22nd Jun 2023 16:03
DG Innovate PLC - Bradford, England-based electric mobility and energy storage company - Conditionally raises GBP517,000 through the issue of 1.03 billion new shares at 0.05 pence per share. Appoints Peterhouse Capital Ltd as joint broker. Proceeds will primarily fund DG Innovate's ongoing commercialisation strategy for its Enhanced Drive and Enhanced Battery technology. Placing is subject to the passing of capital reorganisation resolutions at the upcoming annual general meeting. Company proposes to subdivide each existing share into one ordinary share of 0.01p each and one deferred share of 0.09p each. DG Innovate says this would create a differential between the shares' nominal value and market price, to facilitate future share issues.
Current stock price: 0.053p, down 18% in London on Thursday
12-month change: down 75%
By Emma Curzon, Alliance News reporter
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