Admission to trading on AIM

Pri0r1ty Intelligence

30/12/2024 07:00

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RNS Number : 5630R  Alteration Earth PLC  30 December 2024

30 December 2024

 

Alteration Earth PLC

(to be renamed Pri0r1ty Intelligence Group PLC)

 

Completion of acquisition of Pri0r1ty AI Limited and fundraising and

admission to trading on AIM

Total voting rights

 

Alteration Earth PLC (to be renamed Pri0r1ty Intelligence Group PLC) ("ALTE"
or the "Company") is pleased to announce the admission of its entire issued
share capital to trading on the AIM Market of the London Stock Exchange today
("Admission") whereupon the acquisition of Pri0r1ty AI Limited ("Pri0r1ty")
and fundraising of £0.9 million will complete. Dealings in the Company's
ordinary shares will commence on AIM today at 8:00 a.m. under the TIDM/ticker
symbol "ALTE". The Company will shortly change its name to Pri0r1ty
Intelligence Group PLC and accordingly, its TIDM/ticker symbol will change to
PR1. A further announcement will be made once this is completed. The ISIN and
Sedol will remain unchanged.

Pri0r1ty is a London based SaaS company which empowers SMEs with
cost-effective AI tools to automate processes like social media, investor
relations, and governance. Its platform, Pri0r1ty Advisor, delivers tailored
solutions using deep learning, spanning financing, marketing, and custom AI
bots for client-specific needs.

Key Highlights:

·      Completion of the acquisition of Pri0r1ty AI Limited

·      Fundraising via a placing and subscription raised gross proceeds
of £855,000.

·      Based on the issue price of 13.5pence per Share, the market
capitalisation of the Company will be approximately £13 million at Admission.

·      Following Admission the Company will have 96,333,329 ordinary
shares in issue.

·      Dealings in the Company's ordinary shares will commence on AIM at
8.00 a.m. today under the ticker "ALTE".

·      Company name to be changed to Pri0r1ty Intelligence Group plc.

The Company's AIM Admission Document has further details, which is available
on the Company's website www.altearthplc.com (http://www.altearthplc.com/)
 . With effect from Admission, the Company's website will
be www.pri0r1ty.com (http://www.pri0r1ty.com/) .

 

James Sheehan, CEO, said:

 

"Pri0r1ty AI was set up to meet a very real and growing challenge. SMEs spend
huge amounts of money - over £60 billion a year - on external professional
services providers when so many of these tasks can be automated using AI. With
our technology, companies can use advisors for what they do best, high-end
strategic support and technical value-add specialist services, and make the
whole process more efficient and cost-effective by letting AI handle many of
the everyday tasks.  Our solution provides users with a suite of AI-tools
that enables the efficient scaling of their business."

Daniel Gee, a Pri0r1ty AI founder and major shareholder, said:

 

"Today marks a significant step forward in achieving a huge milestone for me
personally, for the company and the UK scale-up tech sector. Since my early
days working in the City it has always been a dream to bring a company to
market, and I am so proud of everything the whole team has achieved. Too many
early-stage British tech companies think that the only route to growth is
through VC funding, or even moving abroad, but I want to send a message that
the LSE and the UK capital markets can be a smart and viable route to growing
a successful tech company".

 

Total Voting Rights

 

On Admission, the issued share capital of the Company will comprise 96,333,329
ordinary shares of 0.3 pence each with one voting right per share ("Ordinary
Shares"). The Company does not hold any Ordinary Shares in treasury. The total
number of Ordinary Shares and voting rights in the Company is therefore
96,333,329. This figure may be used by shareholders in the Company 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
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

 

Enquiries:

 

 Alteration Earth Plc                                    Tel:  +44 (0)20 4501 8549

 Matthew Beardmore, Chairman                             Email: info@altearthplc.com (mailto:info@altearthplc.com)

 James Sheehan, CEO
 Nominated Adviser - Beaumont Cornish Limited            Tel: +44 (0)20 7628 3396

 James Biddle/ Roland Cornish
 Broker - Allenby Capital Limited                        Tel: +44 (0) 20 3328 5656

 Kelly Gardiner - Equity Sales & Corporate Broking

 Jeremy Porter/ Piers Shimwell - Corporate Finance
 PR Advisers to Pri0r1ty - Camarco                       Tel: +44 (0)20 3757 4980

 Marc Cohen, Gabriel Hedengren, Emily Hall               Pri0r1ty@camarco.co.uk

 

 

Nominated Adviser Statement

 

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated
Adviser and is authorised and regulated in the United Kingdom by the Financial
Conduct Authority. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM Rules for
Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont
Cornish is not acting for and will not be responsible to any other persons for
providing protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in the
announcement or any matter referred to in it.

 

Allenby Capital Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting exclusively for the
Company as its Broker and is not acting for and will not be responsible to any
other person for providing protections afforded to customers of Allenby
Capital nor for advising them in relation to the proposed arrangements
described in this announcement or any matter referred to in it.

 

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