Share subscription, director dealing and TVR
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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") which now completes 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 an 86% premium to the closing share price of 10.75 pence on 29 May 2024. Following the issuance of the Subscription Shares, Mr Bernstein's shareholding is 21,705,380 Ordinary Shares, which represents 19.5% of the Company's total voting rights. After the issuance of the Subscription Shares the Funding Facility has been fully utilised.
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 4 June 2024.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 111,245,137. As the Company does not currently hold any Ordinary Shares in treasury, the total number of voting rights in the Company following Admission will be 111,245,137. 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.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Richard Bernstein | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Director | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| a) | Name: | Insig AI Plc | ||||
| b) | LEI: | 21380098CKBAG1NWCD98 | ||||
| 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): |
| ||||
| 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: | 29 May 2024 | ||||
| f) | Place of the transaction: | Off-market |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.