Results of reserve for share premium distribution

Substrate Artificial Inteligence,SA

07 November 2024

 

7 November 2024

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

Results of reserve for share premium distribution

Substrate AI (AQUIS: SAI/SAI.B) announces that, as per the resolution passed in the Extraordinary General Meeting of shareholders on 26 July 2024, it was agreed the distribution of the reserve for share premium in kind in a maximum amount of €1,500,000 through the delivery of ordinary shares of the share capital of the wholly-owned subsidiary Subgen AI Limited ("Subgen AI"), or alternatively, the cash payment equivalent to the proposed share premium reserve distribution in kind, at the choice of the shareholders (the "Distribution").

In accordance with the procedure established to carry out the Distribution as communicated to the market and in response to the communications received from the shareholders, the results of the Distribution are as follows:

Of the class A shares, the shareholders who have responded account for 99.43% of the class A shares, of which 93.94% have chosen the payment of premium in kind in Subgen AI shares, and the remaining 6.06% the payment in cash.

As for the Class B shares, the shareholders who have responded are equivalent to 99.85% of the Class B shares, of which 100% have chosen the payment of premium in kind in Subgen AI shares.

The Company will therefore distribute to the shareholders of the Company entitled to participate in the Distribution: (i) a total of 115,276,486 shares of Subgen AI, representing 76.85% of its share capital, the remainder being held by the Company (i.e., 34,721,456 shares of Subgen AI, representing 23.15% of its share capital); and (ii) a total of 80,421.47 euros.

The Directors of Substrate AI accept responsibility for this announcement.

For further information, please contact:  

Substrate AI
Lorenzo Serratosa  Chairman	[e-mail]
First Sentinel Corporate Finance   Corporate Advisors
Brian Stockbridge	[phone]

About Substrate AI: Substrate AI is an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, or health. All of them sell products and services built on the bio-inspired reinforced learning technology developed and patented by Substrate AI. 

 

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