REG - Mindflair PLC - Placing to raise £730,400

MindflairAnnouncement

21/12/2023 12:45

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RNS Number : 6578X  Mindflair PLC  21 December 2023

 

 

Mindflair plc

 

("Mindflair" or the "Company")

 

 

Placing to raise £730,400

 

 

Mindflair plc (AIM: MFAI), the company investing in next generation technology
focused on AI, announces that it has raised gross proceeds of £730,400 (the
"Placing") through the issue of 91,300,000 new ordinary shares of 0.25 pence
in the Company (the "Placing Shares") at a price of 0.8 pence per share (the
"Placing Price").

 

The Placing Price represents a 30% discount to the closing mid-market price of
1.15 pence on 20 December 2023.

 

Background to the Placing

 

The Company is seeing an increased volume of new opportunities and therefore
the Board believes that it is important to have funds available to take
advantage of investment opportunities as they arise.

 

Admission

 

Application will be made to the London Stock Exchange to admit the Placing
Shares to trading on AIM ("Admission"). Admission of the new ordinary shares
is expected to occur on or around 9 January 2024. The Placing Shares will rank
pari passu with the existing ordinary shares.

 

 

Total Voting Rights

 

For the purpose of the Disclosure and Transparency Rules, following Admission,
the enlarged issued share capital of the Company will comprise 274,256,642
ordinary shares of 0.25 pence each. The above figure 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, the Company, under the Disclosure and Transparency Rules.

 

Nicholas Lee, Director of Mindflair, commented:

 

"We are pleased that we have been able to raise new funding in difficult
markets in order to continue to pursue our strategy.  We believe this is a
very exciting time for the Company and we are seeing a number of attractive
investment opportunities.  Furthermore, our change of name and launch of our
new website now clearly reflect and highlight the current focus of the Company
which provides listed equity investors with exposure to a portfolio of AI
technology companies."

 

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 http://www.mindflair.tech/
(http://www.mindflair.tech/) .

 

 

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