REG - Insig AI Plc - Equity Subscription and TVR

Insig AiAnnouncement

05/06/2024 07:00

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RNS Number : 1288R  Insig AI Plc  05 June 2024

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
(https://url.uk.m.mimecastprotect.com/s/c1dWCZVA7t591jmCj6A-8?domain=insg.ai)
or contact:

 

Insig AI
plc
        richard.bernstein@insg.ai (mailto: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

 

 

 

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