Collaboration with Qualcomm Technologies
Summary by AI BETAClose X
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) No. 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
FOR IMMEDIATE RELEASE
16 June 2026
Inspecs Group plc
("Inspecs", the "Company" or the "Group")
Inspecs and Qualcomm Technologies collaborate to enable new personal AI devices
Inspecs Group plc, a leading designer, producer and distributor of eyewear, is pleased to announce a subscription for 7,503,001 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") by Qualcomm Technologies, Inc. ("Qualcomm Technologies"), at a price of £1 per Ordinary Share ("Subscription Price") to raise gross proceeds of approximately $10m (£7.5m) ("Subscription"), alongside a new commercial collaboration between Qualcomm Technologies and Inspecs focused on developing eyewear technology. The proceeds of the Subscription will be used to support the growth of Inspecs and general working capital purposes.
The strategic commercial collaboration will aim to create a connected, technology-enabled platform that intends to redefine eyewear as a technology category. The collaboration will aim to bring together Qualcomm Technologies' globally recognised technology expertise and scale with Inspecs's eyewear design authority, manufacturing capability, global distribution and trusted brand relationships to be at the forefront of building the next generation of wearable technology.
Admission
Application has been made to the London Stock Exchange for admission of 7,503,001 Ordinary Shares issued in connection with the Subscription to trading on AIM ("Admission"). It is expected that Admission will become effective at or around 8.00 a.m. on 18 June 2026.
Total voting rights
In accordance with Rule 5.6.1 of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the total number of Ordinary Shares in issue following Admission will be 109,174,526. There are no shares held in treasury.
Therefore, the total number of voting rights in Inspecs is 109,174,526. With effect from Admission, this figure 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 Disclosure Guidance and Transparency Rules.
Robin Totterman, Founder of Inspecs Group plc, commented:
"For many years we have believed that smart eyewear is the next frontier for wearable technology and we are delighted to be partnering with Qualcomm Technologies today to deliver on our ambitions. We believe this investment and strategic collaboration will accelerate adoption in a category that is about to scale rapidly, and position Inspecs and Qualcomm Technologies among leaders in the industry."
Ziad Asghar, Senior Vice President and General Manager of XR, Wearables and Personal AI, Qualcomm Technologies, commented:
"Qualcomm Technologies' collaboration with Inspecs reflects our focus on enabling a new generation of personal AI devices across industries such as enterprise, healthcare, and industrial applications. We're also pleased that Inspecs will be the first partner to adopt our Snapdragon START program, helping bring smart glasses to market that fit naturally into everyday life-blending timeless design with powerful, intuitive technology."
For further information please contact:
|
Inspecs Group plc Richard Peck (CEO)
|
Tel: +44 (0) 1225 717 000 |
|
Peel Hunt (Financial Adviser, NOMAD and Broker) George Sellar Andrew Clark |
Tel: +44 (0) 20 7418 8900 |
About Inspecs Group plc
Inspecs is a leading provider of eyewear solutions to the global eyewear market. The Group produces a broad range of eyewear frames and low vision aids, covering optical, sunglasses and safety, which are either "Branded" (under licence or under the Group's own proprietary brands), or "OEM" (unbranded or private label on behalf of retail customers).
Inspecs is building a global eyewear business through its vertically integrated business model. Its continued growth is underpinned by increasing the penetration of its own-brand portfolio, worldwide distribution, growing retail presence, maximising group synergies and its global network, expanding its manufacturing capacity and scaling the research and development department as it develops new and innovative eyewear products. The Group has operations across the globe: with offices and subsidiaries in the UK, Germany, the US, Portugal, Scandinavia and China (including Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China and Italy.
Inspecs customers are global optical and non-optical retailers and enterprises, global distributors and independent opticians. Its distribution network covers over 80 countries and reaches approximately 75,000 points of sale.
More information is available at: https://INSPECS.com
Important notices
The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 (as amended) as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Peel Hunt LLP ("Peel Hunt") which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting as nominated adviser for the Company and for no-one else in connection with the subject matter of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Peel Hunt, or for providing advice in relation to any matter referred to herein.
This announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, economic and business conditions, the effects of continued volatility in credit markets, market-related risks such as changes in the price of commodities or changes in interest rates and foreign exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards ("IFRS") applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation or regulatory investigations, the success of future explorations, acquisitions and other strategic transactions and the impact of competition. A number of these factors are beyond the Company's control. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. You should not place undue reliance on forward-looking statements. Any forward-looking statements made in this announcement by or on behalf of the Company speak only as of the date they are made. Except as required by the FCA, the London Stock Exchange or applicable law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
The distribution of this announcement in certain jurisdictions may be restricted by law. No action has been taken by the Company or any of its affiliates, or any of its or their respective directors, officers, partners, employees, advisers and/or agents that would permit the distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, such restrictions.
The contents of this announcement are not to be construed as financial, legal, business or tax advice. If you do not understand the contents of this announcement, you should consult an authorised financial adviser, legal adviser, business adviser or tax adviser for financial, legal, business or tax advice.
The information in this announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, dissemination, reproduction, or disclosure of this information in whole or in part is unauthorised. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this announcement should seek appropriate advice before taking any action. Persons distributing any part of this announcement must satisfy themselves that it is lawful to do so. Failure to comply with this directive may result in a violation of applicable laws of other jurisdictions.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.
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.
Latest directors dealings
- 7 hours ago ASOS
- 7 hours ago MJ Gleeson
- 7 hours ago Rolls-Royce Holdings
- 8 hours ago Crest Nicholson Holdings
- 8 hours ago Naked Wines