Inactive Instrument

Saietta Group plc

SED

GB00BNDM6X87

Saietta shares cancelled from AIM trading as puts itself up for sale

April 05, 2024 at 04:00 pm IST

(Alliance News) - Shares in Saietta Group PLC on Friday were cancelled from trading on AIM.

This comes after the Towcester, England-based manufacturer of drivetrain systems for electric vehicles firm ended its strategic review and appointed administrators last month, following failure to confirm a buyer for the business or to secure additional funding.

It had confirmed some expressions of interest were received but no proposal provided the necessary liquidity, and noted that talks with interested parties would continue in administration.

Saietta first announced that it was putting itself up for sale amid doubts over its survival in February.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Saietta Group plc

Saietta Group Delists from London's AIM	05/04	MT
Saietta shares cancelled from AIM trading as puts itself up for sale	05/04	AN
EARNINGS AND TRADING: Impairment charge pushes Quartix into the red	04/03	AN
Saietta seeks buyer or fresh investment to stave off administration	24/02	AN
FTSE 100 ends day higher but suffers weekly loss	23/02	AN
Saietta Group Kicks Off Formal Sale Process	23/02	MT
Saietta Decides to Conduct Formal Review of Strategic Options Available	23/02	CI
Stocks in red amid sticky US inflation data	13/02	AN
Saietta Group to Sell Production Line in UK Site, Secures Orders for eDrive Vehicles Technology	13/02	MT
AIM WINNERS & LOSERS: Kefi jumps as Tulu Kapi funding closer	13/02	AN
Saietta down after failing to secure steering pump contract	13/02	AN
AIM WINNERS & LOSERS: Harland & Wolff rises as loan talks progress	29/12	AN
Saietta narrows first-half loss as it moves towards production	29/12	AN
FTSE 100 to edge higher, rounding off lacklustre year	29/12	AN
Earnings Flash (SED.L) SAIETTA GROUP Reports Fiscal H1 Revenue GBP977,229	29/12	MT
Earnings Flash (SED.L) SAIETTA GROUP Posts Fiscal H1 Loss GBX-7.78	29/12	MT
Saietta Group plc Reports Earnings Results for the Half Year Ended September 30, 2023	29/12	CI
First Class says Zigzag enthusiasm "vindicated"	28/11	AN
Saietta Group Targets GBP6 Million in Fundraising	28/11	MT
Molten Ventures completes raise; Saietta proposes one	28/11	AN
Saietta shares surge on new order from lead Indian client	13/11	AN
AIM WINNERS & LOSERS: Brave Bison wins GBP4 million in contracts	13/11	AN
Saietta Group's Stock Rises With New Order for Indian JV	13/11	MT
Saietta Group plc's Joint Venture Saietta VNA Secures Second Major eDrive Order from Mainstream Indian Client	13/11	CI
Stocks fall as risk sentiment remains downbeat	19/23/19	AN

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Company Profile

Saietta Group Plc is a United Kingdom-based company, which is engaged in the multi-national business that designs, engineers and manufactures complete electric drivetrain (eDrive) systems for electric vehicles. The Company's technologies include Axial Flux Technology (AFT) and Radial Flux Technology (RFT) motors, power electronics, powertrain controls, mechanical axles, transmissions and vehicle control units. The Company's solutions can be tailored to a specific application. Its products have applications in Light Duty eDrives (two wheels), Light Duty eDrives (three and four wheel), Heavy Duty eDrives and Marine. Its products include eMotor, Integrated Motor and Inverter, eDrive Radial Flux, eDrive Axial Flux, eAxle, and Vehicle Control Unit (VCU). It is developing a RFT motor to complement its Axial Flux products and offer a wider power, torque and product range to customers. Its Light Duty eDrives (two wheels) products include RFT85-65 48V, AFT140i 48V and AFT140i 96V.

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Heavy Electrical Equipment

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