RCS - All Active Asset Cap - Update on Open Offer and Sentiance

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07/06/2024 08:15

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RNS Number : 4783R  All Active Asset Capital Limited  07 June 2024

 

 

 

7 June 2024

 

All Active Asset Capital Limited

('AAA' or 'the Company')

 

Update on Open Offer and Sentiance

 

Open Offer

On 12th April 2024, the Company announced the completion of a £1.75m placing
of 87.5m new shares at 2p per share and a matching Open Offer on the same
terms.

 

The pre-emptive element of the Open Offer has now closed, with the Company
issuing an additional 37.5m new shares at 2p each, raising £0.75m. The cash
raised will be used primarily for further investment to fund the growth of
AAA's key asset, Sentiance N.V. ('Sentiance'). AAA may issue further shares
under the terms of the Open Offer in due course.

 

Following the issue of the 87.5m placing shares and the 37.5m Open Offer
shares, the issued share capital of AAA is now 2,187,732,445 shares.

 

Sentiance

Following AAA's latest investment into Sentiance, part of an internal round
which completed in May 2024, AAA now owns 39.1% of Sentiance. Sentiance has
continued to make significant commercial progress in 2024, highlights
including:

 

·    Sentiance's pioneering mobile Crash Detection technology is now
available for motorcycles. New AI and machine learning models specifically
designed for motorcycle driving insights and crash detection enhance road
safety, benefitting riders, the gig economy and the insurance industry;

·    Sentiance's largest clients have now completed the switch to
'on-device' models and processing, allowing more data protection, privacy and
cost-efficient execution of their road safety and sustainable mobility goals;

·    recent major new client wins in the US and Canada;

·    the on-device processing platform is creating previously unavailable
new opportunities in lower margin geographies, including LATAM and India,
where the first new clients are now being won;

·    the strengthening of the Sentiance board continues with the
appointment of Wing Fa Lau as the new Chief Financial Officer. Wing has
extensive experience as a CFO across various growth industries and
companies and has an MBA and masters in Applied Economics.

 

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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