Today 07:00
30 June 2026
Pri0r1ty Intelligence Group PLC
("Pri0r1ty", the "Company" or the "Group")
Interim Results for the Six Months Ended 31 March 2026
Pri0r1ty Intelligence Group PLC (AIM: PR1, OTC: PRIAF), the AI focused business delivering growth solutions to SMEs, announces its interim results for the six months ended 31 March 2026 ("H1 26" or the "Period") which are available on the Company's website, https://www.pri0r1ty.com/.
Summary
● H1 26 revenue of £359,580 up from £37,000 in the corresponding period last year
● Over 200 paying platform users now using Pri0r1ty products
● Expanded into new sectors through customer wins including Untamd (premium retail and luxury goods), World Aquatics (international sport), and Love Mondays (workplace wellbeing) alongside expanded product utilisation with Aston Villa Football Club, Leukaemia Care and 58 UK racecourses via the Racecourse Association and Great British Racing
● Growth reflects the roll-out of core AI products Advisor, Fan Sonar, and Vox alongside Compass ID which was acquired with Halfspace.
● Launched Vox, the Group's AI-powered multilingual voice agent, securing an initial commercial deployment with The Property Buying Company
Post H1 26
● Strengthened the Board with the appointment of Daniel Gee (co-founder of Pri0r1ty AI) as a Director of the Company in the role of Chief Technology Officer
● Secured £1.25 million of growth funding post-Period end through a convertible loan note facility, supporting ongoing operations and providing the runway necessary for the business to become cash flow positive
● Entered a strategic partnership with the Sport & Recreation Alliance to launch SportTower.ai, a platform offering the Group's core AI products to over 300 organisations across the UK sports sector
● The Group continues track towards achieving its objective of cash flow positivity in FY 27, with a target to exceed 500 paying platform users
Marcus Yeoman, Chairman of Pri0r1ty, commented:
"The momentum achieved in H1 26 reflects the strength of our AI-led growth strategy and the scaling of our proprietary AI SaaS products via three integrated specialist opcos. Each of these is focused on a dedicated sector vertical to drive market share across the five million UK SMEs - a market with significant scope for customer data solutions. We've significantly grown our paying user base to more than 200, expanded our customer base, and launched innovative new products, delivering strong commercial progress across all divisions. We entered the second half of the financial year with real confidence in our trajectory, targeting more than 500 paying platform users and cash flow positivity in the next financial year."
For further information, please contact:
Pri0r1ty Intelligence Group PLC
Rory Maxwell, Chief Executive Officer
Email: ir@pri0r1ty.com
Tel: +44 (0)20 8064 3554
Nominated Adviser
Beaumont Cornish Limited
James Biddle / Roland Cornish
Tel: +44 (0)20 7628 3396
Joint Broker
Allenby Capital Limited
Kelly Gardiner / Jeremy Porter
Tel: +44 (0)20 3328 5656
Joint Broker
Oak Securities
Hugh Rich / Mungo Sheehan
Tel: +44 (0) 20 3973 3678
Joint Broker
Bowsprit Partners Limited
James Sheehan / Luis Brime
+44 (0)203 883 4430
Investor Relations
Vigo Consulting
Ben Simons / Amelia Thorn / Georgina Moul
Email: PR1@vigoconsulting.com
Tel: +44 (0)20 7390 0230
About Pri0r1ty Intelligence Group PLC
Pri0r1ty Intelligence Group (AIM: PR1, OTC: PRIAF) is a data, AI, and marketing services group. Our mission is to unlock engagement at scale for customer-centric organisations through a suite of tools that are uniquely trained on the client's data. We operate three revenue-generating divisions:
Halfspace - a multi award winning data-led marketing and growth solutions business focused on the sports sector, whose customers have included Premier League football clubs, motorsports teams, sports leagues, national governing bodies, sporting federations, digital media businesses, and direct-to-consumer platforms.
Pri0r1ty - an AI Software-as-a-Service (SaaS) platform which enables SMEs to streamline operations. Pri0r1ty also offers AI consultancy services.
