30 December 2024
Alteration Earth
PLC
(to be renamed Pri0r1ty
Intelligence Group PLC)
Completion of acquisition of
Pri0r1ty AI Limited and fundraising and
admission to trading on
AIM
Total voting
rights
Alteration Earth PLC (to be renamed
Pri0r1ty Intelligence Group PLC) ("ALTE" or the "Company") is
pleased to announce the admission of its entire issued share
capital to trading on the AIM Market of the London Stock Exchange
today ("Admission") whereupon the acquisition of
Pri0r1ty AI Limited ("Pri0r1ty") and fundraising of £0.9 million
will complete. Dealings in the Company's ordinary shares
will commence on AIM today at 8:00 a.m. under the TIDM/ticker
symbol "ALTE". The Company will shortly
change its name to Pri0r1ty Intelligence Group PLC
and accordingly, its TIDM/ticker symbol will change to PR1. A
further announcement will be made once this is completed. The ISIN
and Sedol will remain unchanged.
Pri0r1ty is a London based SaaS
company which empowers SMEs with cost-effective AI tools to
automate processes like social media, investor relations, and
governance. Its platform, Pri0r1ty Advisor, delivers tailored
solutions using deep learning, spanning financing, marketing, and
custom AI bots for client-specific needs.
Key Highlights:
· Completion of the acquisition of Pri0r1ty AI
Limited
· Fundraising via a placing and subscription raised gross
proceeds of £855,000.
· Based
on the issue price of 13.5pence per Share, the market
capitalisation of the Company will be approximately £13 million at
Admission.
· Following Admission the Company will have 96,333,329 ordinary shares in
issue.
· Dealings in the Company's ordinary shares will commence on AIM
at 8.00 a.m. today under the ticker "ALTE".
· Company name to be changed to Pri0r1ty Intelligence Group
plc.
The Company's AIM Admission Document
has further details, which is available on the Company's
website www.altearthplc.com .
With effect from Admission, the Company's website will
be www.pri0r1ty.com.
James Sheehan, CEO, said:
"Pri0r1ty AI was set up to meet a
very real and growing challenge. SMEs spend huge amounts of money -
over £60 billion a year - on external professional services
providers when so many of these tasks can be automated using AI.
With our technology, companies can use advisors for what they do
best, high-end strategic support and technical value-add specialist
services, and make the whole process more efficient and
cost-effective by letting AI handle many of the everyday
tasks. Our solution provides users with a suite of AI-tools
that enables the efficient scaling of their business."
Daniel Gee, a Pri0r1ty AI founder and major shareholder,
said:
"Today marks a significant step
forward in achieving a huge milestone for me personally, for the
company and the UK scale-up tech sector. Since my early days
working in the City it has always been a dream to bring a company
to market, and I am so proud of everything the whole team has
achieved. Too many early-stage British tech companies think that
the only route to growth is through VC funding, or even moving
abroad, but I want to send a message that the LSE and the UK
capital markets can be a smart and viable route to growing a
successful tech company".
Total Voting Rights
On Admission, the issued share
capital of the Company will comprise 96,333,329 ordinary shares of
0.3 pence each with one voting right per share ("Ordinary Shares").
The Company does not hold any Ordinary Shares in treasury. The
total number of Ordinary Shares and voting rights in the Company is
therefore 96,333,329. This figure may be used by shareholders in
the Company 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 share capital of the Company
under the FCA's Disclosure Guidance and Transparency
Rules.
Enquiries:
|
Alteration Earth Plc
Matthew Beardmore,
Chairman
James Sheehan, CEO
|
Tel: +44 (0)20 4501
8549
Email: info@altearthplc.com
|
|
Nominated Adviser - Beaumont Cornish Limited
James Biddle/ Roland
Cornish
|
Tel: +44 (0)20 7628 3396
|
|
Broker - Allenby Capital Limited
Kelly Gardiner - Equity Sales &
Corporate Broking
Jeremy Porter/ Piers Shimwell -
Corporate Finance
|
Tel: +44 (0) 20 3328 5656
|
|
PR
Advisers to Pri0r1ty - Camarco
Marc Cohen, Gabriel Hedengren, Emily
Hall
|
Tel: +44 (0)20 3757 4980
Pri0r1ty@camarco.co.uk
|
Nominated Adviser Statement
Beaumont Cornish Limited
("Beaumont Cornish"), is
the Company's Nominated Adviser and is authorised and regulated in
the United Kingdom by the Financial Conduct Authority. Beaumont
Cornish's responsibilities as the Company's Nominated Adviser,
including a responsibility to advise and guide the Company on its
responsibilities under the AIM Rules for Companies and AIM Rules
for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in the announcement or any
matter referred to in it.
Allenby Capital Limited, which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority, is acting exclusively for the Company as its
Broker and is not acting for and will not be responsible to any
other person for providing protections afforded to customers of
Allenby Capital nor for advising them in relation to the proposed
arrangements described in this announcement or any matter referred
to in it.
