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Hi Clenched. With regard to future start ups it all remains to be seen but my reading is that it would be through TEK as it is now and that they ve just hired off the advisory and recruitment part and created a separate business. Again we'll have to wait and see though

Isn't it a share percentage as opposed to a cash sum. Not quite the same as he won't sell, same as with his TEK stake.

Not defending him but it makes 0 difference imho to the TEK SP or the coffers.

Still think it's hard to argue with the fact they've somehow found a way to magic up £6.5 million minus the cash injection. Watch the loans between GenIP and TEK in the future and you'll get my drift. We've already seen that with lucy.

Not much more to say on this for now really. Think we've more or less done it to death with the info we have available

Good day all

Yes PBB

Reason for the share weakness over the last couple of weeks. It's very clear that at least part of the raise for GenIP will be through an existing shareholder. Should increase the probability that it will happen.

But I worked it out like you too so either Allied News or we are wrong. We'll have to wait and see

Allied News Coure. Tab at the top the left. CM. Yes. My bad

GenIP aims to start listing on October 2, targeting a raise of GBP1.5 million and anticipating a market capitalisation of GBP6.5 million on admission.

GenIP is a portfolio company of London-based intellectual property investor Tekcapital PLC, which positively noted the announcement.

Chair of GenIP is David Willetts, who is a non-executive director at Tekcapital and served as UK minister of state for Universities & Science from 2010 to 2014. He has been a member of the House of Lords since 2015.

The chief executive officer of GenIP is Melissa Calderon, and its chief financial officer is Kevin Fitzpatrick.

Tekcapital expects to own about 63% of the share capital of GenIP at the time of the IPO.

GenIP aims to start listing on October 2, targeting a raise of GBP1.5 million and anticipating a market capitalisation of GBP6.5 million on admission.

It's actually £4.225 million straight onto the mcap with £1.5 capitalisation to boot. Straight off proactive investors newsfeed

Yes and no Bads. (Termination of appointment of Bird & Bird Company Secretaries Limited as a secretary on 15 August 2024)...We don't know at this stage as to whether this is an existing business they have purchased or not but further details will be in the IPO prospectus of course. Not impossible that the 40 customers came with the business...who knows

Whatever you say, I'm happy they haven't got into something that s going to take 5 years and £5 million to get to IPO. I was pretty vocal on here about that and it hasn't panned out that way so okay with me. It would have been suicide to do otherwise.

Let's wait for further details and see where we are

Regards

GenIP I meant, but you knew that :)

It doesn't devalue TEK. The holdings will be held under a separate entity. It's still a new business using AI with any benefits that may bring. It sounds promising by the queue of customers that they have in waiting. Maybe some of these people have been employed directly by TEK for this purpose so that will be at a cost. They obviously view it as marketable and revenue generating. It will also have a value once floated so they can raise against the shares within AI gen if necessary going forward. Better than diluting TEK with it's holdings directly by issuing more TEK shares.

Personally. I like it and I think it will change the landscape as regards capital raises (famous last words I know !)

Pitched at a very reasonable 4.5/5 million as well and will hit the ground running with existing revenue so should start well

Totally Bads. This was the reason for the Reach notification a couple of months or so back . Core business doing well so why not make more of it. The threat of a raise has held the SP down over the last few months so this is good. Offers a way to fund everything gor up to a year? going forward. It'll take the market a while to work it out and we may not see real impact until the float but I expect they've already got suitors. Might even be some existing shareholders who've been tail swallowing. Explains a lot.

I see Cliff has fashioned a 7% personal stake in addition to his interest as a major shareholder in TEK. Did he work on this in his own free time, or would it not normally be expected for him to have done so in his CEO role with TEK? Talk about self interest before shareholder interest.

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Fair comment Clenched. As shareholders, if it keeps his eye on the ball and he makes it a winner...(as i mentioned before, good profit margin business) we'll just have to suck it up, but you're right.

Nicely done PBB. That's right.

If you check TEK Capital's website they are recruiting too. They are going to put their people in here imo. It's a spin off of TEK, owned (63%) by TEK and capitalised. This company will do what TEK already do but better.

Smart move

Https://www.investegate.co.uk/announcement/rns/tekcapital--tek/innovative-eyewear-launch-of-smart-safety-eyewear/8422911

These look pretty good too. I think they'll sell more of these than the retail stuff. Probably in bulk too. They were asked to make them after all if I remember rightl

Https://genip.ai

Very fresh looking website. Looks good. Analytical. Should have low overheads. In the right space, even a smilar field to what TEK already do.

I like it

Haha - That's what I thought. Out of the blue or what.

Interested to see how easy it is to buy in this morning. They've pulled that one out of the bag with the capital raise on IPO. It's a freebie really :)

Much better way of doing it this time around. It's a tiddler, worth a couple of million quid to TEK after float by the looks of it. Let's see where it goes. Another shot at stardom

Scramble

Potential to be a game changer.

I must admit I'm surprised it's gone down so well. Thought it might be a clue as to Q3 sales figures. If they come in strong then I reckon Lucy is on it s way and with such a tiny market cap it looks like it could multi-bag it's current market cap rapidly

17%. Enough to add value to the baseline if it really takes off