Metr1c - a brand partnerships and growth solutions business for the entertainment sector which uses AI and data to grow revenues and engagement with fans. Metr1c's customers have included The Brits and Sony, Celtic FC, Scottish Golf and Favela Cerveja.
If you would like to explore how Pri0r1ty can help drive time and cost efficiency for your business, please contact plc@pri0r1ty.com.
Website: https://www.pri0r1ty.com/
LinkedIn: https://www.linkedin.com/company/pri0r1ty-ai-plc/
X: https://x.com/WearePri0r1ty
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK 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.
Nominated Adviser Statement
Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other person for providing the protections afforded to customers of Beaumont Cornish nor for advising them in relation to the transaction and arrangements described in the announcement or any matter referred to in it.
CHAIR'S STATEMENT
FOR THE SIX MONTHS ENDED 31 MARCH 2026
Introduction
I am pleased to present the financial statements of Pri0r1ty Intelligence Group PLC for the six months ended 31 March 2026 ("H1 26" or the "Period"). This statement follows just a few weeks after the last annual report. Following the momentum established in FY 25, Pri0r1ty entered the current financial year with a strengthened operating model, a growing customer base and an expanding AI SaaS product suite. This momentum translated into meaningful contracted revenue growth during the Period, underpinned by contract wins across sports, retail and property as the Company advanced into new sectors.
On behalf of the Board, I would like to thank stakeholders for their continued support as we execute on our strategy to become a leading AI data and growth solutions business for the SME sector.
Key commercial developments in H1 26
The Period saw a significant expansion of the Group's contract base across existing clients and new sectors. In November 2025, Metr1c, the Group's brand partnerships agency, signed a contract with Untamd, the UK-based sustainable jewellery brand, to provide data-led growth marketing services and AI tools to drive customer acquisition in the premium jewellery category. This marked the Group's first entry into the premium retail and luxury goods sector.
During the same period, Halfspace, the Group's data-led marketing and growth solutions business, extended its global footprint and presence in sport through a contract with World Aquatics, the international governing body for aquatic sports, which is using Fan Sonar and Compass ID to strengthen its commercial and marketing returns. Also, during the Period, the Group secured a contract with Love Mondays, a workplace wellbeing platform, demonstrating the growing applicability of our solutions across diverse SME sectors.
In February 2026, the Group launched Vox, the AI-powered multilingual voice agent designed to automate inbound and outbound customer interactions. Vox supports 28 languages including English and integrates directly with CRM systems to enable real-time updates and workflow automation. The launch was supported by an initial commercial contract with The Property Buying Company, a leading UK cash buyer of property, which is expected to generate approximately 10,000 calls within the first month of operation.
Financial summary
H1 26 has been an encouraging period commercially, reflecting the progress being made across the Group's three operating divisions.
During the Period, the Group grew revenue to £360k for the six months up from £40k the prior corresponding period, demonstrating increasing customer adoption and demand for the Group's AI and growth solutions. In accordance with the Company's revenue recognition policy (in accordance with IFRS 15), only that revenue booked during the period has been reflected in the revenue recognised during the period. The number of paying users increased to over 200 during the Period, further evidence of growing commercial traction across the Group's product suite. With a growing base of recurring customers, the Board believes the Group remains well positioned to continue scaling revenues and progress towards cash flow positivity.
Board Changes
Post Period-end, in June 2026, the Company announced the appointment of Daniel Gee, co-founder of Pri0r1ty AI, as a Director and Chief Technology Officer.
Post Period-End
Since the Period-end, the Group has reached a number of significant milestones. Earlier this month, the Company agreed an unsecured convertible loan note ("CLN") of £1.25 million with funds managed by Yorkville Advisors Global, LP, alongside an At-The-Market facility with Global Investment Strategy UK Limited, arranged through our newly appointed broker Bowsprit Partners Limited. The proceeds which have now been received, this will support working capital and fund the Group's go-to-market strategy, sales growth, and continued product development across its three core offerings. This funding underpins the Group's confidence in reaching cash flow positivity, providing the runway needed to deliver on our growth strategy.
