REG - Insig AI Plc - Transfer of Share Options

Insig AiAnnouncement

24/03/2025 07:15

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RNS Number : 8328B  Insig AI Plc  24 March 2025

24 March 2025

Insig AI plc

("Insig AI", the "Company" or the "Group")

Transfer of Share Options

 

Insig AI plc (AIM: INSG), the data science and machine learning group,
announces that Richard Bernstein has transferred 2,000,000 options in the
Company previously granted to him to a non-PDMR consultant to the Company.

These options were originally granted to Richard Bernstein on 6 June 2024 (see
RNS number 3246R), have an exercise price of 20 pence and expire on 5 June
2029. They vest equally over a three-year period, on the first, second and
third anniversary of the date of grant and are subject to certain vesting
criteria, namely:

-     Revenue exceeding £2.0m for a preceding 12 month rolling period
(50% of the award); and

-     Revenue exceeding £3.0m for a preceding 12 month rolling period
(50% of the award).

The transfer was performed to potentially remunerate the consultant (assuming
the options vest) whilst avoiding any cash outflow from the business, and also
by avoiding further potential dilution had new options been granted.

Following the transfer, Richard Bernstein continues to hold 3,666,667 options
and warrants in the Company, which represent approximately 2.75% of the total
fully diluted issued share capital of the Company (following the pending issue
of new ordinary shares on 31 March 2025).

The total number of share options and warrants granted by the Company remains
at 13,160,471, which represents 9.89% of the total issued share capital of the
Company (following the pending issue of new ordinary shares on 31 March 2025).

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

 

Insig AI plc

Richard Bernstein, CEO
 
Richard.bernstein@insig.ai (mailto:Richard.bernstein@insig.ai)

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold
                                 +44 (0) 203 829 5000

 

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                                                         Richard Bernstein

 2    Reason for the notification

 a)   Position/status                                              CEO

 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 each

      Identification code                                          GB00BYV31355

 b)   Nature of the transaction                                    Transfer of previously granted options from Richarda Bernstein to a non-PDMR

                                                                 consultant to the Company

 c)   Price(s) and volume(s)

                                                                                         Price(s)              Volume(s)
                                                                                         20 pence              2,000,000

 d)   Aggregated information                                       N/A single transaction

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      24 March 2025

 f)   Place of the transaction                                     London Stock Exchange

 

 

 

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