This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
01 March 2024
Mortgage Chat
PLC
("Mortgage Chat" or the "Company")
Software Development
Agreement
Mortgage Chat (AQSE:
MCAI), a technology
company developing artificial intelligence ("AI") products for the
mortgage sector, announces that it has entered into a software
development agreement (the "Agreement") with Accru Finance Ltd
("Accru" or the "Developer").
Under this Agreement, the Developer
will design and develop a web-based
application capable of answering specific mortgage-related queries
and will also undertake the development of a responsive website
dedicated to the Company's automated query resolution
service.
As part of the Agreement, the
Developer will be paid a total fee of £15,000 and will be granted
200,000 warrants to subscribe for new ordinary shares ("Warrants")
in the Company. The Warrants have an exercise price of £0.05 per
Ordinary Share and are exercisable for a period of 5 years from the
date of issue.
This transaction is deemed to be a
related party transaction under AQSE Rule 4.6 as Philipp
Kallerhoff, Non-Executive Director of the Company, is a director of
the company that controls Accru and, indirectly, owns 7% of Accru.
The directors of the Company (other than Philipp Kallerhoff)
confirm that, having exercised reasonable care, skill and
diligence, that the related party transaction is fair and
reasonable as far as the shareholders of the Company are
concerned.
For more information, please visit
the Company's website at https://www.mortgagechat.co/
The Directors of the Company take
responsibility for this announcement.
Mortgage Chat
PLC
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Peter Wall,
Executive Chairman
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Via First
Sentinel
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First Sentinel Corporate
Finance
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Brian
Stockbridge
Gabrielle
Cordeiro
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+44
20 3855 5551
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