In June 2026, Halfspace also announced a partnership with the Sport & Recreation Alliance, the representative body for UK national sports organisations, to launch SportTower.ai - a new platform consolidating the Group's Advisor, Fan Sonar, Vox and Compass ID tools for the sports and recreation sector. This is further evidence of the commercial momentum building in the Group's sports division.
Outlook
The Board is encouraged by the progress made during H1 26. The user base has significantly increased, and the Group now offers a broader and more scalable product suite.
With a strengthened balance sheet following post-Period funding and a growing pipeline of opportunities, the Group is well positioned to accelerate growth in the second half and progress towards its target of more than 500 product users and cash flow positivity during FY 27.
I look forward to updating shareholders further as the Group continues to execute on its strategy.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 31 MARCH 2026
| |||||
| Notes | Unaudited 6 months to 31 March 2026 |
| Unaudited 6 months to 31 March 2025 |
|
|
| £ |
| £ |
|
Revenue | |||||
Revenue from continuing operations | 3 | 359,580 | 37,000 | ||
Other revenue | - | ||||
Total revenue | 359,580 |
| 37,000 | ||
Cost of Sales | (142,168) | - | |||
Gross profit | 217,412 |
| 37,000 | ||
Other expenses | (983,322) | (570,436) | |||
Depreciation | (34,059) | - | |||
Amortisation | (100,562) | - | |||
Costs associated with listing | - | (326,831) | |||
Operating loss |
| (900,531) |
| (860,267) | |
Other income | 19,870 | - | |||
Interest expenditure | 2,012 | - | |||
Loss on ordinary activities before taxation |
| (878,649) |
| (860,267) | |
Income tax | 11,640 | - | |||
Loss on ordinary activities after taxation | (867,009) |
| (860,267) | ||
| |||||
Other comprehensive income |
|
|
|
| |
Revaluation of cryptocurrency | (8,827) | - | |||
Total other comprehensive loss for the period | (875,836) |
| (860,267) |
| |
|
|
|
|
| |
Earnings per share (basic and diluted) attributable to the equity holders (pence) | 2 | (0.48) | (1.51) | ||
The consolidated statement of comprehensive income has been prepared on the basis that all operations are continuing operations.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
| |||
| Notes | Unaudited As at 31 March 2026 | Audited As at 30 September 2025 |
|
| £ | £ |
NON-CURRENT ASSETS | |||
Intangible asset (Cryptocurrency) | 24,976 | 38,827 | |
Intangible asset | 4 | 1,752,509 | 1,891,897 |
Right of use asset | 133,330 | 167,389 | |
TOTAL NON-CURRENT ASSETS | 1,910,815 | 2,059,286 | |
CURRENT ASSETS |
|
|
|
Trade and other receivables | 137,826 | 264,481 | |
Cash and cash equivalents | 47,606 | 796,360 | |
TOTAL CURRENT ASSETS | 185,432 | 1,060,841 | |
TOTAL ASSETS | 2,096,247 | 3,120,127 | |
NON-CURRENT LIABILITIES | |||
Lease liability - Non Current | 17,322 | 154,727 | |
Deferred tax liability | 115,215 | 143,437 | |
TOTAL NON-CURRENT LIABILITIES | 132,537 | 298,164 | |
|
| ||
CURRENT LIABILITIES |
|
| |
Trade and other payables | 606,516 | 685,989 | |
Contingent consideration payable | 846,154 | 846,154 | |
Borrowings - Current | 10,680 | 33,392 | |
Lease Liability -Current | 27,755 | 37,369 | |
Deferred tax liability- Current | 136,082 | 6,700 | |
TOTAL CURRENT LIABILITIES | 1,627,187 | 1,609,604 | |
TOTAL LIABILITIES | 1,759,724 | 1,907,768 | |
|
|
| |
NET ASSETS | 336,523 | 1,212,359 | |
EQUITY | |||
Called up share capital | 537,572 | 537,572 | |
Share premium account | 13,574,019 | 13,574,019 | |
Reverse Acquisition reserve | (3,091,060) | (3,091,060) | |
Revaluation reserve | - | 8,827 | |
Share based payment reserve | 1,105,104 | 1,105,104 | |
Retained deficit | (11,789,112) | (10,922,103) | |
TOTAL EQUITY | 336,523 | 1,212,359 | |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 31 MARCH 2026
| |||||||
