TIDMTEK
RNS Number : 6973X
Tekcapital plc
22 December 2023
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")s. With the publication of
this announcement via a Regulatory Information Service ("RIS"),
this inside information is now considered to be in the public
domain.
22 December 2023
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Annual Corporate & Strategy Update
Tekcapital Plc (AIM: TEK) the UK intellectual property
investment group focused on creating valuable products that can
improve people's lives, is delighted to take this opportunity to
provide an update on activities in 2023 and the progress towards
its objective of achieving a US$100m + valuation for its portfolio
companies.
Tekcapital's investment objective is to achieve long-term growth
of net assets and returns on invested capital through the
commercialisation of university IP that can positively impact
people's lives.
We see a clear runway of growth for each of our portfolio
companies in the coming year and look forward to reporting progress
to shareholders.
Tekcapital intends to maintain material holdings in select
portfolio companies until we feel sufficient value has been created
to warrant crystallising value for shareholders while balancing the
requirements for Tekcapital to support portfolio companies in
achieving commercial traction and key milestones.
Dr Clifford Gross, CEO of Tekcapital plc, commented:
'Despite challenging macroeconomic conditions in 2023, we have
never been as excited about the near-term commercial opportunities
for our portfolio companies, and we expect to report significant
additional milestones for them in the coming year. We are grateful
for the terrific teams we have assembled, the IP and innovation
they have acquired and developed and their steadfast efforts to
bring useful and valuable products to market that can make a
positive impact on the customers they serve. Further, we are most
appreciative of our dedicated shareholders who have made this
journey possible. We wish all members of the Tekcapital family a
safe and happy festive season."
Strategy Update
-- Tekcapital remains committed to medium and long-term
shareholder value creation by identifying university technologies
with significant commercial opportunities and the ability to
improve the lives of millions of people.
-- Consistent with this important goal, we are continuing to
assist MicroSalt in the completion of their planned IPO.
-- In 2024, Tekcapital will support select portfolio companies
in accelerating commercial traction and achieving revenue
milestones.
-- Tekcapital remains committed to distributing special
dividends to shareholders at the appropriate time.
-- MicroSalt recently received wholesale orders from two
Fortune-500 companies, one a leading snack food company and the
other one of the world's largest pharmacy/food retail chains.
Additionally, the company is engaged in late-stage supplier
discussions with other major snack food brands which the company
hopes to announce in 2024.
-- Innovative Eyewear, Inc. has launched Nautica(R) smart
eyewear and is on track to launch Eddie Bauer(R) and Reebok(R)
branded ChatGPT-enabled smart eyewear in 2024, supported by the
Lucyd 2.0 ChatGPT enabled voice interface app.
-- Belluscura plc is preparing to meet the demands of licensing
agreements and orders with a circa GBP8m funding package and a
strengthened management team.
-- Guident ltd intends to accelerate growth of its Software as a
Service (SaaS) Remote Monitoring and Control Centre (RMCC) solution
that is currently generating recurring revenues. The Company has
engaged a leading US investment bank, Paulsen Investment Company ,
to raise capital for expanding its RMCC business. In addition, the
company plans to conduct further testing and appraisal of its
proprietary Regenerative Shock Absorber technology after completing
successful trials with a tier-1 tire company.
-- Tekcapital will continue to seek new investment opportunities
that fit the company's long-term objective of creating shareholder
value and improving millions of people's lives. Current focus in
this regard is on vertical applications of Generative AI
technology. To this end Tekcapital has on-boarded two additional
science advisors to help screen future acquisition
opportunities.
o Dr. Russ Salakhutdinov, the former director of AI at Apple.
Russ is a Professor of Computer Science in the Department of
Machine Learning at Carnegie Mellon University (CMU). He received
his PhD in computer science from the University of Toronto. After
spending two post-doctoral years at MIT, he joined the University
of Toronto and later moved to CMU. He has authored/co-authored over
150 research papers, and was an Alfred P. Sloan Research Fellow,
Microsoft Research Faculty Fellow, a recipient of the Early
Researcher Award, Google Faculty Award, and Nvidia's Pioneers of AI
award and,
o Alexander Mordvintsev who currently serves as a Senior
research scientist at Google and is the inventor of Deep Dream.
