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#TEK Tekcapital Plc – Portfolio Company Update – Guident
Tekcapital Plc (AIM: TEK, the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people’s lives, is pleased to provide a comprehensive snapshot of Guident Ltd’s (“Guident”) significant achievements over the past year.
Elevating Core Solution Portfolio
Remote Monitor and Control Centre (RMCC) Enhancements
Guident is upgrading its Remote Monitor and Control Centre with an enhanced user interface, resilient fault tolerance upgrades and an innovative steering wheel integration with practical features. Guident’s consistent advancement aligns with monthly milestones, positioning it well for a customer acceptance test scheduled for early fall 2023 with its first major customer Jacksonville Transportation Authority (“JTA”), followed by its inaugural commercial deployment at the Boca Raton Innovation Campus (BRiC). This marks the transition from the proof-of-concept phase to commercial deployment.
Guident’s HQ will move to BRiC and deploy the RMCC with the best-in-class video wall displays and a visualization system for the RMCC dashboards. The image below shows the RMCC rendering with three Remote-Control Operator (RCO) stations.
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AI Patent for Real-time Monitor and Control
In June 2023, Guident achieved a milestone by receiving notice of allowance from the United States Patent and Trademark Office related to its patent for AI methods and systems that facilitate near real-time, intelligent remote monitor and control of autonomous vehicles, robots, and drones. This achievement amplifies Guident’s patent portfolio, which now boasts 9 patents, reinforcing its commitment to ensuring the safety and security of autonomous operations.
The Regenerative Shock Absorber
In a significant leap, Guident secured a paid proof of concept agreement with a tier-1 tire manufacturer. This collaboration resulted in successful tests and detailed reports for the regenerative shock absorber. This technology aims to manufacture electromagnetic regenerative shock absorbers with high energy densities that can recover a vehicle’s vibration energy, otherwise lost due to road irregularities, vehicle accelerations, and braking.
Expansive Customer Engagements
Guident remains committed to its collaborative efforts with the Boca Raton Innovation Campus, progressing with constructing Guident’s headquarters at BRiC and advancing with the autonomous shuttle service on campus. This venture solidifies Guident’s presence as a key player in the autonomous vehicle ecosystem in the U.S.
Guident’s partnership with the Jacksonville Transportation Authority (JTA), the largest transportation authority in the U.S., is thriving, evidenced by a monthly recurring purchase of its teleoperation software solution. Guident is executing a successful integration for JTA with one of their AVs at the Armsdale Test and Learn Center.
The sales pipeline has experienced remarkable growth over the past year, adapting a direct and indirect sales approach, opening a wealth of exciting opportunities for Guident in the immediate future.
Space Florida Grant Award
Guident and Novelsat, a global leader in content connectivity, partnered earlier this year to develop an innovative always-on, ubiquitous remote monitor and control solution for autonomous vehicles and devices. Guident has been awarded funding for this project under the Florida-Israel Innovation Partnership program by Space Florida. The grant is awarded to develop a safer RMCC for monitoring, management, and backup control of terrestrial autonomous vehicles with satellite communications.
Strategic Collaborations Drive Growth
In the past year, a critical strategic emphasis was fostering partnerships with autonomous vehicle (AV) manufacturers and impactful ecosystem allies. The focus on this topic has significantly increased Guident’s patent portfolio, evolving it from a local to a global presence. Leveraging diverse AV fleets for promising projects has increased new sales opportunities and demonstrated remarkable sales potential.
One outstanding partnership was with Auve Tech, a prominent autonomous vehicle system provider from Estonia, catering to a client base across Europe and Japan. On March 15, 2023, Guident signed a strategic partnership agreement with Auve Tech with the shared objective of revolutionizing autonomous vehicle solutions. This collaboration is focussed around Auve’s MiCa autonomous shuttles, which Auve believe are poised to redefine local mobility solutions.
