REG - Tekcapital plc - GenIP plc Schedule One

TekcapitalAnnouncement

18/09/2024 08:00

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RNS Number : 6650E  Tekcapital plc  18 September 2024

The information contained within this announcement is deemed by the Company
(Companies House registration number 08873361) to constitute inside
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    18 September 2024

Tekcapital Plc

("Tekcapital")

 

GenIP plc Files Schedule One with the London Stock Exchange

("GenIP" or the "Company")

 

Tekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group
focused on creating valuable companies from investing in university
technologies that can improve people's lives, is pleased to announce that its
portfolio company GenIP has proposed an initial public offering ("IPO") on the
AIM Market. GenIP has filed a Schedule One Form (see link below) with the
London Stock Exchange regarding its proposed IPO.

Schedule One - GenIP plc - 07:30:00 18 Sep 2024 - News article | London Stock
Exchange
(https://www.londonstockexchange.com/news-article/market-news/schedule-one-genip-plc/16671242)

GenIP's mission is to empower organisations to better evaluate and
commercialise their technology discoveries by providing Generative Artificial
Intelligence (GenAI) enhanced research reports assessing market potential and
by utilising GenAI executive recruitment services to match technology
organisations with experienced executives and business leaders.

 

The Company harnesses the power of GenAI using its bespoke software, Invention
Evaluator®, and through its executive recruitment platform, Vortechs(TM),
which together the Company believes will enable better, faster and more
affordable technology commercialisation and investment decisions. This dual
approach provides companies, research institutions and venture funds with
comprehensive support, combining technical expertise with GenAI models to
cost-effectively mitigate adverse selection and commercialise new discoveries.

 

Dr. Clifford Gross, Executive Chairman of Tekcapital said:

 

"We are excited to announce the forthcoming IPO of GenIP plc. A product of
Tekcapital's technology incubator, GenIP's Invention Evaluator and Vortechs
have been instrumental in commercialising numerous technological innovations,
allowing them to develop from a clean piece of paper to operating companies
and listed spinouts. Now, having forged commercial relationships with leading
research institutions and successfully launched revenue-generating GenAI
analytics services, we believe the Company is well placed for the next chapter
of its growth story as a stand-alone Company providing GenAI services to the
wider market.  The new services were launched in September 2024 whereupon the
Company received orders for 40 analytical assessments and three executive
search assignments.

 

We are also thrilled to have Lord David Willetts, the current Chair of the UK
Space Agency serve as Non-executive Chair of GenIP and Dr. David Gann, Oxford
Professor and former Chairman of the UK Atomic Energy Authority serve as
Non-Executive Director."

 

The AIM IPO is anticipated to be completed in the next few weeks. Tekcapital
Plc, through its subsidiary Tekcapital Europe Limited, on consummation of the
IPO is expected to own ~63% of the share capital of GenIP with an anticipated
raise of approximately £1.5m.

 

About Tekcapital Plc

Tekcapital(®) creates value from investing in new, university-developed
discoveries that can enhance people's lives. Tekcapital is quoted on the AIM
market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in
the UK. For more information, please visit www.tekcapital.com
(http://www.tekcapital.com/) .

 

About GenIP Plc

GenIP(®) provides generative artificial intelligence (GenAI) analytic
services to help companies, research institutions and venture funds assess and
commercialise new discoveries. GenIP combines expert human technical review
with GenAI algorithms to provide insightful and verified services. To learn
more about GenIP, please visit www.genip.ai (http://www.genip.ai) (available
as from Admission to AIM).

 

For further information about Tekcapital, please contact:

 

 Tekcapital Plc                                                                                          Via Flagstaff
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                                          +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)
 Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees
 (Corporate Broking)

 Flagstaff Strategic and Investor Communications                                                         +44 (0) 20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon

LEI: 213800GOJTOV19FIFZ85

 

 

For further information regarding GenIP, please contact:

 

 GenIP Plc                                                               Via Redchurch Communications

 Melissa Cruz, CEO

 Beaumont Cornish Limited (Nominated Adviser)                            Roland Cornish

                                                                         Tel:  +44 (0) 207 628 3396

 Novum Securities Limited (Broker)                                       Jon Belliss

                                                                         Tel: +44 (0)20 7399 9425

                                                                         JBelliss@novumsecurities.com

 Redchurch Communications (Financial PR)                                 John Casey

                                                                         genip@weareredchurch.com

 LEI: 213800E6CFHS4IG69P89

 

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