REG - StreaksAI PLC - Change of Board Composition

StreaksaiAnnouncement

29/08/2023 07:00

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RNS Number : 5464K  StreaksAI PLC  29 August 2023

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.

 

29 August 2023

 

StreaksAI PLC

 

("StreaksAI" or "the Company")

 

Change of Board Composition & Issue of Equity and Warrants

 

StreaksAI (LSE: STK), a UK-based provider of AI-focused conversational gaming
"Streaks Gaming" and the newly announced Social AI platform for influencers
"Streaks Social", is delighted to announce the appointment of Philip Blows as
Chief Executive Officer with immediate effect.

 

Phil has been Executive Director of StreaksAI since 20 February 2023. With the
impending launch of StreaksAI's social AI platform for influencers, Streaks
Social, the Company will benefit greatly from Phil's experience in building
and scaling multiple retail-focused platforms, including his previous
positions as CEO of AQRU PLC, which owned and operated a cryptocurrency retail
trading application, and as Director of Wealth Wizards, a UK-based robo-advice
platform.

 

Mark Rutledge, who has been Chief Executive Officer throughout the IPO period
and the launch of StreaksAI, will become Non-Executive Director of StreaksAI
with immediate effect. The Board of Directors would like to thank Mark for all
his efforts as Chief Executive of the Company and for providing a solid
operating platform on which to build.

 

Issue of Equity

 

StreaksAI also announces the issue of 420,000 Ordinary Shares of £0.001 per
share ("Ordinary Shares") (the "Fee Shares") in respect of the commission due
to Tennyson Securities in relation to services rendered to the Company. The
Fee Shares have been issued at an issue price equivalent to £0.03 per Share.
The Fee Shares rank pari passu with existing shares in issue.

 

Issue of Warrants

 

The Company has also granted Tennyson Securities 420,000 warrants to subscribe
for new Ordinary Shares ("Warrants") pursuant to the engagement letter with
Tennyson Securities. The Warrants have a strike price of £0.03 and expire on
4 January 2028.

 

Admission

 

Application will be made to the Financial Conduct Authority ("FCA") for
admission of the Fee Shares to the standard listing segment of the Official
List and to the London Stock Exchange (the "LSE") for admission to trading of
the Fee Shares on the LSE's Main Market for listed securities (together
"Admission"). It is expected that Admission will take place at or around 8.00
a.m. on 1 September 2023.

 

Following Admission, the Company's issued share capital will consist of
378,732,535 Ordinary Shares with voting rights. The Company does not currently
hold any Ordinary Shares in treasury.

 

This figure, 378,732,535, 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
DTR.

 

Philip Blows, Chief Executive Officer of StreaksAI, commented: "I'm delighted
to be appointed as CEO at such an exciting point in the Company's development,
following the launch of our groundbreaking Streaks Socials product. Artificial
intelligence is revolutionising communication, and StreaksAI is allowing
influencers to communicate in their distinctive styles with their fans, whilst
simultaneously providing fans with personalised interactions. I am looking
forward to building a strong business for our customers and delivering
long-term value for our shareholders, as we work to redefine the frontiers of
AI in the social and gaming domains."

 

For further information please contact:

 StreaksAI PLC
 Mike Edwards                        via First Sentinel

                                     +44 203 989 2222

 Non-Executive Chairman
 Tennyson Securities
 Corporate Broker

 Peter Krens                         +44 207 186 9030
 First Sentinel
 Corporate Broker

 Brian Stockbridge                   +44 203 989 2200
 Tancredi Intelligent Communication
 Media Relations

 Helen Humphrey                      +44 744 922 6720

 Charlie Hobbs                       +44 7897 557112

 Jasmine Gadhavi                     +44 7931 435236

 stai@tancredigroup.com

 

About Streaks:

StreaksAI PLC is a provider of AI based conversational technologies. The
Company offers two core products in the gaming and conversational AI space.

 

For more information on the Conversational Gaming AI product, please
visit www.playstreaks.com (http://www.playstreaks.com/) .

 

For more information on the Conversational AI product, please
visit www.streaks.ai (http://www.streaks.ai/) .

 

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