RE: Where's the RNS12 Apr 2019 08:46
High Growth Capital PLC
12 April 2019
12 April 2019
High Growth Capital plc
("HGC" or the "Company")
Increase in holding in Sentiance;
Option to Acquire Majority Holding in Sentiance and Issue of Warrants
Highlights:
-- HGC to increase its overall equity holding in Sentiance NV ("Sentiance"), the international AI, machine learning, data science and behavioral change company, to 15.0%;
-- Consortium of new independent family offices and investors who have participated in the financing of the arrangements to become shareholders in HGC;
-- HGC to enter into a follow-up Acquisition Option relating to acquisition of majority stake in Sentiance; and
-- Short-term warrants issued to subscribe for 1.0bn HGC shares at a price of 2.5 pence per share.
Commenting on today's announcements, Jens Zimmermann Chairman of HGC said; "We have a bold vision that the current digital, proprietary content, human connectivity landscape will change fundamentally in the years to come. HGC is going to play a pivotal role in this positive and much needed transformation. Sentiance is a down to earth agile global organisation. Its distinct DNA, proprietary technology, Tier I clients and proven skill sets combined with their pragmatic forward roadmap are all first class."
Toon Vanparys, CEO of Sentiance said: "We expect to further accelerate our growth and extend our position as a global market leader in AI driven motion intelligence solutions in the mobility, health and O2O industries. The incremental investment in our proprietary behavioural change expertise will deliver enhanced end to end solutions to our clients and our partners enabling them to create highly personalised and bespoke services and products for their users. A number of recent high-profile client wins further validate this approach. Based on the interactions we have with HGC and our new investor teams, our near term objectives will result, once fully implemented, in a long lasting mutually beneficial outcome for all stakeholders."
In principle acquisition of additional Sentiance shares
HGC is pleased to announce that agreement has been reached in principle to acquire an additional 5.0% of the current issued share capital in Sentiance. Following the completion of the acquisition (which is expected to take place shortly and will be confirmed by RNS announcement), HGC will own 15.0% of the current equity share capital of Sentiance, comprised of 13,333 ordinary Sentiance shares and 1 Sentiance Warrant which for the exercise sum of EUR1.00 can be converted into an additional 1,000 ordinary Sentiance shares within 5 years of issue by the Company upon exit.
The consideration of GBP7,000,000 will be settled in full through the issue of 875,000,000 ordinary shares in the Company at a price of 0.80 pence credited as fully paid to a number of independent family offices and investors, including RRNB Capital Ltd ("RRNB"), who have participated in the financing of the arrang
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