TIDMALB
RNS Number : 8763P
Albert Technologies Ltd
31 May 2018
THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION (EU) 596/2014 (MAR). ON PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
31 May 2018
Albert Technologies Ltd.
("Albert Technologies" or the "Company")
Result of Conditional Placing & Notice of General
Meeting
The Board of Albert Technologies, the global software company
with a proprietary developed autonomous artificial intelligence
marketing platform, is pleased to announce that further to the
announcement made at 7.00 a.m. today (the "Placing Announcement"),
Cantor Fitzgerald has successfully placed, conditional on
shareholder approval, an aggregate of 36,756,757 Placing Shares on
behalf of the Company at a price of 37 pence per share, with new
and existing institutional shareholders. The Placing, which was
oversubscribed, has received strong support from both new and
existing institutional shareholders.
Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the Placing
Announcement.
Or Shani, founder and CEO of Albert Technologies, said:
"We're delighted with the strong support from investors, both
existing shareholders and new investors, for this oversubscribed
placing. Significant change has taken place at the Company over the
last 18 months, and we're seeing considerable momentum in both
interest in and engagement with our proprietary Albert technology.
The new funds will allow the Company to build on the growing
interest in the benefits of AI to digital advertising. Albert can
provide the solution to both enterprises and media agencies seeking
to use AI technology to execute their digital marketing campaigns.
The market for AI technology is forecast to grow to US$40 billion
in value by 2025 and we're aiming for Albert to be an important
beneficiary of this sizeable market opportunity in digital
marketing."
Details of the Placing and Notice of General Meeting
The Placing is subject to approval at the General Meeting and
the conditions as outlined in the RNS released at 7.00 a.m. this
morning. The Placing Shares will represent approximately 37.1% of
the Enlarged Issued Share Capital immediately following Admission.
The Placing Price represents a discount of approximately 1.3% to
the closing price of 37.5 pence per Ordinary Share on the Latest
Practicable Date. Upon Admission, the Enlarged Issued Share Capital
is expected to comprise 99,165,077 Ordinary Shares.
As set out in the Placing Announcement, the Company confirms
that it will today dispatch a notice to convene a meeting at the
offices of Bryan Cave Leighton Paisner LLP, Adelaide House, London
Bridge, London EC4R 9HA at 10.00 a.m. on 22 June 2018 for the
purpose of considering and, if thought fit, the passing of the
resolutions to approve, amongst other things, the authority to
issue the Placing Shares.
The notice of General Meeting will be dispatched today to
shareholders and will be available on the Company's website
www.albert.ai.
Admission to Trading on AIM
Application for admission to trading on AIM for the Placing
Shares will be made in due course and, if the resolutions to issue
these shares are passed at the General Meeting to be held on 22
June 2018, it is expected that Admission will take place on or
around 25 June 2018. The Placing Shares will rank pari passu with
the existing Ordinary Shares.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following the Placing, its issued share capital will
comprise 99,165,077 Ordinary Shares of NIS 0.01 upon Admission. All
of these Ordinary Shares have equal voting rights and none of the
Ordinary Shares are held in treasury. The total number of voting
rights in the Company will therefore be 99,165,077 upon
Admission.
For further information, please contact:
Albert Technologies Ltd
Or Shani, Chief Executive Officer Tel: +972 3537 7137
Yoram Freund, Chief Financial Officer
https://albert.ai/
Cantor Fitzgerald Europe
Marc Milmo
Catherine Leftley +44 (0)20 7894 7000
Powerscourt
Elly Williamson
John Elliott +44 (0)20 7250 1446
About Albert Technologies
Founded in 2010, Albert Technologies Ltd. (AIM: ALB.L), a global
software company, is the creator of Albert - the first-ever fully
autonomous artificial intelligence marketing platform, driving
digital marketing campaigns from start to finish for some of the
world's leading brands. Albert's mission is to liberate businesses
from the complexities of digital marketing - not just by
replicating their existing efforts, but by executing them at a pace
and scale not previously possible. Albert serves as a highly
intelligent and sophisticated member of brands' marketing teams,
wading through massive amounts of data, converting this data into
insights, and autonomously acting on these insights, across
channels, devices and formats, in real time. This eliminates the
manual and time-consuming tasks that currently limit the
effectiveness and results of modern digital advertising and
marketing. Brands such as The Big Red Group, Gallery Furniture and
Dole Asia, and global advertising agencies, credit Albert with
significantly increased sales, an accelerated path to revenue, the
ability to make more informed investment decisions, and reduced
operational costs.
The Company's core focus is its SaaS Sales Channel, which offers
its artificial intelligence-based software, Albert, to brands using
a SaaS model. Albert Technologies Ltd. listed in 2015 to accelerate
both investment into and commercialisation of Albert.
The Company and its management received 18 awards in 2017,
including being named as Gartner Cool Vendors in Advertising, an
International Stevie Award for "Best New Product of the Year," the
"Market Disruptor" Award from the Masters of Marketing, and being
named "AI Application of the Year" by the Global Annual Achievement
Awards for AI. Albert CEO, Or Shani, was recognized as Innovator of
the Year (bronze) in the International Stevie Awards and was chosen
for the DMN 40 Under 40 List. Amy Inlow, Albert CMO, was named a
winner in the DMN Hall of Femme Awards and the American Business
Awards (gold).
About Albert
Albert replaces the human campaign manager in managing brands'
online advertising campaigns. A brand provides Albert with access
to its Google, Facebook, Bing, Twitter and other online marketing
channels. When a brand manager wishes to launch a new online
advertising campaign, all that is needed is to simply log into
Albert and deploy that new campaign, which is usually no more than
a 15-minute task.
Albert autonomously creates hundreds of micro campaigns across
all relevant online marketing channels (Google, Facebook, Bing,
Twitter, Instagram, Display, Email, etc.), then reviews these
hundreds of micro campaigns every few minutes and optimises each of
them as needed. Albert works in very much the same way that a human
campaign manager would, making correlation and cost/benefit-based
decisions.
Where an experienced campaign manager could possibly make circa
100 decisions per day, Albert can make thousands per minute.
Albert's ability to launch hundreds of micro strategies and review
and amend them all every few minutes typically brings about a
significant increase in ROI. In addition, all learnings from the
decisions made remain in-house, and the brand has full and instant
transparency and can easily scale up marketing activities through
larger budgets or applications to new brands and new geographies,
without hiring new expert campaign managers.
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.
END
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