Change of Name, Board Changes and New Strategy
04/09/2024 07:00
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RNS Number : 7875C Mortgage Chat PLC 04 September 2024
The information contained within this announcement is deemed by the Company
to constitute inside information stipulated under the Market Abuse
Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue
of the European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via the Regulatory Information Service,
this inside information is now considered to be in the public domain.
04 September 2024
Pitch Pit PLC
(formerly Mortgage Chat PLC)
("Pitch Pit" or the "Company")
Change of Name, Board Changes and New Strategy
The Company is pleased to announce that it has changed its name from Mortgage
Chat PLC to Pitch Pit PLC. The change of name was registered on Companies
House on 03 September 2024. The Company's ticker symbol, under which its
shares are currently traded on the AQSE Growth Market namely, "MCAI", will be
changed to "PICH". The name change and new ticker will take effect on the AQSE
Exchange on 05 September 2024, at 8.00 a.m.
New Strategy
The Company is excited to announce a strategic shift towards launching an
artificial intelligence (AI) and technology accelerator, known as the Pitch
Pit Accelerator. This will be led by Chandila Fernando and Judith Hough who
have a wealth of experience and contacts gained during their time working for
Innovate UK, which is part of UK Research and Innovation, the public sector
organisation that invests £8 billion annually to the UK research and
innovation system.
Pitch Pit is designed to foster growth for AI and technology ventures by
identifying the right companies and management teams and assisting them to
procure early-stage funding along with a comprehensive program focused on
helping these companies to grow, innovate and progress.
AI and technology is revolutionising industries worldwide driving exceptional
levels of innovation. However, in a rapidly evolving technological landscape,
even the most innovative ideas can struggle to gain traction. The Pitch Pit
Accelerator addresses this challenge by giving startups access to critical
resources, expert mentorship, and a collaborative environment. This support
enables them to move from concept to market more swiftly than they could
independently, transforming ideas into scalable, investable businesses.
Board Changes
The Company is pleased to announce the following board appointments which will
be made once Alfred Henry Corporate Finance Ltd has conducted the necessary
checks as required by the AQSE Rules. A further announcement will be made upon
the appointments being made:
- Chandila Fernando as an Executive director and CEO
- Judith Hough as an Executive Director and COO
Information for the purpose of Rule 4.9 of the AQSE Growth Market Access
Rulebook for the new directors will be provided once the board appointments
have been made.
The Company is also pleased to announce the appointment of Brian Stockbridge
as a Non-Executive Director with immediate effect.
The following information is provided for the purpose of Rule 4.9 of the AQSE
Growth Market Access Rulebook.
Brian Stockbridge has over 20 years' experience in corporate finance,
including direct investments and financing into companies, IPOs, capital
raisings and mergers and acquisitions for both public and private companies.
He has held board positions on several public and private companies throughout
his career. He has also held director and management positions with Zeus
Capital, Allenby Capital, Noble & Company and Grant Thornton. He served as
a Regulator for the Panel on Takeovers and Mergers, where he presided a
significant number of transactions.
Current directorships Former directorships and/or partnerships (within the last five years):
First Sentinel Corporate Finance Limited Allegiance Insure Limited
Omni Egis Ltd First Sentinel Investments Limited
Charlotte Street Resources plc NQ Minerals plc
Anodyne Investments plc Financial Strategic Associates Limited
New Leaf Capital Limited First Sentinel Carry Limited
Art By Stella Limited
International Financial Strategic Associates LTD First Sentinel Trustees Limited
Capable Finance Limited First Sentinel Wealth Limited
First Sentinel Perennial Limited
Maltbridge Consulting Limited
Guild Esports PLC
Capable Lending PLC
First Sentinel Corporate Services Limited
Connect X Capital Markets (UK) Limited
Kingbridge Capital LTD
MC (Charlotte Street) LTD
Dark Horse Family Office Limited
Brian Stockbridge directly holds 50,000,000 shares and indirectly holds
792,942,886 shares of the Company via his fully-owned companies.
There is no further information to be disclosed pursuant to Rule 4.9 of the
AQSE Growth Market Access Rulebook.
Upon Chandila Fernando and Judith Hough's appointment becoming effective,
Derek Lew will relinquish his role as CEO and Executive Director but remain on
the Board as Non-Executive Director. Jeremy Woodgate will remain on the Board
as Non-Executive Director.
For more information, please visit the Company's website at
https://pitchpit.ai/
The Directors of the Company take responsibility for this announcement.
Pitch Pit PLC
Jeremy Woodgate Via Alfred Henry
Alfred Henry Corporate Finance Ltd
Corporate Advisor
Nick Michaels, Maya Klein Wassink +44 (0) 20 3772 0021
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