Alexander is one of the world's leading scientists in AI and
computer graphics.
Portfolio Companies 2023 Review
MicroSalt plc
Highlights:
-- MicroSalt received an initial 60,000 lb commercial volume
purchase order with one of the world's largest beverage/snack food
companies and is expecting continued, recurring orders going
forward.
-- MicroSalt has now delivered its first commercial-volume
purchase order from leading pharmacy/food retailer for use on an
initial four lines of its own brand salted nuts, to be sold across
an initial c.800 stores, as announced on 2 May 2023.
-- MicroSalt filed a Schedule One with the London Stock Exchange
with updates, regarding its proposed AIM IPO and is working
diligently towards achieving this goal.
-- As announced on 6 February 2023 US Salt entered an agreement
with MicroSalt for the distribution and sale of its low-sodium
salt.
-- As announced on 31 July 2023 MicroSalt expanded into the
Philippines market with new distribution deals with major retailers
Healthy Options and S&R, demonstrating global demand for its
sodium-reduced snacks.
-- As announced on 7 September 2023 MicroSalt filed a patent for
a low-sodium, faster-leavening dough technology using micron-sized
salt particles to improve the nutritional profile and production
efficiency of baked goods. MicroSalt believes the use of MicroSalt
in bread is potentially transformative for the bread industry.
-- As announced on 1 October 2023 MicroSalt secured placement of
its SaltMe! low sodium crisps with distributor MR Williams Inc
servicing convenience stores across North Carolina, South Carolina,
and surrounding states up to Delaware and down to Georgia.
-- As announced on 19 October 2023 Longs Drugs, a leading
70-store drug store chain in Hawaii owned by CVS Health, agreed to
place MicroSalt's SaltMe! Crisps in their stores across the
state.
-- Since releasing their saltshakers in 2023, more than 400 food
stores in the US have purchased and provide MicroSalt saltshakers
to their customers.
Belluscura plc
Highlights:
-- On the 5 Oct 2023 Belluscura announced orders and licensing
royalty agreements totalling up to potentially US$85m.
-- On the 30 August 2023 Belluscura entered into a ten-year
exclusive License, Marketing and Distribution Agreement with its
global manufacturing partner, InnoMax Medical Technology covering
China, Hong Kong, Macau and Singapore worth up to US$55m in
potential revenue for Belluscura.
-- On the 5 Oct 2023 Belluscura announced it received interest
exceeding 10,000 DISCOV-R(TM) units with a potential sales value of
over US$30 million.
-- On the 20 December 2023 Belluscura received its first
approval for the distribution of X-PLOR(R) portable oxygen
concentrator from the Hong Kong Department of Health - Medical
Device Division and received its first purchase order from a Hong
Kong distributor.
-- On 5 Oct 2023 Belluscura announced a circa GBP8m growth
capital funding package raised by means of a conditional equity
placing, a conditional issue of 10% Unsecured Convertible Loan
Notes and a proposed share-for-share offer for TMT Acquisition
plc.
-- Following the announcement, it has received X-PLOR(R)
approval in Hong Kong, on 13 Dec 2023 Belluscura further announced
it has received approval from the Singapore Health Sciences
Authority to distribute the X-PLOR(R) portable oxygen concentrator
in Singapore.
Guident ltd
Highlights:
-- On the 16 June 2023 Guident was awarded funding from Space
Florida for a groundbreaking project under the Florida-Israel
Innovation Partnership program, together with the Company's valued
Israeli partner, NOVELSAT. The project will explore low-orbit
satellite connectivity to provide 24/7 back-up monitoring with
reduced latency in Remote Monitoring and Control Solutions.
-- On the 24 August 2023 Guident secured a paid proof of concept
agreement with a tier-1 OEM, resulting in successful tests and
detailed reports for Guident's regenerative shock absorber.
