Fundraising of £2.0 million

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives announces that it has raised a total of £2.0 million (c.US$2.5m) before expenses, in a fundraising (the "Fundraising") comprising of a placing ("Placing") from existing and new shareholders, by way of the issue of, in aggregate, 16,900,000 new ordinary shares of 0.4 pence each in the Company (the "Ordinary Shares"), at a price ("Placing Price") of 10 pence per share (the "Placing Shares") , together with a subscription ("Subscription") by existing and new shareholders of, in aggregate, 3,100,000 new Ordinary Shares ("Subscription Shares") at the Placing Price.

The Placing was undertaken by the Company's broker SP Angel Corporate Finance LLP.

Key Highlights:

• £2.0m (US$2.5m) before expenses was raised by means of the Fundraising.

Funds raised will be used as follows:

• £300,000 to complete the build-out and commercial deployment of Guident Ltd's new Remote Monitor and Control Centre (RMCC)
• £500,000 for investment into Generative AI portfolio company opportunity
• Repayment of the loan of £600,000 plus interest entered into by Tekcapital Europe Limited (a wholly owned subsidiary of the Company) with Innovative Eyewear Inc. as announced on 12 January 2024
• the remainder of the funds raised will primarily be for additional working capital.

Admission and Total Voting Rights

Application will be made for the Placing Shares and Subscription Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 06 March 2024.

Following the issue of the Placing Shares and the Subscription Shares, which, on Admission, will rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 198,188,162 . There are no shares held in treasury.

The above figure of 198,188,162 Ordinary Shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc commented:

"We are pleased to consummate this funding round which will enable us to strengthen our balance sheet, complete the build-out of Guident's new RMCC to facilitate servicing its growing client base, and form a fifth portfolio company in the Generative AI space."

Clifford M. Gross, Ph.D.

Tim Thompson/Andrea Seymour/Fergus Mellon