)
|
020 3934 6630
|
|
Tim Metcalfe
Zach Cohen
|
|
|
|
|
|
FGS
Global (Public Relations)
|
020 7251 3801
|
|
Rollo Head
Gordon Simpson
Alessandro M Rubin
|
|
|
|
|
|
Grant Thornton UK LLP (Financial Adviser)
|
020 7383 5100
|
|
Samantha Harrison
Jamie Barklem
Ciara Donnelly
|
|
|
|
|
|
Cavendish Capital Markets Limited (Corporate
Broker)
|
020 7220 0500
|
|
Adrian Hadden / George Lawson
(Corporate Finance)
|
|
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 numerous 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