Leadership Engagements and Industry Presence
Showcasing Guident’s Vision
Guident’s dedicated team participated in six high-profile industry networking events and podcasts, including Move America Austin, CES Las Vegas, Mobile World Congress Barcelona, CoMotion Miami, Autonomous Vehicle Day Jacksonville, and the American Council of the Blind Sunday Edition podcast.
Guident’s CEO engaged in meaningful discussions on AV safety, accessibility, and societal impact during the American Council of the Blind Sunday Edition Podcast-Guident’s nurturing relationships with disability community organizations to create impactful AV mobility solutions.
Guident’s exhibition at the CoMotion industry event in Miami, and the Autonomous Vehicle Day in Jacksonville, underscored technology demonstration and industry engagement.
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National U.S. Autonomous Vehicle Day
Guident’s National Autonomous Vehicle Day events have gained remarkable traction. In 2022, Guident demonstrated leadership by hosting the National U.S. Autonomous Vehicle Day (#AVDay) on May 31st. The event, held at BRiC in Boca Raton, Florida, not only celebrated technological advancements but also paved the way for implementing autonomous vehicle technology. This year marked the second installment of the event. The 2023 AV Day was even more impressive, combining in-person attendance with live streaming. Collaborating with the Jacksonville Transportation Authority as co-hosts, the event was at the Armsdale Test and Learn Center in Jacksonville, Florida. The AV Day 2023 event brought together 259 industry attendees. Central to the event’s success was the dedicated AV Day LinkedIn profile, engaging audiences and channelling traffic to the official website, AutonomousVehicleDay.com. The event received support from 11 sponsors and featured ten technology demonstrators and nine speakers.
The Market
According to Triton Market Research “the last mile AV autonomous vehicle delivery market is expected to reach US$41.7 billion by 2028 with a CAGR of 19%. Contactless or “touch-free” delivery is in high demand since the COVID-19 pandemic, and Guident believes this increased demand will accelerate the roll-out of land-based delivery drones for pedestrians, food and medicines to improve their availability and reduce the costs of these deliveries.
About Guident
Guident commercializes patented technology to enable safer autonomous vehicles and devices by providing industry-leading AV remote monitoring, control, assistance, and passenger support services. To learn more, please visit www.guident.com.
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 visitwww.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
Tekcapital owns 100% of the share capital of Guident Ltd. Guident Ltd. owns approximately 91% of Guident Corp., its US subsidiary.
For further information, please contact:
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Tekcapital Plc |
Via Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP Nominated Adviser and Broker |
+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (Corporate Broking) |
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
Tim Thompson/Andrea Seymour/Fergus Mellon
#SVML Sovereign Metals – Notice of Change of Interest of Substantial Holder
Sovereign Metals Limited (ASX: SVM, AIM: SVML) (Sovereign or the Company) advises that it was today notified via the filing of a Form 604 with the Australian Securities Exchange (ASX) that Sprott Inc. and each of its controlled bodies (Sprott) provided a notice of change of interests of substantial holder (as defined by the Corporations Act 2001) of the Company as of 20 July 2023, having increased its shareholding in the Company from 54,839,880 ordinary shares, representing 11.84% of the Company’s issued share capital as at the date of its previous notice, to 56,464,052 ordinary shares, representing 10.19% of the Company’s issued share capital, via on market purchases and disposals, and changes in account status or transfers.
The Form 604 can be viewed in full via the below link:
http://www.rns-pdf.londonstockexchange.com/rns/5700H_1-2023-7-28.pdf
ENQUIRIES
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Dylan Browne +61(8) 9322 6322 |
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat Harry Davies-Ball |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingram |
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Mariela Jaho |
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Christian Dennis |
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Tavistock PR |
+44 20 7920 3150 |
#SVML Sovereign Metals – June 2023 Quarterly Report
Sovereign Metals Limited (Company or Sovereign) (ASX:SVM & AIM:SVML) is pleased to provide its quarterly report for the period ended 30 June 2023.
