Agilitee Limited Announces the Appointment of Verityhurst Capital to Advise on Capital Raising
JOHANNESBURG South Africa, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Agilitee Limited. (“Agilitee”), the electric vehicle manufacturer, today announced the plan of its capital raising exercise through the offering of 50,000,000 shares at a price of R20.00 per share. Of the offered shares, 10,000,000 shares are being offered as preferred shares that will have a dividend yield. Once the capital raising has been successfully completed, the Company will then start the process of listing the shares of the Company on a market that appreciates tech start-ups that operate in the EV industry such as Agilitee. The capital raising when successfully completed, will represent 5% of Agilitee’s outstanding share capital.Agilitee’s shares are expected to begin trading on a favourable stock exchange in the third quarter of 2021. The offering is expected to close in June 2021, subject to customary closing conditions. Agilitee plans to float directly without an IPO as soon as the Capital Raising exercise is completed. The Company has also started to sell licenses for those who want to bring Agilitee’s electric scooters and motorcycles to their respective African Countries as main franchisees. Agilitee is selling the licenses for Agilitee South Africa, Agilitee Nigeria, Agilitee Zimbabwe to name just a few. The model is to sell these licenses and in turn the licensees would regional sub-licensees per state, region or province and sell the vehicles directly to the public. At no point will Agilitee sell the vehicles to the public as only the licensees will sell directly to the public, being supplied by Agilitee. There is one national license for each country.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the CIPC regulations of such jurisdiction.
*About **Agilitee*
Agilitee manufactures and produces new electric vehicles, car charging facilities, and other products. Agilitee's business spans over research, production and sales of electric vehicles. It is actively promoting the commercialization of new energy vehicles and connected cars and exploring the research and industrialization of intelligent technologies. www.agilitee.africa
*About Verityhurst Capital *
AN ADVISORY FIRM DEDICATED TO THE SUCCESS OF SMALL TO MIDDLE-MARKET COMPANIES IN AFRICA With Headquarters in Fourways, Johannesburg, Verityhurst Capital is an independent investment banking and advisory firm dedicated to the small to middle market companies in South Africa. Since the founding of Verityhurst Capital in 2019, the firm has provided honest and effective advice on mergers and acquisitions, private capital raising, financial restructuring, fairness opinions and valuations, and strategic advisory to the executive teams, boards of directors, and financial sponsors of public and private companies. Working with one of the most high-ranking Johannesburg Stock Exchange approved Sponsors and Designated Advisors, Verityhurst Capital can swiftly assist its clients in raising capital through listings on the Johannesburg Stock Exchange. www.verityhurstcapital.com
For more information
Email: ipos@verityhurstcapital.com
Website: www.verityhurstcapital.com