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DG Innovate – placing including ‘to support the establishment of a joint venture and other commercial strategies’. Er, for how long will it so “support”?!…

By Steve Moore | Thursday 9 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Describing itself as an “advanced research and development company developing pioneering solutions in sustainable mobility and energy storage”, DG Innovate (DGI) is “pleased to announce” a placing including to “support the establishment of the joint venture with EVage Automotive Pvt. Limited and other commercial strategies, and also to strengthen the company's balance sheet”. How ‘pleasing’ is the announcement from a prior 0.1125p share price?
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