CYK Cykel AI Plc

TIDMCYK

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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October 25, 2023 02:00 ET (06:00 GMT)

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