Cykel AI PLC Admission to Trading on the AQSE Growth Market (1427R)
2023年10月25日 - 3:00PM
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RNS Number : 1427R
Cykel AI PLC
25 October 2023
25 October 2023
Cykel AI plc
("Cykel AI" or the "Company")
Admission to Trading on the AQSE Growth Market
First day of dealings
Cykel AI (AQSE: CYK) is pleased to announce that admission of
its ordinary shares of GBP0.001 par value ("Ordinary Shares") to
trading on the Access segment of the Aquis Stock Exchange ("AQSE")
will take place and dealings will commence at 8.00 a.m., 25 October
2023 ("Admission"), under the ticker CYK and ISIN number
GB00BPTJZN05.
The commencement of trading of the Company's Ordinary Shares
follows a successful subscription and placing by Clear Capital
Markets for a total of 58,333,350 Ordinary Shares at 3p per
Ordinary Share, raising gross proceeds of GBP1,750,000.50 (before
expenses).
On Admission, the Company will have 205,183,350 Ordinary Shares
in issue and the market capitalisation of the Company will be
approximately GBP6,155,500.
Jonathan Bixby, Co-Founder and Executive Chairman at Cykel AI,
said:
"Cykel AI is building a Natural Language Processing (NPL)
technology that takes both spoken and typed requests from humans
and performs tangible digital actions. Its machine learning model
will seamlessly engage with all facets of the user's computer
environment.
Cykel AI will use the power of AI technologies to transform
business processes by making mundane digital tasks such as filling
digital forms, managing work tools like spreadsheets or booking
meetings and holidays infinitely quicker and easier. Where AI is
the 'brain', Cykel AI will be the 'hands' that will make performing
tasks in the digital world quicker and easier.
The demand for our IPO exceeded our expectations, raising some
GBP1,000,000 more than our target. We would like to thank our new
shareholders for joining us on this exciting journey to capitalise
on the huge opportunity that AI technology presents", continued
Bixby.
Clear Capital Markets and First Sentinel acted as joint brokers
to the Company, with First Sentinel acting as Corporate
Adviser.
About Cykel AI
Cykel AI is a software business developing advanced artificial
intelligence ("AI") products, intending to offer these to
businesses and consumers through a "software as a service" (SaaS)
model. The Company is developing a machine learning model that
seamlessly engages with all facets of the user's computer
environment.
The model will be trained to harness the capabilities of all
existing software tools, application programming interfaces (APIs),
and web-based applications, a novel methodology for task execution,
translating user objectives articulated in plain language into
tangible actions executed within their daily software applications.
The Company's software is intricately designed and trained to
execute commands in response to natural language directives,
specifically within the realm of computer interfaces.
The Company's admission document is available to view on its
website https://www.cykel.ai/
The directors of Cykel AI plc accept responsibility for this
announcement.
For further information please contact:
Cykel AI plc
--------------------------------------------
Jonathan Bixby Via First Sentinel
------------------ ------------------------
First Sentinel (Corporate Adviser)
--------------------------------------------
Brian Stockbridge brian@first-sentinel.com
+44 (0) 20 3855 5551
------------------ ------------------------
Clear Capital Markets (Broker)
--------------------------------------------
Bob Roberts +44 (0) 20 3869 6080
------------------ ------------------------
Nominis Advisory (PR Adviser)
--------------------------------------------
Angus Campbell angus@nominis.co
------------------ ------------------------
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END
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(END) Dow Jones Newswires
October 25, 2023 02:00 ET (06:00 GMT)
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