Admission to trading on AIM

Alteration Earth PLC

30 December 2024

 

30 December 2024

Alteration Earth PLC

(to be renamed Pri0r1ty Intelligence Group PLC)

Completion of acquisition of Pri0r1ty AI Limited and fundraising and

admission to trading on AIM

Total voting rights

Alteration Earth PLC (to be renamed Pri0r1ty Intelligence Group PLC) ("ALTE" or the "Company") is pleased to announce the admission of its entire issued share capital to trading on the AIM Market of the London Stock Exchange today ("Admission") whereupon the acquisition of Pri0r1ty AI Limited ("Pri0r1ty") and fundraising of £0.9 million will complete. Dealings in the Company's ordinary shares will commence on AIM today at 8:00 a.m. under the TIDM/ticker symbol "ALTE". The Company will shortly change its name to Pri0r1ty Intelligence Group PLC and accordingly, its TIDM/ticker symbol will change to PR1. A further announcement will be made once this is completed. The ISIN and Sedol will remain unchanged.

Pri0r1ty is a London based SaaS company which empowers SMEs with cost-effective AI tools to automate processes like social media, investor relations, and governance. Its platform, Pri0r1ty Advisor, delivers tailored solutions using deep learning, spanning financing, marketing, and custom AI bots for client-specific needs.

Key Highlights:

·      Completion of the acquisition of Pri0r1ty AI Limited

·      Fundraising via a placing and subscription raised gross proceeds of £855,000.

·      Based on the issue price of 13.5pence per Share, the market capitalisation of the Company will be approximately £13 million at Admission.

·      Following Admission the Company will have 96,333,329 ordinary shares in issue.

·      Dealings in the Company's ordinary shares will commence on AIM at 8.00 a.m. today under the ticker "ALTE".

·      Company name to be changed to Pri0r1ty Intelligence Group plc.

The Company's AIM Admission Document has further details, which is available on the Company's website www.altearthplc.com . With effect from Admission, the Company's website will be www.pri0r1ty.com.

James Sheehan, CEO, said:

"Pri0r1ty AI was set up to meet a very real and growing challenge. SMEs spend huge amounts of money - over £60 billion a year - on external professional services providers when so many of these tasks can be automated using AI. With our technology, companies can use advisors for what they do best, high-end strategic support and technical value-add specialist services, and make the whole process more efficient and cost-effective by letting AI handle many of the everyday tasks.  Our solution provides users with a suite of AI-tools that enables the efficient scaling of their business."

Daniel Gee, a Pri0r1ty AI founder and major shareholder, said:

"Today marks a significant step forward in achieving a huge milestone for me personally, for the company and the UK scale-up tech sector. Since my early days working in the City it has always been a dream to bring a company to market, and I am so proud of everything the whole team has achieved. Too many early-stage British tech companies think that the only route to growth is through VC funding, or even moving abroad, but I want to send a message that the LSE and the UK capital markets can be a smart and viable route to growing a successful tech company".

Total Voting Rights

On Admission, the issued share capital of the Company will comprise 96,333,329 ordinary shares of 0.3 pence each with one voting right per share ("Ordinary Shares"). The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares and voting rights in the Company is therefore 96,333,329. This figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Alteration Earth Plc Matthew Beardmore, Chairman James Sheehan, CEO	Tel:  [phone] Email: [e-mail]
Nominated Adviser - Beaumont Cornish Limited James Biddle/ Roland Cornish	Tel: [phone]
Broker - Allenby Capital Limited Kelly Gardiner - Equity Sales & Corporate Broking Jeremy Porter/ Piers Shimwell - Corporate Finance	Tel: [phone]
PR Advisers to Pri0r1ty - Camarco Marc Cohen, Gabriel Hedengren, Emily Hall	Tel: [phone] [e-mail]

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in the announcement or any matter referred to in it.

Allenby Capital Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company as its Broker and is not acting for and will not be responsible to any other person for providing protections afforded to customers of Allenby Capital nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

END