24 Oct 2016 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO, OR FROM ANY JURSIDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR")
24 October 2016
Arria NLG plc
("Arria NLG" or the "Company")
Financing update
Arria NLG (AIM: NLG), a leader in Artificial Intelligence and Natural Language Generation ("NLG"), is pleased to update that pursuant to the announcement made on 3 October 2016 regarding the subscription by investors of approximately £2.7 million of unsecured convertible loan notes ("Loan Notes") with C warrants attached, it has received £622,000 relating to those Loan Notes. The remaining funds are expected to be received in the coming weeks.
Subscribers to the Loan Notes receive two unlisted warrants to subscribe for new ordinary shares in the Company for each US$1.00 invested in the Loan notes, exercisable up to 11 June 2019, at 12p per new ordinary share (the "C Warrants"). Therefore, this tranche of Loan Notes results in the issue of 1,591,338 C Warrants.
For further information, please visit www.arria.com or contact:
Arria NLG plc - Chairman and Interim Chief Executive Sharon Daniels | Tel +44 (0)20 7100 4540 |
Allenby Capital (Nominated Adviser & Joint Broker) Nick Naylor Jeremy Porter James Reeve | Tel: +44 (0)20 3328 5656 |
MSL Capital Markets (Lead Manager) Andrew McDouall Justine Dunnett Peter Lynds | Tel: +64 (0)4 472 2716 |
Stockdale Securities (Joint Broker) Antonio Bossi Robert Finlay | Tel: +44 (0)20 7601 6100 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong | Tel: +44 (0)20 3053 8671 tim.metcalfe@investor-focus.co.uk graham.herring@investor-focus.co.uk heather.armstrong@investor-focus.co.uk |
Ruder Finn (PR USA) Scott Beaver (West Coast) Brianna Mulligan (East Coast) |
Tel: +1 541-326-5847 Tel: +1 203-246-1304 |
Arria NLG
Arria NLG's core product is known as the Arria NLG Platform, a form of artificial intelligence software, specialised in extracting information from complex data sources and communicating that information in natural language (i.e. as if written by a human). The scientific foundation for the Arria NLG Platform is based on more than 30 years of research and development by the Arria|Data2Text Founders at the University of Aberdeen. For additional information, visit www.arria.com. Follow Arria NLG on Twitter, LinkedIn, Google+ and YouTube.
NLG.L (NLG)