StreaksAI PLC Change of Board Composition (5464K)
29 August 2023 - 8:00AM
UK Regulatory
TIDMSTK
RNS Number : 5464K
StreaksAI PLC
29 August 2023
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended). Upon the publication of this announcement via a
Regulatory Information Service, this inside information is now
considered to be in the public domain.
29 August 2023
StreaksAI PLC
("StreaksAI" or "the Company")
Change of Board Composition & Issue of Equity and
Warrants
StreaksAI (LSE: STK), a UK-based provider of AI-focused
conversational gaming "Streaks Gaming" and the newly announced
Social AI platform for influencers "Streaks Social", is delighted
to announce the appointment of Philip Blows as Chief Executive
Officer with immediate effect.
Phil has been Executive Director of StreaksAI since 20 February
2023. With the impending launch of StreaksAI's social AI platform
for influencers, Streaks Social, the Company will benefit greatly
from Phil's experience in building and scaling multiple
retail-focused platforms, including his previous positions as CEO
of AQRU PLC, which owned and operated a cryptocurrency retail
trading application, and as Director of Wealth Wizards, a UK-based
robo-advice platform.
Mark Rutledge, who has been Chief Executive Officer throughout
the IPO period and the launch of StreaksAI, will become
Non-Executive Director of StreaksAI with immediate effect. The
Board of Directors would like to thank Mark for all his efforts as
Chief Executive of the Company and for providing a solid operating
platform on which to build.
Issue of Equity
StreaksAI also announces the issue of 420,000 Ordinary Shares of
GBP0.001 per share ("Ordinary Shares") (the "Fee Shares") in
respect of the commission due to Tennyson Securities in relation to
services rendered to the Company. The Fee Shares have been issued
at an issue price equivalent to GBP0.03 per Share. The Fee Shares
rank pari passu with existing shares in issue.
Issue of Warrants
The Company has also granted Tennyson Securities 420,000
warrants to subscribe for new Ordinary Shares ("Warrants") pursuant
to the engagement letter with Tennyson Securities. The Warrants
have a strike price of GBP0.03 and expire on 4 January 2028.
Admission
Application will be made to the Financial Conduct Authority
("FCA") for admission of the Fee Shares to the standard listing
segment of the Official List and to the London Stock Exchange (the
"LSE") for admission to trading of the Fee Shares on the LSE's Main
Market for listed securities (together "Admission"). It is expected
that Admission will take place at or around 8.00 a.m. on 1
September 2023.
Following Admission, the Company's issued share capital will
consist of 378,732,535 Ordinary Shares with voting rights. The
Company does not currently hold any Ordinary Shares in
treasury.
This figure, 378,732,535, may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the DTR.
Philip Blows, Chief Executive Officer of StreaksAI, commented:
"I'm delighted to be appointed as CEO at such an exciting point in
the Company's development, following the launch of our
groundbreaking Streaks Socials product. Artificial intelligence is
revolutionising communication, and StreaksAI is allowing
influencers to communicate in their distinctive styles with their
fans, whilst simultaneously providing fans with personalised
interactions. I am looking forward to building a strong business
for our customers and delivering long-term value for our
shareholders, as we work to redefine the frontiers of AI in the
social and gaming domains."
For further information please contact:
StreaksAI PLC
Mike Edwards via First Sentinel
+44 203 989 2222
Non-Executive Chairman
-------------------
Tennyson Securities
-------------------
Corporate Broker
Peter Krens +44 207 186 9030
-------------------
First Sentinel
-------------------
Corporate Broker
Brian Stockbridge +44 203 989 2200
-------------------
Tancredi Intelligent Communication
-------------------
Media Relations
Helen Humphrey
Charlie Hobbs +44 744 922 6720
Jasmine Gadhavi +44 7897 557112
stai@tancredigroup.com +44 7931 435236
-------------------
About Streaks:
StreaksAI PLC is a provider of AI based conversational
technologies. The Company offers two core products in the gaming
and conversational AI space.
For more information on the Conversational Gaming AI product,
please visit www.playstreaks.com .
For more information on the Conversational AI product, please
visit www.streaks.ai .
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