Insig AI
plc
("Insig AI" or the
"Company")
Share subscription, director
dealing and total voting rights
Insig AI plc (AIM: INSG), the data
science and machine learning group, announces that Richard Bernstein, Executive Chairman of Insig AI has
subscribed for 500,000 new ordinary shares of 1 pence each in the
Company ("Ordinary Shares") in connection with the
Funding Facility announced
on 4 April 2024.
Share Subscription
The Ordinary Shares have been issued
at a price of 20 pence per share raising gross proceeds of £100,000
(the "Subscription Shares"). The subscription price of 20 pence per
share represents a 29.0% premium to the closing share price of 15.5
pence on 1 May 2024. Following the
issuance of the Subscription Shares, Mr Bernstein's shareholding is
21,205,380 Ordinary Shares, which represents 19.3% of the Company's
total voting rights. After the issuance of the Subscription Shares,
£100,000 remains available for draw down under the Funding
Facility.
Admission and Total Voting Rights
Application will be made to the
London Stock Exchange for admission of the Subscription Shares to
trading on AIM ("Admission"). It is expected that Admission will
become effective and dealings in the Subscription Shares will
commence on or around 8 May 2024.
The Subscription Shares will be
issued fully paid and will rank pari passu in all respects with the
Company's existing Ordinary Shares.
Following Admission, the total
number of Ordinary Shares in the capital of the Company in issue
will be 110,351,025. As the Company currently holds 505,888
Ordinary Shares in treasury, the total number of voting rights in
the Company following Admission will be 109,845,137. This figure
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company's share
capital pursuant to (i) the Company's Articles, (ii) the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules
and/or (iii) the AIM Rules for Companies issued by the London Stock
Exchange plc as amended from time to time.
For further information, please
visit
www.insg.ai or
contact:
NOTIFICATION AND PUBLIC DISCLOSURE
OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
AND PERSONS CLOSELY ASSOCIATED WITH THEM
1.
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name:
|
Richard Bernstein
|
2.
|
Reason for the notification
|
|
a)
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Position/status:
|
Director
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name:
|
Insig AI Plc
|
|
b)
|
LEI:
|
21380098CKBAG1NWCD98
|
4.
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument:
Identification code:
|
Ordinary shares of 1
pence
GB00BYV31355
|
|
b)
|
Nature of the
transaction:
|
Issue of ordinary shares
|
|
c)
|
Price(s) and volume(s):
|
|
Price(s)
|
Volume(s)
|
|
20 pence
|
500,000
|
|
|
d)
|
Aggregated information:
Aggregated volume:
Price:
|
Single transaction as in 4 c)
above
|
Price(s)
|
Volume(s)
|
|
20 pence
|
500,000
|
|
|
e)
|
Date of the transaction:
|
1 May 2024
|
|
f)
|
Place of the transaction:
|
Off-market
|