REG - Sundae Bar PLC - AIM Application /Condit Fundraise /Withdrawal AQSE

Aquis ExchangeAnnouncement

29/05/2025 09:15

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RNS Number : 5793K  Sundae Bar PLC  29 May 2025

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This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain. 

 

29 May 2025

 

Sundae Bar Plc

 

("Sundae Bar" or the "Company")

Application for admission to trading on AIM

Conditional fundraise of £2,000,000

Withdrawal of trading of Sundae Bar Plc from Aquis Stock Exchange

Withdrawal of trading of Ora Technology Plc from Aquis Stock Exchange

 

Sundae Bar Plc is pleased to announce that it has applied for admission of the
entire issued and to be issued share capital of the Company to trading on AIM
("Admission"). Dealings in the ordinary shares on AIM are expected to commence
at 8.00 a.m. on 3 June 2025, under the ticker "SBAR" and the ISIN
GB00BRXKJ754.

Following the acquisition of Ora Technology PLC, Sundae Bar is developing a
dynamic platform named sundae_bar that serves as a marketplace for AI Agents,
enabling AI developers to market, manage, and sell their agents. This platform
intends to provide essential tools for creating, customising, and monetizing
AI agents, in order to offer a full-service solution for AI creators similar
to how e-commerce platforms empower e-commerce entrepreneurs.

Conditional Placing

The Company is also pleased to announce a conditional placing by Clear Capital
Markets Limited for a total of 25,000,000 new ordinary shares of 0.1 pence
each in the share capital of the Company ("Placing Shares") at an issue price
of £0.08 per Placing Share, raising gross proceeds of £2,000,000 (before
expenses) (the "Placing"). The Placing is conditional on Admission.

The Placing Shares, when issued and fully paid, will rank pari passu in all
respects with the existing ordinary shares of the Company in issue and
therefore will rank equally for all dividends or other distributions declared,
made or paid after the issue of the Placing Shares.

Jill Kenney, CEO of Sundae Bar, said: "This successful £2 million capital
raise represents a pivotal moment for Sundae Bar. The strong investor support
validates our strategic acquisition of Ora Technology Plc and our vision to
create the definitive marketplace for AI Agents. Once completed, this funding
will accelerate our integration efforts and ensure we're ready to capitalize
on the rapidly expanding AI Agent market."

Use of net proceeds

Once the Placing is completed, the Company intends to use its net proceeds to
fund the Company's general working capital requirements and grow the business
following the acquisition of Ora Technology PLC.

Proposed Move to AIM

The board of directors of Sundae Bar considers that a move to AIM will be in
the best interests of the Company and its shareholders and, given the growing
scale of the business, AIM is a more appropriate market for the Company and
will enable it to attract a wider pool of investors and improve liquidity over
time.

The full terms and conditions of the Placing and Admission are set out in the
Admission Document, which has been published and will shortly be available to
view on the Company's website at: http://corporate.sundaebar.ai/
(http://corporate.sundaebar.ai/)

Withdrawal of the Company's admission on the Access Segment of the AQSE Growth
Market and Admission will take place simultaneously and are expected to occur
on 3 June 2025.

Withdrawal of admission of Ora Technology PLC on the Access Segment of the
AQSE Growth Market is expected to occur on 3 June 2025.

The Company will make further announcements in relation to Admission and the
withdrawal of both companies as required in due course

Board Appointment

Luke Cairns has been appointed to the Board with effect from 22 May 2025.

The disclosure according to Rule 4.9 of the Aquis Growth Market Access
Rulebook has been made in the announcement dated 1 May 2025.

For further information, please contact:

 Sundae Bar Plc
 Jill Kenney, CEO                hello@sundaebar.ai
 Beaumont Cornish Limited (Nominated Adviser)
 Roland Cornish / Asia Szusciak  +44 (0) 20 7628 3396
 First Sentinel Corporate Finance Limited (Corporate Adviser)
 Brian Stockbridge               +44 (0) 7858 888007
 Clear Capital Markets Limited (Corporate Broker)
 Bob Roberts                     +44 (0) 20 3869 6080

 

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