Convertible Loan Facility Agreement drawdown

RNS Number : 6788T
Insig AI Plc
26 July 2022
 

26 July 2022 

 

Insig AI plc

("Insig AI" or the "Company")

Convertible Loan Facility Agreement drawdown

Insig AI plc (AIM: INSG), the data science and machine learning group, announces that on 25 July 2022 a further £350,000 was drawn down on the convertible loan facility agreements with Richard Bernstein and David Kyte, as announced on 4 May and 17 June 2022, respectively.

As previously announced the cash drawn down will be in tranches as required by the Company. On 25 July 2022, a third tranche of 233,334 was drawn down on the convertible loan facility provided by Richard Bernstein, meaning a total of 633,334 has now been drawn down under the facility agreement of £1.0 million. A second tranche of 116,666 was also drawn down on the same day, on the convertible loan facility provided by David Kyte, meaning a total of 316,666 has now been drawn down under that facility agreement of £0.5 million.

 

For further information, please visit www.insg.ai or contact:    

Insig AI plc

Colm McVeigh (CEO)

  Via SEC Newgate

 

Zeus (Nominated Adviser & Broker)

David Foreman / James Hornigold / Danny Philips

 

+44 (0) 20 3829 5000

SEC Newgate (Financial PR)

Robin Tozer / Richard Bicknell

+44 (0) 7540 106 366

insigai@secnewgate.co.uk

 

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Insig AI (INSG)
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