REG - Substrate Artificial Substrate AI-Class B - Results of reserve for share premium distribution

Substrate Artificial Inteligence SAAnnouncement

07/11/2024 17:00

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RNS Number : 4216L  Substrate Artificial Inteligence,SA  07 November 2024

 

7 November 2024

 

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

 

Results of reserve for share premium distribution

 

Substrate AI (AQUIS: SAI/SAI.B) announces that, as per the resolution passed
in the Extraordinary General Meeting of shareholders on 26 July 2024, it was
agreed the distribution of the reserve for share premium in kind in a maximum
amount of €1,500,000 through the delivery of ordinary shares of the share
capital of the wholly-owned subsidiary Subgen AI Limited ("Subgen AI"), or
alternatively, the cash payment equivalent to the proposed share premium
reserve distribution in kind, at the choice of the shareholders (the
"Distribution").

In accordance with the procedure established to carry out the Distribution as
communicated to the market and in response to the communications received from
the shareholders, the results of the Distribution are as follows:

Of the class A shares, the shareholders who have responded account for 99.43%
of the class A shares, of which 93.94% have chosen the payment of premium in
kind in Subgen AI shares, and the remaining 6.06% the payment in cash.

As for the Class B shares, the shareholders who have responded are equivalent
to 99.85% of the Class B shares, of which 100% have chosen the payment of
premium in kind in Subgen AI shares.

The Company will therefore distribute to the shareholders of the Company
entitled to participate in the Distribution: (i) a total of 115,276,486 shares
of Subgen AI, representing 76.85% of its share capital, the remainder being
held by the Company (i.e., 34,721,456 shares of Subgen AI, representing 23.15%
of its share capital); and (ii) a total of 80,421.47 euros.

The Directors of Substrate AI accept responsibility for this announcement.

 

For further information, please contact:

 Substrate AI
 Lorenzo Serratosa                     info@substrate.ai (mailto:info@substrate.ai)

 Chairman
 First Sentinel Corporate Finance

 Corporate Advisors
 Brian Stockbridge                     +44 (0) 7858 888 007

 

About Substrate AI: Substrate AI is an artificial intelligence company based
in Spain that creates, buys and scales companies around AI in diverse sectors
such as fintech, agritech, energy, human resources, or health. All of them
sell products and services built on the bio-inspired reinforced learning
technology developed and patented by Substrate AI.

 

 

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