Open main menu
Home
Random
Donate
Recent changes
Special pages
Community portal
Preferences
About Stockhub
Disclaimers
Search
User menu
Talk
Contributions
Create account
Log in
Editing
DGI plc
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
=== Corporate Background === Path Investments PLC was previously a cash shell which listed on the Main Market of the London Stock Exchange in March 2017 with a strategy to acquire energy assets. The company then raised £3.85 (gross) million at 0.25p per share to finance its activities in March 2021. '''DGI PLC transaction''' On 13th August 2021 Path announced that it had entered into a conditional sale and purchase agreement to acquire 100% of DG Innovate Ltd, an advanced research and development company focusing on novel electric motor technologies and energy storage solutions. The shares were temporarily suspended from the date of the announcement, with the transaction classed as a reverse takeover under the LSE rules. Consideration for the deal was set at just over £32 million, paid for by the issue of 5,397,451,305 new shares in the company at a price of 0.6p each. A further deferred consideration of £5.4 million, to be satisfied by the issue of 895,610,844 additional shares on the first anniversary of completion, will become payable should the company sign one or more supply agreements prior to this date with a combined potential value of £5 million or more. At the time of the initial announcement, Path agreed to provide a secured loan facility to DGI PLC of up to £600,000, with an initial £300,000 provided on signing of the agreement. The remaining £300,000 was provided in September 2021. A further £450,000 loan facility was agreed in February 2022. The relisting on the LSE was completed on 8th April 2022, with Path Investments changing its name to DGI PLC to reflect its new operations. Following completion, the company is focused on implementing its business plan for the development and commercialisation of DGI’s novel electric motor and energy storage technologies. To fund this, as part of the relisting process the company raised £2.55 million at a price of 0.5p per share via a subscription for 510 million new shares. In addition, warrant exercises raised a further £2.077 million. The net proceeds from these, along with the existing cash in Path, will be employed for working capital purposes including: increased commercial efforts, admin expenses, investing in new R&D staff, development costs and capex, with £0.8 million being used to pay back certain DG Innovate Ltd. loans and interest. Overall, the acquisition and associated funding is expected to provide the basis to develop DGI PLC as it advances further towards product commercialisation in the short to medium-term.
Summary:
Please note that all contributions to Stockhub may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see
Stockhub:Copyrights
for details).
Do not submit copyrighted work without permission!
Cancel
Editing help
(opens in new window)