Audited | Issued Share Capital | Share Premium | Retained Earnings | Share based payments reserve | Revaluation reserve | RTO Reserves | Total Equity |
| £ | £ | £ | £ | £ | £ | £ |
As 1 October 2024 | 214,160 | 1,246,300 | (594,436) | - | - | - | 866,024 |
|
|
|
|
|
|
|
|
Loss for the period | - | - | (10,327,667) | - | - | (10,327,667) | |
Other comprehensive income | - | - | - | - | 8,827 | - | 8,827 |
Total comprehensive loss for the year | - | - | (10,327,667) | - | 8,827 | - | (10,318,840) |
Recognition of PLC equity at acquisition date | 54,000 | 941,522 | - | 247,500 | - | (1,059,143) | 183,879 |
Remove share capital of PAI | (214,160) | (1,246,300) | - | - | - | 1,460,460 | - |
Issue of shares for acquisition of subsidiary | 262,154 | 10,304,000 | - | - | - | (10,531,406) | 34,748 |
Share based payment for RTO | - | - | - | - | - | 7,039,029 | 7,039,029 |
Shares issued during the year | 221,418 | 2,642,382 | - | - | - | - | 2,863,800 |
Share issue costs | - | (313,885) | - | - | - | - | (313,885) |
Warrants issued | - | - | - | 857,604 | - | 857,604 | |
Total transactions with owners | 323,412 | 12,327,719 | - | 1,105,104 | - | (3,091,060) | 10,665,175 |
As at 30 September 2025 | 537,572 | 13,574,019 | (10,922,103) | 1,105,104 | 8,827 | (3,091,060) | 1,212,359 |
Unaudited | Issued Share Capital | Share Premium | Retained Earnings | Share based payments reserve | Revaluation reserve | RTO Reserves | Total Equity |
| £ | £ | £ | £ | £ | £ | £ |
As at 30 September 2025 | 537,572 | 13,574,019 | (10,922,103) | 1,105,104 | 8,827 | (3,091,060) | 1,212,359 |
|
|
|
|
|
|
|
|
Loss for the period | - | - | (867,009) | - | - | - | (867,009) |
Other comprehensive income | - | - | - | - | (8,827) | - | (8,827) |
Total comprehensive loss for the year | - | - | (867,009) | - | (8,827) | - | (875,836) |
Shares issued during the year | - | - | - | - | - | - | - |
Share issue costs | - | - | - | - | - | - | - |
Warrants issued | - | - | - | - | - | - | - |
Total transactions with owners | - | - | - | - | - | - | - |
As at 31 March 2026 | 537,572 | 13,574,019 | (11,789,112) | 1,105,104 | - | (3,091,060) | 336,523 |
CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE 6 MONTH PERIOD ENDED 31 MARCH 2026
|
|
|
|
|
| Unaudited 6 months ending 31 March 2026 |
| Unaudited 6 months ending 31 March 2025 | |
| £ |
| £ | |
Cash from operating activities | ||||
Loss for the Period | (878,649) | (860,267) | ||
Adjustments for: | ||||
Share based payments | - | 27,980 | ||
Depreciation | 34,059 | - | ||
Amortisation | 100,562 | - | ||
Operating cashflow before working capital movements | (744,028) | (832,287) | ||
Increase in trade and other receivables | 126,656 | (179,073) | ||
Increase / (Decrease) increase in trade and other payables | (73,375) | (37,744) | ||
Net cash used in operating activities |
| (690,747) |
| (1,049,104) |
| ||||
Cash from financing activities | ||||
Net Proceeds on the issue of shares | - | 872,124 | ||
Repayment of borrowings | (58,007) | - | ||
Net cash (used in)/from financing activities |
| (58,007) |
| 872,124 |
Cash from investing activities | ||||
Payments for intangible asset | - | (50,000) | ||
Cash from acquisition | - | 25,270 | ||
Net cash used in investing activities |
| - |
| (24,730) |
Net (decrease) / increase in cash and cash equivalents | (748,754) | (201,710) | ||
Cash and cash equivalents at beginning of year | 796,360 | 579,250 | ||
Cash and cash equivalents at end of period | 47,606 |
| 377,540 | |
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 6 MONTHS ENDED 31 MARCH 2026
1. GENERAL INFORMATION
The condensed consolidated interim financial statements of Pr1or1ty Intelligence Group (the "Company") and its subsidiary (together the "Group") for the six-month period ended 31 March 2026 have been prepared in accordance with Accounting Standard IAS 34 Interim Financial Reporting.