HIGHLIGHTS
Rio Tinto invests $40.4m to become a 15% Strategic Investor
· Subsequent to the end of the quarter, Rio Tinto made an investment of A$40.4 million in Sovereign resulting in an initial 15% shareholding plus options to increase their position to potentially 19.99% within 12 months
· Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project (Kasiya) in Malawi
· Rio Tinto’s investment represents a significant step towards unlocking a major new supply of low-CO2-footprint natural rutile and flake graphite
· Under the Investment Agreement, Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya including with respect to Sovereign’s graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market
Government of Malawi publicly applauds Rio Tinto’s Investment
· The Government applauded the timely investment by Rio Tinto and marked it as a milestone towards realising the country’s aspirations of growing the mining sector as a priority industry
· The Government’s public statement confirms its commitment to ensuring the growth of the mining sector through deliberate initiatives aiming at establishing a conducive investment environment in the sector
Kasiya Rutile-Graphite Project PFS targeting completion this Quarter
· Sovereign is in the advanced stages of the Pre-Feasibility Study (PFS) for Kasiya, a potential industry-leading major source of critical raw materials from Malawi
· Kasiya aims to be one of the world’s largest and lowest cost producers of natural rutile and natural graphitewith a carbon-footprint substantially lower than other current and planned producers
Downstream Testwork on Kasiya’s Graphite shows Excellent Suitability for us in Lithium-Ion Batteries
· Downstream testwork on Kasiya’s graphite co-product demonstrated it to have superior qualities showing excellent suitability for use in lithium-ion batteries. Key outcomes include:
o Near perfect crystallinity – an indicator of battery anode performance
o Above benchmark >99.95% carbon purity achieved
o No critical impurities or deleterious elements commonly found in other natural graphite sources
Bulk Sample Operations Commenced
· Bulk sample program commenced to produce larger volumes of rutile and graphite from Kasiya. Samples to be used for downstream testwork and product qualification for the lithium-ion battery sector
link to the full results and financial statements here
ENQUIRIES
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Dylan Browne +61(8) 9322 6322 |
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat Harry Davies-Ball |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingram |
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Mariela Jaho |
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Christian Dennis |
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Tavistock PR |
+44 20 7920 3150 |
Sovereign Metals #SVML – Rio to Invest $40.4m to Become Strategic Investor
RIO TINTO TO INVEST $40.4 MILLION AND BECOME A 15% STRATEGIC INVESTOR IN SOVEREIGN
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Rio Tinto to make an investment of A$40.4 million in Sovereign resulting in an initial 15% shareholding |
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Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project in Malawi |
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Rio Tinto’s investment represents a significant step towards unlocking a major new supply of low-CO2-footprint natural rutile and flake graphite |
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Under the Investment Agreement, Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya including with respect to Sovereign’s graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market |
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Issue of 83,095,592 new Shares of Sovereign to Rio Tinto at a price of A$0.486 per share represents a 10% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023 |
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Rio Tinto also issued with 34,549,598 options to increase its shareholding by an additional 4.99% to potentially 19.99% of Sovereign within 12 months |
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Rio Tinto’s 34.5 million options have an exercise price of A$0.535 per Share, representing a 21% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023, for additional proceeds of up to $18.5 million (if all options are exercised) |
Sovereign’s Chairman Ben Stoikovich commented: “This landmark agreement with Rio Tinto, one of the world’s largest and most accomplished global mining companies, is confirmation of Kasiya’s place as one of the most significant critical mineral discoveries in recent times. The experience and expertise that Rio Tinto brings will truly set Kasiya apart as a potentially globally significant supply of two critical minerals and take us all a step closer to supply chain decarbonisation and achieving net-zero. Furthermore, this is yet another step towards unlocking significant benefits from development of the Kasiya project for Malawi. We welcome Rio Tinto as a major shareholder of Sovereign and look forward to working with Rio Tinto as our strategic partner in the development of Kasiya.”
