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
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