Insig AI Plc Revision of Convertible Loan Facility Agreement (8265E)
04 July 2023 - 4:00PM
UK Regulatory
TIDMINSG
RNS Number : 8265E
Insig AI Plc
04 July 2023
4 July 2023
Insig AI plc
("Insig AI" or the "Company")
Revision of Convertible Loan Facility Agreement
Insig AI plc (AIM: INSG), the data science and machine learning
group, is pleased to announce the Company has agreed revised terms
for the Convertible Loan Note agreement (the "Agreement" or the
"CLN") with Richard Bernstein (the "Loan Note Holder") as announced
on 12 September 2022 for GBP0.75m. The Company and Loan Note Holder
have agreed to extend the term of the CLN by six months to 30
December 2023. All other terms are unchanged.
The directors of the Company (excluding Richard Bernstein),
having consulted with Zeus Capital Limited, the Company's nominated
adviser, consider that the terms of the Convertible Loan are fair
and reasonable insofar as the Company's shareholders are
concerned.
Richard Bernstein commented: "As I see the Company continuing to
broaden both its product offering and engagement with potential
strategic partners, I am happy to extend the term of the CLN."
For further information, please visit www.insg.ai or
contact:
Insig AI plc colm.mcveigh@insg.ai
Colm McVeigh (CEO)
Zeus Capital Limited (Nominated Adviser
& Broker)
David Foreman / James Hornigold /
Danny Phillips +44 (0) 20 3829 5000
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