4 Jul 2023 07:00
4 July 2023
Insig AI plc
("Insig AI" or the "Company")
Revision of Convertible Loan Facility Agreement
Insig AI plc (AIM: INSG), the data science and machine learning group, is pleased to announce the Company has agreed revised terms for the Convertible Loan Note agreement (the "Agreement" or the "CLN") with Richard Bernstein (the "Loan Note Holder") as announced on 12 September 2022 for £0.75m. The Company and Loan Note Holder have agreed to extend the term of the CLN by six months to 30 December 2023. All other terms are unchanged.
The directors of the Company (excluding Richard Bernstein), having consulted with Zeus Capital Limited, the Company's nominated adviser, consider that the terms of the Convertible Loan are fair and reasonable insofar as the Company's shareholders are concerned.
Richard Bernstein commented: "As I see the Company continuing to broaden both its product offering and engagement with potential strategic partners, I am happy to extend the term of the CLN."
For further information, please visit www.insg.ai or contact:
Insig AI plc Colm McVeigh (CEO) | colm.mcveigh@insg.ai
|
Zeus Capital Limited (Nominated Adviser & Broker) David Foreman / James Hornigold / Danny Phillips
| +44 (0) 20 3829 5000 |
Insig Ai Plc (INSG)