25 July 2024
SUBSTRATE
ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA
("Substrate AI" or the
"Company")
Issue of
equity
Substrate AI (AQUIS: SAI/SAI.B)
announces that it will be issuing 28,645,665 ordinary class A shares of €0.1 per
share ("Class A New Shares") in connection with investments
previously announced which were conditional on the approval by the
Official Registrar of Companies in Spain. Further details are set
out below:
- 4,000,000 Class A New Shares
at a price of €0.5 per share, pursuant to the investment agreement
entered into with the venture capital investment fund IMPULSE TECH
TRANSFER CLM FCR ( "IMPULSE") announced on 22 December
2023.
- 24,645,665 Class A New Shares at a price of €0.254 per
share, following the capital increase
agreed by the Company on 19 December 2023 under the formula of the
compensation of credits provided for in the Spanish Companies Act
announced on 22 December 2023.
The Class A New Shares rank pari
passu with existing shares in issue. Application will be made for
the Class A New Shares to be admitted to trading on the AQSE Growth
Market and admission is expected to become effective, and dealings
in the Class A New Shares are expected to commence on or around 31
July 2024.
Following this issue, the Company's
issued share capital consists of:
- 100,611,739 Class A Shares,
each share carrying the right to one vote. This figure should be
used by shareholders in the Company 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 under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.
- 138,638,460
Class B Shares, which do not carry voting rights. This figure
should be used by shareholders in the Company 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 under the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
The Company does not hold any shares
in Treasury.
The Directors of Substrate AI accept
responsibility for this announcement.
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.