ENQUIRIES
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Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London)
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Nominated Adviser on AIM |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat Harry Davies-Ball |
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Joint Brokers |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Optiva Securities |
+44 20 3137 1902 |
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Daniel Ingram |
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Mariela Jaho |
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Christian Dennis |
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Tavistock PR |
+44 20 7920 3150 |
Vox Market Podcast – Alan Green talks about: #ONDO Ondo InsurTech, #VRS Versarien & #DKL Dekel Agri-Vision
New Vox Market Podcast where Alan Green discusses about #ONDO Ondo InsurTech, #VRS Versarien & #DKL Dekel Agri-Vision.
Listen- https://www.voxmarkets.co.uk/articles/alan-green-talks-about-ondo-insurtech-versarien-dekel-agri-vision-42ae0af
#POW Power Metal Resources PLC – Investee Update – #GMET Golden Metal Resources PLC
Power Metal Resources PLC (“Power Metal” or the “Company”) Investee Update – Golden Metal Resources PLC
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes the announcement today by Golden Metal Resources PLC (LON:GMET)(“Golden Metal”) confirming significant copper systems identified at Golden Metal’s Garfield Project in Nevada USA.
An extract of Highlights from the announcement is provided in italics below:
Highlights:
– Discovery of two significant copper (Cu) zones which are now named the “Power Line Zone” (or “Power Line”) and “High-Grade Zone” (or “High-Grade”; collectively the “Zones”) which returned individual Cu-in-soil results of up to 851ppm and 950ppm Cu.
– Importantly, the newly discovered Zones are coincident with historical rock sampling results which returned up to 2.6% Cu at Power Line and 5.53% Cu at High-Grade, highlighting the significance of these newly defined copper mineralised systems at Garfield.
This announcement may be viewed through the following link:
Power Metal Holding in Golden Metal
Golden Metal completed a listing on the AIM market of the London Stock Exchange on 10 May 2023.
Power Metal holds 52,248,756 ordinary shares in Golden Metal (“Golden Metal Shares”)representing a 62.06% interest in the ordinary share capital of Golden Metal which, based on the closing market mid-price of Golden Metal on 19 May 2023, was valued at £4,049,279.
The total shareholding above is subject to a 12-month lock-in agreement prohibiting the sale of Golden Metal Shares until 10 May 2024, with a follow on further 12-month orderly market arrangement thereafter until 10 May 2025.
In addition to the shareholdings above, Power Metal holds 1,749,378 warrants to subscribe for a further 1,749,378 Golden Metal Shares at an exercise price of 10.75p per share and an expiry date of 10 May 2024. Power Metal also holds 1,749,378 warrants to subscribe for a further 1,749,378 Golden Metal Shares at an exercise price of 17.5p per share and an expiry date of 10 May 2025.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Sean Wade (Chief Executive Officer) |
+44 (0) 20 3778 1396 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#KAV Kavango Resources PLC – Corporate update & expiry of warrants
Kavango Resources plc (LSE:KAV), the Southern Africa focussed metals exploration company, is pleased to provide the following corporate update.
Progress with new acquisition
Kavango confirms it is in late-stage discussions for a potential exclusive 2-year option to acquire a gold exploration and development project in Zimbabwe (the “Option”). The project area covers a number of contiguous gold claims over a 3.4km strike that has supported historic high-grade underground mining and more recent surface small-scale mining op(the “Project Area”).
The Project Area has never been explored using modern methods or technology. Provisional terms of the Option would allow Kavango to perform unrestricted field due diligence (exploration and drilling), ahead of deciding whether to exercise the Option.
Kavango has completed extensive preliminary due diligence ahead of negotiating the Option, including two field visits to the Project Area.
Potential £6,000,000 conditional equity investment into Kavango
In parallel to the new acquisition discussions, Kavango has been in discussions with a single investor concerning a possible £6,000,000 conditional equity investment into the Company via a non-brokered direct subscription (the “Proposed Subscription”).
