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18 Sep 2024 07:58
The information contained within this announcement is deemed by the Company (Companies House registration number 08873361) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
18 September 2024
Tekcapital Plc
("Tekcapital")
GenIP plc Files Schedule One with the London Stock Exchange
("GenIP" or the "Company")
Tekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating valuable companies from investing in university technologies that can improve people's lives, is pleased to announce that its portfolio company GenIP has proposed an initial public offering ("IPO") on the AIM Market. GenIP has filed a Schedule One Form (see link below) with the London Stock Exchange regarding its proposed IPO.
Schedule One - GenIP plc - 07:30:00 18 Sep 2024 - News article | London Stock Exchange
GenIP's mission is to empower organisations to better evaluate and commercialise their technology discoveries by providing Generative Artificial Intelligence (GenAI) enhanced research reports assessing market potential and by utilising GenAI executive recruitment services to match technology organisations with experienced executives and business leaders.
The Company harnesses the power of GenAI using its bespoke software, Invention Evaluator®, and through its executive recruitment platform, VortechsTM, which together the Company believes will enable better, faster and more affordable technology commercialisation and investment decisions. This dual approach provides companies, research institutions and venture funds with comprehensive support, combining technical expertise with GenAI models to cost-effectively mitigate adverse selection and commercialise new discoveries.
Dr. Clifford Gross, Executive Chairman of Tekcapital said:
"We are excited to announce the forthcoming IPO of GenIP plc. A product of Tekcapital's technology incubator, GenIP's Invention Evaluator and Vortechs have been instrumental in commercialising numerous technological innovations, allowing them to develop from a clean piece of paper to operating companies and listed spinouts. Now, having forged commercial relationships with leading research institutions and successfully launched revenue-generating GenAI analytics services, we believe the Company is well placed for the next chapter of its growth story as a stand-alone Company providing GenAI services to the wider market. The new services were launched in September 2024 whereupon the Company received orders for 40 analytical assessments and three executive search assignments.
We are also thrilled to have Lord David Willetts, the current Chair of the UK Space Agency serve as Non-executive Chair of GenIP and Dr. David Gann, Oxford Professor and former Chairman of the UK Atomic Energy Authority serve as Non-Executive Director."
The AIM IPO is anticipated to be completed in the next few weeks. Tekcapital Plc, through its subsidiary Tekcapital Europe Limited, on consummation of the IPO is expected to own ~63% of the share capital of GenIP with an anticipated raise of approximately £1.5m.
About Tekcapital Plc
Tekcapital® creates value from investing in new, university-developed discoveries that can enhance people's lives. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
About GenIP Plc
GenIP® provides generative artificial intelligence (GenAI) analytic services to help companies, research institutions and venture funds assess and commercialise new discoveries. GenIP combines expert human technical review with GenAI algorithms to provide insightful and verified services. To learn more about GenIP, please visit www.genip.ai (available as from Admission to AIM).
For further information about Tekcapital, please contact:
Tekcapital Plc | Via Flagstaff | |
Clifford M. Gross, Ph.D. | ||
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) | +44 (0) 20 3470 0470 | |
Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)
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Flagstaff Strategic and Investor Communications |
| +44 (0) 20 7129 1474 |
Tim Thompson/Andrea Seymour/Fergus Mellon | ||
LEI: 213800GOJTOV19FIFZ85
For further information regarding GenIP, please contact:
GenIP Plc Melissa Cruz, CEO | Via Redchurch Communications | |
Beaumont Cornish Limited (Nominated Adviser) | Roland Cornish Tel: +44 (0) 207 628 3396
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Novum Securities Limited (Broker) |
| Jon Belliss Tel: +44 (0)20 7399 9425 JBelliss@novumsecurities.com
|
Redchurch Communications (Financial PR)
LEI: 213800E6CFHS4IG69P89 | John Casey genip@weareredchurch.com
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