The information communicated within
this announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulations (EU) NO. 596/2014. It
forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018. Upon the publication of this
announcement, this information is considered to be in the public
domain.
5 June 2024
Insig AI
plc
("Insig AI" or the
"Company")
Equity subscription raising
£0.813 million gross and net
and total voting
rights
The Company is pleased to announce
that it has successfully raised £0.813 million gross and net, by
way of an equity subscription for 6,500,000 ordinary shares of 1
pence each in the Company ("Subscription Shares") at 12.5 pence per
Ordinary Share, (the "Subscription
Price") (the "Subscription").
The Subscription Price is at a two
per cent discount to the closing price of the Ordinary Shares on 4
June 2024.
£0.75 million of the Subscription is
from a new investor, NR Holdings Limited. John Wilson, Insig AI
Chairman, also subscribed for £62,500 of shares. Further details of
John Wilson's subscription are provided in the PDMR dealing table
at the end of this announcement.
It is intended that the proceeds of
the Subscription will be utilised to invest in sales and marketing
as well as for working capital purposes.
Richard Bernstein, Chief Executive commented:
"We're delighted
to welcome a new investor of this calibre at a time when the
Company is laser focused on converting its strong machine learning
repository and data science capabilities into client wins and
growing and sustainable revenues.
Total voting rights
Application will be made to the
London Stock Exchange for admission of the Subscription Shares to
trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings in the Subscription
Shares will commence on or around 11 June 2024.
The Subscription Shares will be
issued fully paid and will rank pari passu in all
respects with the Company's existing Ordinary Shares.
Following the issue of 6,500,000
Subscription Shares, the issued share capital and total voting
rights of the Company will be 117,745,137. Shareholders may use
this figure as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For further information, please
visit
www.insg.ai or
contact:
Insig AI
plc
richard.bernstein@insg.ai
Richard Bernstein
(CEO)
Zeus (Nominated Adviser &
Broker)
David Foreman / James Hornigold
+44 (0)20 3829 5000
Notification and public disclosure
of transactions by persons discharging
managerial
responsibilities and persons closely associated with them:
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
John Wilson
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Non-Executive Chairman
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Insig AI plc
|
|
b)
|
LEI
|
21380098CKBAG1NWCD98
|
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
|
Ordinary Shares of 1 pence
each
|
|
|
|
|
Identification code
|
GB00BYV31355
|
|
|
|
|
b)
|
Nature of the transaction
|
Purchase of shares
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
12.5 pence
|
500,000
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
|
|
- Aggregated volume
|
|
|
|
|
|
- Price
|
|
|
|
|
|
e)
|
Date of the transaction
|
4 June 2024
|
|
f)
|
Place of the
transaction
|
London Stock Exchange
|