REG - Cykel AI PLC - Admission to Trading on the AQSE Growth Market

TP IcapAnnouncement

25/10/2023 08:15

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RNS Number : 1427R  Cykel AI PLC  25 October 2023

25 October 2023

Cykel AI plc

 
("Cykel AI" or the "Company")

 
Admission to Trading on the AQSE Growth Market

 

First day of dealings

 

Cykel AI (AQSE: CYK) is pleased to announce that admission of its ordinary
shares of £0.001 par value ("Ordinary Shares") to trading on the Access
segment of the Aquis Stock Exchange ("AQSE") will take place and dealings will
commence at 8.00 a.m., 25 October 2023 ("Admission"), under the ticker CYK and
ISIN number GB00BPTJZN05.

 

The commencement of trading of the Company's Ordinary Shares follows a
successful subscription and placing by Clear Capital Markets for a total of
58,333,350 Ordinary Shares at 3p per Ordinary Share, raising gross proceeds of
£1,750,000.50 (before expenses).

 

On Admission, the Company will have 205,183,350 Ordinary Shares in issue and
the market capitalisation of the Company will be approximately £6,155,500.

 

Jonathan Bixby, Co-Founder and Executive Chairman at Cykel AI, said:

 

"Cykel AI is building a Natural Language Processing (NPL) technology that
takes both spoken and typed requests from humans and performs tangible digital
actions. Its machine learning model will seamlessly engage with all facets of
the user's computer environment.

 

Cykel AI will use the power of AI technologies to transform business processes
by making mundane digital tasks such as filling digital forms, managing work
tools like spreadsheets or booking meetings and holidays infinitely quicker
and easier. Where AI is the 'brain', Cykel AI will be the 'hands' that will
make performing tasks in the digital world quicker and easier.

 

The demand for our IPO exceeded our expectations, raising some £1,000,000
more than our target. We would like to thank our new shareholders for joining
us on this exciting journey to capitalise on the huge opportunity that AI
technology presents", continued Bixby.

 

Clear Capital Markets and First Sentinel acted as joint brokers to the
Company, with First Sentinel acting as Corporate Adviser.

 

About Cykel AI

 

Cykel AI is a software business developing advanced artificial intelligence
("AI") products, intending to offer these to businesses and consumers through
a "software as a service" (SaaS) model. The Company is developing a machine
learning model that seamlessly engages with all facets of the user's computer
environment.

 

The model will be trained to harness the capabilities of all existing software
tools, application programming interfaces (APIs), and web-based applications,
a novel methodology for task execution, translating user objectives
articulated in plain language into tangible actions executed within their
daily software applications. The Company's software is intricately designed
and trained to execute commands in response to natural language directives,
specifically within the realm of computer interfaces.

 

The Company's admission document is available to view on its website
https://www.cykel.ai/ (https://www.cykel.ai/)

 

The directors of Cykel AI plc accept responsibility for this announcement.

 
For further information please contact:

 

 Cykel AI plc

 Jonathan Bixby       Via First Sentinel

 First Sentinel (Corporate Adviser)

 Brian Stockbridge    brian@first-sentinel.com (mailto:brian@first-sentinel.com)

  

                      +44 (0) 20 3855 5551
 Clear Capital Markets (Broker)

 Bob Roberts          +44 (0) 20 3869 6080
 Nominis Advisory (PR Adviser)
 Angus Campbell       angus@nominis.co (mailto:angus@nominis.co)

 

 

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