REG - Insig AI Plc - Revision of Convertible Loan Facility Agreement

Insig AiAnnouncement

04/07/2023 07:00

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RNS Number : 8265E  Insig AI Plc  04 July 2023

4 July 2023

 

Insig AI plc

("Insig AI" or the "Company")

Revision of Convertible Loan Facility Agreement

Insig AI plc (AIM: INSG), the data science and machine learning group, is
pleased to announce the Company has agreed revised terms for the Convertible
Loan Note agreement (the "Agreement" or the "CLN") with Richard Bernstein (the
"Loan Note Holder") as announced on 12 September 2022 for £0.75m. The Company
and Loan Note Holder have agreed to extend the term of the CLN by six months
to 30 December 2023. All other terms are unchanged.

The directors of the Company (excluding Richard Bernstein), having consulted
with Zeus Capital Limited, the Company's nominated adviser, consider that the
terms of the Convertible Loan are fair and reasonable insofar as the Company's
shareholders are concerned.

Richard Bernstein commented: "As I see the Company continuing to broaden both
its product offering and engagement with potential strategic partners, I am
happy to extend the term of the CLN."

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

 Insig AI plc                                                         colm.mcveigh@insg.ai

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

 David Foreman / James Hornigold / Danny Phillips

 

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