Should terms be finalised and agreed, the Company expects to complete the Proposed Subscription at 1p per share. Full completion of the Proposed Subscription would be subject to (i) approval by the Financial Conduct Authority of a prospectus; (ii) approval by shareholders of a waiver in accordance with Rule 9 of the Takeover Code; and (iii) the Company having the necessary authorities to issue the subscription shares.
Expiry of April 2020 warrants
On 15 April 2020, Kavango announced a £358,000 placing and subscription (the “April 2020 Placing”). As part of the April 2020 Placing, the Company issued “A” and “B” warrants on a 3-year term. All unexercised “A” and “B” warrants have now expired.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (“UK MAR”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason Robertson
#TEK TekCapital Plc – Guident Update
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people’s lives, is pleased to provide a progress report on Guident Ltd. (“Guident”).
Guident is developing remote monitoring and control software to improve safety of autonomous vehicles and land-based delivery devices. Guident’s software will incorporate artificial intelligence and advanced network technologies to minimize signal latency and help improve the safety of autonomous vehicles.
Since the start of 2023, Guident has enjoyed greater commercial traction and its sales pipeline grow as a result of meetings with new strategic partners and prospective customers. A strategic workshop also took place where Guident agreed on the R&D roadmap for 2023, including a newly defined order process and product names for the Remote Monitoring and Control Center solution (RMCC) and the Regenerative Shock Absorber (RSA) and its components.
Guident will shortly deploy its RMCC service for the Jacksonville Transportation Authority (JTA) and expects the first Purchase Order from the contract shortly. Management visited JTA in February 2023 which resulted in defined actions for the deployment of Guident’s proprietary teleoperation solution by May 2023.
RMCC
As announced on 17 Februry 2023, Guident signed a letter of intent with Auve Tech a developer and manufacturer of autonomous transportation systems . Guident’s management team also visited Auve Tech with a view to deploying turn-key solutions consisting of Guident’s teleoperation software being included with Auve Tech’s level-4 Autonomous vehicles to potential customers in the US, Europe, and Asia.
Meeting Auve Tech Leadership Team in Estonia 2023
Auve Tech Autonomous Level-4 Shuttle
The Company is also finalizing its contract with the Boca Raton Innovation Campus (BRiC) to provide AV shuttle services, together with its partners. Guident’s will update the market on the successful execution of this project in due course.
BRIC Campus and Proposed Autonomous Shuttle Route Map
Lastly, Guident has partnered with Novelsat to provide space connectivity for AVs under the Space Florida project. Space Florida was created to strengthen Florida’s position as a global leader in aerospace research, investment, exploration, and commerce by leveraging NASA’s research ecosystem. We believe that such connectivity would further enhance Guident’s competitive advantage by adding an always available, low earth orbit monitoring solution, for its remote monitoring and control centres.
LEO Satellites to be Used by Guident for System Redundancy
The Market
According to Triton Market Research “ the last mile AV autonomous vehicle delivery market is expected to reach $41.7 billion by 2028 with a CAGR of 19%. Contactless or “touch-free” delivery is in high-demand since the COVID 19 pandemic and Guident believes this increased demand will accelerate the roll-out of land-based delivery drones for pedestrians, food and medicines to improve their availability and reduce the costs of these deliveries.
About Guident
Guident commercializes new technology to enhance the safety, efficiency and utility of autonomous vehicles and ground-based drones using its proprietary IP & software apps for remote monitoring and control. To learn more please visit www.guident.co
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
Tekcapital owns 100% of the share capital of Guident Ltd. Guident Ltd owns approximately 91% of Guident Corp., its US subsidiary.
