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Zapp EV Announces Insider Buying

By: Zapp Electric Vehicles Group Limited via GlobeNewswire

August 23, 2023 at 08:05 AM EDT

LONDON, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Zapp Electric Vehicles Group Limited (Nasdaq: ZAPP) (“Zapp EV”, or the “Company”), owner of Zapp, the British electric vehicle brand on a mission to revolutionise personal urban mobility, today announced that members of its senior management team, including CEO Swin Chatsuwan, President Jeremy North, Chief Legal Officer Theodore Allegaert and Chief Commercial Officer David McIntyre, made open-market purchases of 24,800 Company shares between July 27, 2023 and August 18, 2023, at an average price of $1.49 per share. This included the purchase by Mr. Chatsuwan of 17,900 shares at a price of $1.50 per share.

About Zapp EV

Zapp EV (Nasdaq: ZAPP) and its operating subsidiaries are run by a team of experts from the mobility industry, on a mission to redefine the electric two-wheeler segment. Zapp's debut product, the i300, is an urban electric high-performance two-wheeler capable of traditional motorcycle levels of performance in a step-through format, combining ease of use with exhilaration and fun. The i300 is the first in a suite of high-performance electric two-wheelers that Zapp plans to bring to market. Zapp will offer a high-quality direct-to-customer experience known as DSDTC (drop-ship-direct-to-customer). Customers ordering the i300 online will have their bikes conveniently delivered to their home by authorized “Zappers,” who will provide at-home inspection, service and support throughout the vehicle ownership lifecycle. Zapp is a registered trademark of Zapp Electric Vehicles Limited in the United Kingdom and other countries. For more information, visit www.zappev.com.

Investor Relations Contact:

Mark Kobal
Head of Investor Relations
ir@zappev.com

Global Media Relations Contact:

Influence Emobility
Lisa Palmer
+44 (0) 7956 710028
pr@zappev.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (or the “Exchange Act”). Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “budget,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are not historical facts but rather are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events and results to differ materially from those expressed or implied by the forward-looking statements in this document, including but not limited to various general and specific risks and uncertainties associated with the Company's business and finances in general.

Readers should review and carefully consider the risks and uncertainties described in the “Risk Factors” section of Zapp EV's registration statement on Form F-4, as amended (File No. 333-268857), which is incorporated herein by reference, and other documents the Company files with or furnishes to the U.S. Securities and Exchange Commission from time to time. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those expressed or implied by the forward-looking statements herein. The forward-looking statements herein represent the Company’s views as of the date of this document. Subsequent events and developments may cause these views to change. Readers are cautioned not to place undue reliance on the forward-looking statements herein, all of which are qualified by these cautionary statements. Zapp EV assumes no obligation and does not intend to update or revise the forward-looking statements herein, whether as a result of new information, future events, or otherwise. Zapp EV does not give any assurance that it will achieve its expectations. The inclusion of any statement in this document does not constitute an admission by Zapp EV or any other person that the events or circumstances described in any such statements are material.

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