The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 September 2025 which was prepared in accordance with UK adopted International Accounting Standards (IFRS) and the Companies Act 2006, and any public announcements made by Pr1or1ty Intelligence Group plc during the interim reporting period and since.
These condensed consolidated interim financial statements do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. The Group's statutory financial statements for the year ended 30 September 2025 prepared under IFRS have been filed with the Registrar of Companies. The auditor's report on those financial statements was unqualified and did not contain a statement under Section 498(2) of the Companies Act 2006. These condensed interim financial statements have not been audited.
Basis of preparation - going concern
The interim consolidated financial statements have been prepared under the going concern assumption, which presumes that the Group will be able to meet its obligations as they fall due for the foreseeable future.
The Directors have made an assessment of the Group's ability to continue as a going concern and are satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group, therefore, continues to adopt the going concern basis in preparing its consolidated financial statements.
The financial information of the Group is presented in British Pounds Sterling (£).
Accounting policies
IAS 8 requires that management shall use its judgement in developing and applying accounting policies that result in information which is relevant to the economic decision-making needs of users, which are reliable, free from bias, prudent, complete and represent faithfully the financial position, financial performance and cash flows of the entity.
The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.
Critical accounting estimates and judgements
The preparation of interim consolidated financial information requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and the reported amounts of income and expenses during the reporting period. Although these estimates are based on management's best knowledge of current events and actions, the resulting accounting estimates will, by definition, seldom equal related actual results.
In preparing the interim financial information, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the financial statements for the year ended 30 September 2025.
1.1. NEW AND AMENDED STANDARDS ADOPTED BY THE GROUP.
A number of new or amended standards became applicable for the current reporting period. These new/amended standards do not have a material impact on the Group, and the Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these standards.
The Group is not affected materially by the effects of seasonality. Regardless of this fact comparative figures to the period ending 30 March 2025 have been included for comparability and increase the comprehensibility of the financial statements.
The directors have concluded that there are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
2. EARNINGS PER SHARE
The calculation of the basic and diluted earnings per share is calculated by dividing the profit or loss for the year by the weighted average number of ordinary shares in issue during the year:
Unaudited 6 months to 31 March 2026 | Unaudited 6 months to 31 March 2025 | |
Loss for the year from continuing operations for the owners of the Company - £ | (867,009) | (860,267) |
Weighted number of ordinary shares in issue | 179,190,320 | 57,073,049 |
Basic earnings per share from continuing operations - pence | (0.48) | (1.5) |
There is no difference between the diluted loss per share and the basic loss per share presented. Share options and warrants could potentially dilute basic earnings per share in the future but were not included in the calculation of diluted earnings per share as they are anti-dilutive for the year presented.
