Convertible Loan Facility Agreement and Drawdown

RNS Number : 4425X

Insig AI Plc

30 August 2022

 

30 August 2022 

Insig AI plc

("Insig AI" or the "Company")

Convertible Loan Facility Agreement and drawdown

Insig AI plc (AIM: INSG), the data science and machine learning group, announces that on 26 August 2022 a further £240,000 was drawn down on the convertible loan facility agreements with Richard Bernstein and David Kyte as announced on 4 May and 17 June 2022 and respectively.

As previously announced the cash drawn down will be in tranches as required by the Company. On 26 August 2022, a fourth tranche of 160,000 was drawn down on the convertible loan facility provided by Richard Bernstein, meaning a total of 793,334 has now been drawn down under that facility agreement of £1.0 million. A third tranche of 80,000 was also drawn down on the same day, on the convertible loan facility provided by David Kyte, meaning a total of 396,666 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 Capital Limited (Nominated Adviser & Broker) David Foreman / James Hornigold / Danny Philips	[phone]
SEC Newgate (Financial PR) Robin Tozer / Richard Bicknell	[phone] [e-mail]

 

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