For further information, please contact:
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Tekcapital Plc |
V ia Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (Corporate Broking) |
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
Tim Thompson/Andrea Seymour/Fergus Mellon
#TEK TekCapital PLC – Placing to raise £2.25 Million(C.US$2.7M)
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products that can improve people’s lives announces that it has raised a total of £2.25 million (c.US$2.7m) before expenses, in an oversubscribed placing from existing and new shareholders, by way of the issue of, in aggregate, 14,062,500 new ordinary shares of 0.4 pence each in the Company (the “Ordinary Shares”), at a price of 16 pence per share (the “Placing Shares”) (together, the “Placing”).
The net proceeds of the Placing will primarily be used to accelerate the growth of the Company’s portfolio companies. The Placing was undertaken by the Company’s broker SP Angel Corporate Finance LLP.
Key Highlights:
– £2.25m (US$2.7m) before expenses was raised by means of a fundraise through the issue of, in aggregate 14,062,500 Placing Shares at 16 pence per Placing Share.
Funds raised will be used as follows:
– £0.6m to build commercial inventory of MicroSalt Limited
– £1m to purchase autonomous shuttles for Guident’s Remote Control Monitoring Centre clients and for fabrication and testing of their regenerative shock absorbers for prospective clients
– the remainder of the funds raised will primarily be for additional working capital.
Admission and Total Voting Rights
Application has been made for the 14,062,500 Placing Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective on or around 23 February 2023.
Following the issue of the 14,062,500 Placing Shares, which on Admission will rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 164,754,828. There are no shares held in treasury.
The above figure of 164,754,828 Ordinary Shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc commented:
“We are pleased to announce this oversubscribed offering to facilitate the further good progress of our portfolio
companies.“
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:
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Tekcapital Plc |
Via Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) |
+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance) |
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Abigail Wayne (Corporate Broking) |
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
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Tim Thompson/Andrea Seymour/Fergus Mellon |
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#TEK Tek Capital PLC – US Salt forms Strategic Partnership with MicroSalt
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products that can improve people’s lives, is pleased to announce that MicroSalt has entered into an agreement with US Salt LLC (“US Salt”) for the distribution and delivery of MicroSalt’s low-sodium solutions.
“We are proud to work with US Salt in their efforts to offer low-sodium solutions to their customer base. US Salt as a leader in salt distribution, offering lower sodium as an active option in its ingredient listing. Excess sodium intake is one of the world’s leading health concerns, and we believe that partnerships like this are a great way to expand our efforts to address the sodium reduction challenge.” Said Rick Guiney, CEO of MicroSalt”
“US Salt is looking forward to working with MicroSalt® to help with our low-sodium initiatives. Sodium is a worldwide concern in the food industry, and we believe Rick and his team are the industry leaders that can help propel our future growth.” Said Bob Jordan, Vice President of Sales & Marketing of US Salt LLC.
This partnership is expected to strengthen each companies’ respective market positions as leaders in the sodium reduction effort, through expanding the customer base for MicroSalt and the product offerings for US Salt, with healthy, lower sodium alternatives.
About US Salt LLC
US Salt, LLC is currently responsible for producing and distributing over 90% of the private label, round can salt business in the United States. US Salt currently produces and packs 26-ounce private label table salt, as well as a complete portfolio of quality round can table salt items to meet all salt seasoning needs. To learn more about US Salt, visit www.ussaltllc.com.
About MicroSalt, Ltd
MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples’ lives with better-for-you seasonings and snacks by taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavour because it is salt. Our new patented technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavor consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc.
To learn more about MicroSalt please visit www.microsaltinc.com
To learn more about SaltMe! snacks please visit www.saltme.com/
Tekcapital owns 97% of the share capital of MicroSalt Ltd. and 6,034,683 shares (78%) of MicroSalt Inc., its U.S. subsidiary.
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.
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LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
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Tekcapital Plc |
Via Flagstaff IR |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0) 20 3470 0470 |
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Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)
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Flagstaff Strategic and Investor Communications Tim Thompson/Andrea Seymour/Fergus Mellon
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+44 (0)207 129 1474 |
