RNS Number : 5464K
StreaksAI PLC
29 August 2023
 

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

29 August 2023

 

StreaksAI PLC

 

("StreaksAI" or "the Company")

 

Change of Board Composition & Issue of Equity and Warrants

 

StreaksAI (LSE: STK), a UK-based provider of AI-focused conversational gaming "Streaks Gaming" and the newly announced Social AI platform for influencers "Streaks Social", is delighted to announce the appointment of Philip Blows as Chief Executive Officer with immediate effect.

 

Phil has been Executive Director of StreaksAI since 20 February 2023. With the impending launch of StreaksAI's social AI platform for influencers, Streaks Social, the Company will benefit greatly from Phil's experience in building and scaling multiple retail-focused platforms, including his previous positions as CEO of AQRU PLC, which owned and operated a cryptocurrency retail trading application, and as Director of Wealth Wizards, a UK-based robo-advice platform.

 

Mark Rutledge, who has been Chief Executive Officer throughout the IPO period and the launch of StreaksAI, will become Non-Executive Director of StreaksAI with immediate effect. The Board of Directors would like to thank Mark for all his efforts as Chief Executive of the Company and for providing a solid operating platform on which to build.

 

Issue of Equity

 

StreaksAI also announces the issue of 420,000 Ordinary Shares of £0.001 per share ("Ordinary Shares") (the "Fee Shares") in respect of the commission due to Tennyson Securities in relation to services rendered to the Company. The Fee Shares have been issued at an issue price equivalent to £0.03 per Share. The Fee Shares rank pari passu with existing shares in issue.

 

Issue of Warrants

 

The Company has also granted Tennyson Securities 420,000 warrants to subscribe for new Ordinary Shares ("Warrants") pursuant to the engagement letter with Tennyson Securities. The Warrants have a strike price of £0.03 and expire on 4 January 2028.

 

Admission

 

Application will be made to the Financial Conduct Authority ("FCA") for admission of the Fee Shares to the standard listing segment of the Official List and to the London Stock Exchange (the "LSE") for admission to trading of the Fee Shares on the LSE's Main Market for listed securities (together "Admission"). It is expected that Admission will take place at or around 8.00 a.m. on 1 September 2023.

 

Following Admission, the Company's issued share capital will consist of 378,732,535 Ordinary Shares with voting rights. The Company does not currently hold any Ordinary Shares in treasury.

 

This figure, 378,732,535, 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 DTR.

 

Philip Blows, Chief Executive Officer of StreaksAI, commented: "I'm delighted to be appointed as CEO at such an exciting point in the Company's development, following the launch of our groundbreaking Streaks Socials product. Artificial intelligence is revolutionising communication, and StreaksAI is allowing influencers to communicate in their distinctive styles with their fans, whilst simultaneously providing fans with personalised interactions. I am looking forward to building a strong business for our customers and delivering long-term value for our shareholders, as we work to redefine the frontiers of AI in the social and gaming domains."

 

For further information please contact:

StreaksAI PLC


Mike Edwards

 

Non-Executive Chairman

via First Sentinel

+44 203 989 2222

Tennyson Securities


Corporate Broker

Peter Krens

 

+44 207 186 9030

First Sentinel

 

Corporate Broker

Brian Stockbridge

 

+44 203 989 2200

Tancredi Intelligent Communication


Media Relations

Helen Humphrey

Charlie Hobbs

Jasmine Gadhavi

stai@tancredigroup.com

 

+44 744 922 6720

+44 7897 557112

+44 7931 435236

 

About Streaks:

StreaksAI PLC is a provider of AI based conversational technologies. The Company offers two core products in the gaming and conversational AI space.

 

For more information on the Conversational Gaming AI product, please visit www.playstreaks.com.

 

For more information on the Conversational AI product, please visit www.streaks.ai.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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.
 
END
 
 
BOAPPMPTMTMTBTJ