3. REVENUE
Unaudited 6 months to 31 March 2026£ | Unaudited 6 months to 31 March 2025£ | |
Project-based services | 46,500 | 37,000 |
Technology and data services | 64,801 | - |
Media and marketing services | 248,279 | - |
Total revenue | 359,580 | 37,000 |
4. INTANGIBLE ASSETS
Group and Company | Brand name | Customer | Software | WIP | Goodwill | Total |
As at 1 October 2024 | - | - | - | 540,000 | - | 540,000 |
Acquisition of Halfspace | 180,673 | 195,412 | 247,742 | - | 1,865,026 | 540,000 |
At 30 September 2025 | 180,673 | 195,412 | 247,742 | 540,000 | 1,865,026 | 540,000 |
Transfer |
|
| 540,000 | (540,000) | - | - |
At 31 March 2026 | 180,673 | 195,412 | 787,742 | - | 1,865,026 | 3,028,853 |
Accumulated Amortisation | ||||||
As at 1 October 2024 | - | - | - | - | - | - |
Charge for the year | 6,453 | 4,441 | 12,387 | - | - | 23,281 |
Impairment charge | 1,152,502 | 1,152,502 | ||||
At 30 September 2025 | 6,453 | 4,441 | 12,387 | - | 1,152,502 | 1,175,783 |
Charge for the period | 6,453 | 4,441 | 12,387 | - | - | 23,281 |
At 31 March 2026 | 6,453 | 4,441 | 12,387 | - | 1,152,502 | 1,175,783 |
Net Book Value | ||||||
At 30 September 2025 | 174,220 | 190,971 | 235,355 | 540,000 | 712,524 | 1,853,070 |
At 31 March 2026 | 161,315 | 182,088 | 696,581 | - | 712,524 | 1,752,508 |
5. WARRANTS
March 2026 |
| September 2025 | |||
Weighted average exercise price | Number of warrants |
| Weighted average exercise price | Number of warrants | |
Opening balance | 0.01 | 9,664,770 | 0.01 | 100,000,000 | |
Issue of Founder warrants | - | - | - | - | |
Surrender and sale of warrants | - | - | 0.01 | (100,000,000) | |
Recognition of PLC warrants | - | - | 0.003 | 2,700,000 | |
Consideration warrants | - | - | 0.03 | 6,723,940 | |
Advisor warrants | - | - | 0.135 | 240,830 | |
Outstanding at the end of the year | 0.03 | 9,664,770 | 0.03 | 9,664,770 | |
Exercisable at the end of the year | 0.01 | 2,940,833 | 0.01 | 2,940,833 | |
As at 31 March 2026 the weighted average time until expiry is 3.75 years.
6. EVENTS SUBSEQUENT TO PERIOD END
Issue of equity and deffered consideration
On 12 June 2026 the Company announced that the Halfspace Deferred Consideration Condition had been satisfied, Halfspace having contributed in excess of £630,000 of revenue since completion of its acquisition in July 2025. Accordingly, the Company agreed to issue 15,384,611 Deferred Consideration Shares to the Halfspace vendors at an issue price of 2.5 pence per share.
The Company also agreed to issue 4,182,240 new ordinary shares at 2.5 pence per share to certain creditors and advisers to the Halfspace business in satisfaction of amounts due for services provided (the "Adviser Shares").
Deferred Consideration Shares issued to Directors and other persons discharging managerial responsibilities ("PDMRs"):
Halfspace founder | Deferred Consideration Shares issued | Holding on admission |
Rory Maxwell (a Director of the Company) | 3,451,239 | 6,902,478 (3.47%) |
Sanjit Atwal | 5,020,788 | 10,041,577 (5.05%) |
Stephen Schindler | 1,880,426 | 3,760,852 (1.89%) |
Director appointment
On the same date as the above, the Company confirmed the appointment of Daniel Gee to the Board as Chief Technology Officer, with immediate effect. Daniel gee was previously the Chief Technnology Officer of Pri0rity AI Limited- a subsidiary of the Group.
Closing of £1.25 million funding package and entry into At-The-Market Facility
On 23 June 2026 the Company confirmed that all conditions precedent to funding under the £1.25 million (gross) Convertible Loan Note agreement announced on 11 June 2026 (the "CLN") had been satisfied, with drawdown of funds scheduled to occur within the following two business days.
In connection with the CLN, the Company entered into an At-The-Market facility (the "ATM Facility") with Global Investment Strategy UK Limited ("GIS"). Under the ATM Facility, new ordinary shares of £0.003 nominal value may be made available for sale through GIS on a tranche-by-tranche basis, at the discretion of the Board and at no less than a minimum price set by the Company for each tranche. The Company receives net proceeds equal to 97.5% of the gross sale proceeds of each tranche. The ATM Facility has an initial term of 12 months, and the Company is under no obligation to issue shares during the term.
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