-- Also, on the 24 August 2023 Guident announced it had received
and fulfilled its first purchase order from Jacksonville
Transportation Authority (JTA) for JTA project to provide remote
monitoring and control services and is receiving recuring revenue
from JTA.
-- On the 6 Sept 2023 Recognising commercial and funding
opportunities in their Regenerative Shock Absorber technology,
Guident formed 100%-owned subsidiary ReVive Energy Solutions.
Separating their shock absorber technology from RMCC services will
support a precision-targeted go-to-market and strategic investor
strategy.
-- On the 16 Oct 2023 Guident secured landmark Software as a
Service (SaaS) agreements with European partners to provide its
Remote Monitoring and Control Centre (RMCC) software for
fixed-route electric bus services. Under the terms of the
agreement, Guident will receive both upfront and incremental
recurring revenue for each software installation.
Innovative Eyewear Inc.
Highlights:
-- Innovative Eyewear launched the world's first ChatGPT-enabled
smart eyewear and filed a patent application covering this
important integration.
-- To service the requirements of the world's first AI-enabled
smart eyewear with a voice interface, Innovative Eyewear launched
its new iOS/Android app called Lucyd.
-- Innovative Eyewear signed licensing agreements with
Nautica(R), Eddie Bauer(R) and Reebok(R) brands for the development
of branded ChatGPT-enabled smart eyewear.
-- Nautica-branded smart eyewear powered by Innovative Eyewear's
Lucyd technology has launched and will be available in eight styles
and will be shipped in January 2024.
-- Innovative Eyewear filed a patent on a key product
innovation, flexible spring hinges for smart eyewear. The solution
will be used on most Innovative Eyewear ranges, enhancing comfort
and open Lucyd smart eyewear up to a wider array of customers.
-- Innovative Eyewear launched the new addition of the Company's
cordless charging dock, enabling the simultaneous charging of smart
eyewear and other devices, including mobile phones.
-- Innovative Eyewear new transitional blue light blocking lens
designed to maximize utility, eye protection and user satisfaction
of Lucyd eyewear.
-- With improved ergonomics and large sizes, Innovative Eyewear
launched Lucyd Lyte XL in six new styles suited for larger
heads.
-- Innovative Eyewear has announced the signing of Emmanuel
Ogbah as an official brand ambassador. Ogbah is a Nigerian
professional football who plays defensive end for the Miami
Dolphins, where he received a US$65m contract in 2022. Lucyd
eyewear's open-ear audio interface makes it a perfect companion for
outdoor sports, by enabling the user to enjoy music while helping
to maintain situational awareness and protecting their eyes from
the sun in one convenient product, according to the company.
Corporate Services
Tekcapital's technology transfer service business has
demonstrated in the first half of 2023 30% year over year increase
in revenue vs 2022. This consists of both specialist tech-transfer
executive search and invention evaluator analytic reports. Key
clients include Hewlett Packard Enterprises and MIT amongst many
others. In H1 2024 Tekcapital will introduce an upgraded invention
evaluator service that will incorporate generative AI produced
analytic results, which we believe will add significant additional
value, improve operating margins, and add multilingual capabilities
to the finished reports.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
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 .
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff IR
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)
Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0)207 129
1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving MicroSalt that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital's management.
Please note that these are subject to a number of risks,
uncertainties and factors, including, but not limited to those
described in various disclosures. Should one or more of these risks
or uncertainties materialize or should underlying expectations not
occur or assumptions prove incorrect, actual results, performance
or achievements of Tekcapital may vary materially from those
described explicitly or implicitly in the relevant forward-looking
statement. Tekcapital does not intend, nor assumes any obligation,
to update or revise these forward-looking statements in light of
developments which differ from those anticipated.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPGWCPUPWPGG
(END) Dow Jones Newswires
December 22, 2023 02:00 ET (07:00 GMT)
Tekcapital (LSE:TEK)
過去 株価チャート
から 4 2024 まで 5 2024
Tekcapital (LSE:TEK)
過去 株価チャート
から 5 2023 まで 5 2024