REG - Insig AI Plc - Directors gift shares to Company treasury & TVR

Insig AiAnnouncement

21/12/2022 07:00

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RNS Number : 3959K  Insig AI Plc  21 December 2022

21 December 2022

Insig AI plc

("Insig AI" or the "Company")

Directors gift shares to treasury for Company's benefit and total voting
rights

Insig AI plc (AIM:INSG), the data science and machine learning solutions
company serving the asset management industry, is pleased to announce that
following the publication of the Company's interim results to 30 September
2022, founders Steve Cracknell and Warren Pearson, Chief Product Officer and
Chief Technology Officer have gifted at nil value a substantial proportion of
their founder shares to the Company to be held in treasury and to be used at
the discretion of the Company. It is expected that these shares will
predominately be issued to third parties or partners who are expected to help
generate revenues, or add long term value to the business, but also to
employees and other stakeholders as payments or bonuses in lieu of cash.

Steve Cracknell has today gifted 4,500,000 of his 10,818,293 ordinary shares
of 1p each ("Shares") and Warren Pearson has gifted 2,500,000 of his 4,828,082
Shares. These combined 7,000,000 Shares equate to 6.62 per cent. of the
Company's issued share capital.

The Board of Directors, excluding Steve Cracknell and Warren Pearson who are
involved in the transaction as related parties, consider, having consulted
with Zeus Capital, its nominated adviser, that the terms of the transaction
are fair and reasonable insofar as its shareholders are concerned.

Total Voting Rights

Following the transaction, the issued share capital of the Company remains
unchanged at 105,675,645 although the Company now holds 7,000,000 Shares in
treasury. The total voting rights in the Company is now 98,675,645 which 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, Insig AI under the FCA's Disclosure Guidance and
Transparency Rules.

Following the transfer of Shares, Steve Cracknell holds 6,318,293 Shares
representing 6.4% of the total voting rights and Warren Pearson holds
2,328,082 Shares representing 2.4% of the total voting rights.

Colm McVeigh, Chief Executive commented: "I am grateful to Steve and Warren
for enabling shares valued today at over £1.1 million to be utilised for the
Company's future benefit. These Shares are a valuable tool for the Board,
allowing us to work with third parties or partners who we expected to help
generate revenues or add long term value to our business, while incentivising
and retaining the talent in our teams, which is in the best interest of our
business and all our stakeholders."

 

For further information, please visit www.insg.ai (http://www.insg.ai) or
contact:

 Insig AI plc

 Colm McVeigh (CEO)
 Zeus (Nominated Adviser & Broker)                     +44 (0) 20 3829 5000

 David Foreman / James Hornigold / Danny Philips

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:                                                         Warren Pearson
 2.            Reason for the notification
 a)            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:  Ordinary shares of 1 pence

               Identification code:                                          GB00BYV31355
 b)            Nature of the transaction:                                    Transfer of ordinary shares
 c)            Price(s) and volume(s):

Price(s)  Volume(s)
                                                                             nil       2,500,000

 
 d)            Aggregated information:                                       Single transaction as in 4 c) above

Price(s)  Volume(s)
               Aggregated volume:                                            nil       2,500,000

               Price:
 
 e)            Date of the transaction:                                      20 December 2022

 f)            Place of the transaction:                                     Off-market

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

 Price(s)  Volume(s)
 nil       2,500,000

 

e)

Date of the transaction:

20 December 2022

 

f)

Place of the transaction:

Off-market

 

 1.            Details of the person discharging managerial responsibilities/person closely
               associated
 a)            Name:                                                         Steven Cracknell
 2.            Reason for the notification
 a)            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:  Ordinary shares of 1 pence

               Identification code:                                          GB00BYV31355
 b)            Nature of the transaction:                                    Transfer of ordinary shares
 c)            Price(s) and volume(s):

Price(s)  Volume(s)
                                                                             nil       4,500,000

 
 d)            Aggregated information:                                       Single transaction as in 4 c) above

Price(s)  Volume(s)
               Aggregated volume:                                            nil       4,500,000

               Price:
 
 e)            Date of the transaction:                                      20 December 2022

 f)            Place of the transaction:                                     Off-market

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

 Price(s)  Volume(s)
 nil       4,500,000

 

e)

Date of the transaction:

20 December 2022

 

f)

Place of the transaction:

Off-market

 

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