26 January
2024
SUBSTRATE
ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA
("Substrate AI" or the "Company")
Buyback
program
Substrate AI (AQUIS: SAI/SAI.B) announces the
approval of a treasury share buy-back program (hereinafter the
"Program"), under the authorization contained in resolution FOUR of
the General Shareholders' Meeting held at the meeting of January
19, 2024, for the acquisition of treasury shares of the
Company.
The Program relates to the Company's
B shares.
The Program is established in
accordance with the provisions of Article 5 of Regulation (EU) No.
596/2014 of the European Parliament and of the Council of 16 April
2014 on market abuse and Commission Delegated Regulation (EU)
2016/1052 of 8 March 2016, with the following terms:
1.- Purpose: the purchase will take
place for amortization, thus reducing the company's share
capital.
2.- Maximum amount: the Program will
have a maximum amount of EUR 15,000,000.
3.- Maximum number of shares: the
maximum number of treasury shares that may be acquired by the
Company under the Program will be 55,000,000 B shares, which
represent, as of the date of this agreement, 39.67% of the
Company's B share capital.
4.- Acquisition price: the shares
will be acquired at market price.
5.- Duration: The Program will begin
on 29 January 2024 and will remain in force until 28 February 2024.
However, the Program may be terminated prior to that date if the
maximum amount and/or maximum number of shares agreed upon has been
reached, or if circumstances arise that make it advisable to
terminate it. In any case, the suspension, termination or
cancellation of the Program, if applicable, will be communicated to
the market.
The Directors of the Company accept
responsibility for the contents of the
announcement.
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.
For further information, please
contact:
Substrate AI
|
|
Lorenzo Serratosa
Chairman
|
info@substrate.ai
|
First Sentinel Corporate
Finance
Corporate
Advisors
|
|
Brian Stockbridge
|
+44 (0) 7858 888
007
|
About Substrate AI: Substrate AI is
an artificial intelligence company based in Spain that creates,
buys and scales companies around AI in diverse sectors such as
fintech, agritech, energy, human resources, or health. All of them
sell products and services built on the bio-inspired reinforced
learning technology developed and patented by Substrate
AI.