RCS - All Active Asset Cap - Further Investment in Sentiance

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27/06/2024 08:15

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RNS Number : 0169U  All Active Asset Capital Limited  27 June 2024

27 June 2024

All Active Asset Capital Limited

('AAA' or 'the Company')

Further Investment in Sentiance

AAA has agreed to make a further investment in its key portfolio asset, the
Belgian predictive AI business, Sentiance N.V. ('Sentiance'), in the form of a
loan, convertible into new shares. The investment will be made in equal
quarterly instalments starting today (the 'First Investment'). The investment
will be used by Sentiance to part-fund the repayment of a covid virus loan it
received from the Flanders government in 2020 (the 'Loan').

Following completion and conversion of the First Investment in March 2025, AAA
will own 43% of the share capital of Sentiance (assuming no other equity is
issued by Sentiance in the interim).

AAA has also granted Sentiance the right to require AAA to make a second
investment, on the same terms as the First Investment, that may be made
following the First Investment (the 'Second Investment'). The Second
Investment, if called in full, would fund the balance of the repayment of
the Loan. AAA will announce at the time how much, if any, of the Second
Investment is called by Sentiance and what percentage of Sentiance equity AAA
would then own.

 

For further information:

All Active Asset Capital Limited

James Normand, Chairman

Colin McQuade, Executive Director

www.aaacap.com (http://www.aaacap.com)

 

New North Partners

Graham McWilliam / Robert Fraser

e: graham.mcwilliam@newnorthpartners.com
(mailto:graham.mcwilliam@newnorthpartners.com)

e: robert.fraser@newnorthpartners.com
(mailto:robert.fraser@newnorthpartners.com)

 

Buchanan (Financial PR)

Richard Oldworth / Chris Lane / Toto Berger

t: +44 (0)20 7466 5000

e: aaac@buchanan.uk.com (mailto:aaac@buchanan.uk.com)

 

 

About AAA

AAA is a private technology investment company whose key asset is a
significant holding in Sentiance, the artificial intelligence platform
company.

About Sentiance

Based in Antwerp, Belgium, Sentiance's core technology is an algorithmic
platform which combines telematics with predictive AI technology and
behavioural change techniques to create cutting-edge safety and mobility
solutions. Sentiance's mobile-based technology monitors, and scores with great
accuracy, the likelihood of a rider or driver being involved in an incident,
meaning remedial action can be taken before incidents ever occur.

Sentiance's rivals use hardware-based systems to report the outcome of an
incident after it has happened. By contrast, Sentiance builds mobile-based
software solutions to prevent incidents, saving lives, money, disruption and
time. Sentiance's technology means fewer insurance claims, cheaper premiums,
improved loss ratios, a reduction in incidents, fewer fatalities, reduced
distracted driving and safer roads.

Initially, the technology is being applied to the insurance industry, the 'gig
economy' (e.g. Uber and Delivery Hero) and to mobility authorities with
responsibility for road safety and transportation. Further details of
Sentiance's technology and products are at www.sentiance.com.

 

 

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