REG - Mindflair PLC - Investee Company Update - Emergent Entertainment

MindflairAnnouncement

20/12/2023 12:15

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RNS Number : 4957X  Mindflair PLC  20 December 2023

 

 

Mindflair plc

("Mindflair" or the "Company")

 

 

Investee Company Update - Emergent Entertainment

 

 

Mindflair plc (AIM: MFAI), the company investing in next generation technology
focused on AI, announces that it has received notification from its investee
company Emergent Entertainment Ltd ("Emergent"), that Emergent is engaging
with insolvency advisers and is anticipated to be shortly placed into
liquidation.

 

Based on the Company's net asset value at 30 June 2023 ("NAV") of 4 pence per
ordinary share, the Emergent investment represents approximately 0.7 pence per
ordinary share or approximately 17.5% of this NAV. It should also be noted
that the net cash investment made historically by Mindflair in this company
was less than US$200K and that, based on the NAV adjusted for the current
carrying value of this investment, the Company is still trading at around 30%
of its NAV.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement. The person who arranged for the release of
this information is Nicholas Lee, a director of the Company.

 

Enquiries:

 

 Mindflair plc

 Nicholas Lee, Director         Tel: +44 (0) 20 3368 8961
 Nominated Adviser

 Cairn Financial Advisers LLP   Tel: +44 (0) 20 7213 0880

 Liam Murray

 Ludovico Lazzaretti
 Broker

 Peterhouse Capital Limited     Tel: +44 (0) 20 7469 0935

 Duncan Vasey/Lucy Williams     Tel: +44 (0) 20 7469 0936

Notes to Editors

 

About Mindflair plc

 

Mindflair plc (AIM: MLAI) is an investment company providing investors with
access to a portfolio of next generation technology businesses focused on AI
with significant growth potential.

 

The Company is building an investment portfolio of high-tech businesses across
areas such as Artificial Intelligence, Internet of Things, Cyber Security,
Machine Learning, Immersive Technologies and Big Data, which the Board
believes demonstrate evidence of traction and the potential for exponential
growth, due to increasing global demand for development in these sectors.

For further information, visit is https://mindflair.tech/
(https://mindflair.tech/) .

 

 

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