Malvern International plc (AIM: MLVN), the global learning and skills development partner, announces that, pursuant to the announcement of a Fundraising this morning, it has today, conditional on completion of the Fundraising, granted options to subscribe for 65,000,000 New Ordinary Shares exercisable at a price of 0.15p subject to performance conditions.
The options are exercisable after the third anniversary of Admission subject to certain performance conditions. Of the options awarded, 50 per cent. are exercisable subject to the Company's share price reaching 1.51 pence over 40 consecutive business days. The remaining 50 per cent. are exercisable subject to the Company's share price reaching 2.62 pence for over 40 consecutive business days.
Of the options awarded 32,000,000 have been granted to Sam Malafeh, Chief Executive Officer.
The grant of options to Mr Malafeh as a Director of the Company constitutes a related party transaction under the AIM Rules. The independent Directors (being Mark Elliott and Alan Carroll) consider, having consulted with WH Ireland, the Company's nominated adviser, that the terms of grant of the options to Mr Malafeh are fair and reasonable insofar as the shareholders of Malvern are concerned.
Again pursuant to the announcement of a Fundraising this morning, the Company also announces that, conditional on completion of the Fundraising, it has agreed to convert outstanding salaries and fees into New Ordinary Shares at a price of 0.15p to the following Directors:
· Mr Sam Malafeh (Chief Executive Officer) will receive 43,333,333 New Ordinary Shares;
· Mr Mark Elliott (Non-Executive Chairman) will receive 3,982,453 New Ordinary Shares; and,
· Mr Alan Carroll (Non-Executive Director) will receive 1,840,400 New Ordinary Shares.
Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released earlier today in respect of the Proposed Fundraising unless the context provides otherwise.
The tables appearing beneath the 'Enquiries' section below provide further details for each Director in accordance with the requirements of the EU Market Abuse Regulation
conic Labs Plc ("Iconic Labs" or the "Company") announces 'Beta' Infotagion Alexa Skill targeting a market of 3 billion devices
· Partnership to create Alexa Voice Skill has successfully reached 'Beta' Phase
· Intention to promote to market size of estimated 3 Billion Voice Assistant devices
· Iconic in further discussions with several other potential partners in different sectors
Iconic Labs Plc (LSE:ICON) (the "Company"), a multi-divisional new media and technology business today announces a new partnership to create Alexa answers to combat fake news.
Iconic Labs launched Infotagion with Damian Collins MP to detect fake news during the coronavirus outbreak. The platform has been a global success and has allowed the company to expand the operation.
Now, in partnership with FX Digital , an award- winning agency specialising in TV and Voice application development, it is hoped the new technology will expand the access to Infotagion. Currently there are estimated to be 3 billion voice assistants in use globally with approximately 82% of users using them to seek information.
The Infotagion Alexa Skill has already reached 'Beta' Testing Phase and a video of the skill at early concept stage is available to view. The voice skill development will now seek approval from Alexa before being formally launched.
John Quinlan, Chief Executive Officer of Iconic Labs, said: "Infotagion already has an excellent brand and bringing our platform further into people's homes is a great next step for us and our users. The development of this voice skill will be an important weapon in the fight against misinformation around coronavirus and we're looking forward to hopefully having this approved by Alexa as soon as possible.
In addition, the company has been approached by a number of potential partners looking to use Iconic Lab's data, insight, and marketing expertise in related areas to Infotagion. These include, both not for profit, and for-profit organisations including universities, enterprise software developers and medical technology companies. The company looks forward to updating the market with the progress of these plans."
The Company announced a few months ago that, in partnership with Damian Collins MP, former Chair of the Parliamentary Committee on Culture, Media and Sport, it had established a service to counter the dissemination of incorrect information, in particular through social media, that relates to the Covid-19 pandemic and its related economic and social effects.
The core of the service is a website (www.infotagion.co.uk ) on which users post screenshots of information which they have received from social media or elsewhere. The submitted information is checked by a team organised by Mr Collins, which includes experts from, inter alia, the WHO and Parliament.
TR1 will be interesting. Both SHELL and BA want in for 1/3rd of the stock and monies already given to the sum of £1 million. They will not be left out. Perhaps some II's or major holders will be juggled about to accomodate that too
British Airways and Shell have each now been granted an option to take a one-third share in the equity capital of Altalto Limited (a subsidiary of the Company) at a strike price of £1, as a pre-cursor to a full Shareholders' Agreement for Altalto Limited in due course.
With the severe lack of jobs in current climate and the state of the markets due to corona, I very much doubt anything here is priced in. New jobs and a scheme to convert waste to fuel. Just wait for some media coverage tonight too. Wont be seeing 4p prices tomorrow or this afternoon imo . remember simular story with SXX before it was screwed over