Insig Ai Plc Regulatory News (INSG)

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

10 November 2021

Insig AI

("Insig AI" or the "Company")

Insig AI appoints Colm McVeigh as Chief Commercial Officer

Insig AI plc (AIM:INSG), the data science and machine learning solutions company providing ESG solutions to the asset management industry, is pleased to announce that Colm McVeigh has joined the Company as Chief Commercial Officer. Following the satisfactory completion of standard due diligence and related checks, it is expected that Colm will join the board as an Executive Director.

Colm has held senior commercial roles in software and telecoms sectors with a strong track record of driving growth and business transformation. From 2016 until September 2021, Colm was the Chief Commercial Officer of BT One Phone, the mobile Cloud SaaS joint venture in which he led the commercial turnaround which resulted in a high multiple EBITDA minority interest sale valued at £320 million. Colm spent more than ten years at BT, having previously been part of its core BT Business due diligence team for BT Group's acquisition of EE Mobile and then led the commercial Integration of EE into BT Business.

Prior to BT Group, Colm spent seven years at Vodafone Group, initially as Enterprise Director and later as Global Director M2M (Mobile to Mobile) Smart Services, where he established Internet of Things as a global business model. Before then, Colm held senior commercial roles at Oracle Corporation.

Through the Company's existing share option scheme, Colm will be granted options over two million shares. In addition, Colm will be awarded warrants over 1.5 million shares at 100p a share, 1.5 million shares at 150p a share, 1.5 million shares at 200p a share and 1.5 million shares at 250p a share.

Steve Cracknell, Chief Executive of Insig AI, commented: "I'm delighted that someone of Colm's calibre and experience has joined us to help spearhead our commercial strategy Colm will take responsibility for setting the direction of our aggressive growth plan, brand positioning, proposition development and differentiation, and sales channel execution."

Colm McVeigh commented: "Having spent the last month with the team, I'm pleased to be part of such an exciting business with enormous growth potential."

For further information, please visit www.insg.ai, or contact: