2 October 2024 

GenIP Plc

("GenIP" or the "Company")

Admission to Trading on AIM

&

First Day of Dealings

GenIP plc, a technology business operating within the Generative Artificial Intelligence (GenAI) space, providing complementary platform-based services, is pleased to announce the admission of its entire issued share capital to trading on AIM, a market operated by London Stock Exchange plc, at 8.00 a.m. today under the ticker 'GNIP' ("Admission"). The Company's Admission Document, as well as other information required pursuant to AIM Rule 26, are available on the Company's website www.genip.ai.

Admission follows a Placing by Novum Securities Limited ("Novum"), as well as a Company Subscription, for a combined total of 4,487,179 Ordinary Shares at 39p per ordinary share of £0.00425 each (the "Fundraising Price"), raising gross proceeds of £1.75 million (increased from an original target fundraise of £1.5m), before expenses (the "Fundraising"). Novum acted as Sole Broker and Beaumont Cornish Limited acted as the Nominated Adviser in relation to the Admission.

Placing Statistics:

About GenIP

GenIP® provides generative artificial intelligence (GenAI) analytic services to help companies, research institutions and venture funds assess and commercialise new discoveries. GenIP combines expert human technical review with GenAI algorithms to provide insightful and verified services.

GenIP provides two complementary platform-based services:

1.   Invention Evaluator: Provides bespoke research reports that assess the market potential of new technological innovations and discoveries using AI-driven proprietary software; and

2.   Vortechs: which is an executive recruitment platform that through advanced machine learning algorithms and natural language processing technologies assists in matching technology organisations with experienced executives and business leaders.

The Company believes that its integrated GenAI service offerings will help organisations to evaluate and commercialise their technological innovations. 

Company Strategy

GenIP's goal is to create a leading Generative AI analytic services company. To achieve this, the Company has established three strategic pillars:

·    Organically grow InventionEvaluator and Vortechs' revenue through institutional and corporate connections as well as increase client pipeline through marketing, advertising and social media spend.

·    Expand the Generative AI service offerings within InventionEvaluator and Vortechs' to reach new customers and improve margins.

·    Bolt-on acquisitions of additional Generative AI services that are helpful to our clients and have demonstrated initial market traction. 

Work Programme and Use of Proceeds

The gross proceeds of the Fundraising are principally expected to be used to:

-      launch a comprehensive ecommerce sales and marketing programme (approximately £450,000);

-      provide general working capital for the Company (approximately £750,000); and

-      meet the costs and expenses of the Fundraising and Admission (approximately £550,000).

Board of Directors

Lord David Willetts - Non-Executive Chairman

The Rt Hon Lord Willetts FRS is Chairman of the U.K. Space Agency, President of the Resolution Foundation and former U.K. Minister for Universities and Science. He served as the Member of Parliament for Havant (1992-2015), and previously worked at HM Treasury and the No. 10 Policy Unit. Lord Willetts is also a visiting Professor at King's College London, former Chair of the British Science Association and a member of the Council of the Institute for Fiscal Studies. Lord Willetts is a graduate of Oxford University.

Melissa Cruz - Chief Executive Officer

Melissa as part of her CEO function helps global clients create marketplace value from university-developed IP. With a background in marketing and sales, Melissa collaborates with a diverse set of organizations in the United States, China, Europe, and Latin America to facilitate technology transfers between developed and developing countries. Melissa received her B.A. in International Business and an M.S. in Marketing from Florida International University.

Kevin Fitzpatrick - Chief Financial Officer

Kevin is a CFO/Finance Director with over 20 years' experience in SME and entrepreneurial businesses across various sectors and industries including Tech, SaaS, Media, and Retail.  He has held numerous board positions with both quoted public and private businesses with full executive responsibility for finance, legal and corporate finance. He graduated from University College Dublin with a BA(Hons) in Economics and qualified as a Chartered Accountant with Deloitte.

Dr. David Gann - Independent Non-Executive Director

Professor David Gann CBE is a business leader, chairperson, former University leader, and non-executive director with a reputation for creating and supporting innovation and growth, and mentoring science-based start-ups. He is a leader in the development of fusion energy, as Chair of UK Industrial Fusion Solutions, and previously Chair of the UK Atomic Energy Authority. He is a non-executive director of VenCap International plc, a leading venture fund-of-funds. David is an entrepreneur, having formed several companies, mentors start-ups, and advises Boards. He has been non-executive director of Directa Plus plc, currently on the Advisory Board of Euroclear and was Group Innovation Executive at Laing O'Rourke plc.

Melissa Cruz, CEO of GenIP, commented:

"I'm thrilled that GenIP has captured the attention of London's technology-focused investment community. I'm looking forward to demonstrating GenIP's revenue-generating capabilities as we assist our clients in commercialising leading technological innovations."

Lord David Willetts, GenIP's Non-Executive Chairman, commented:

"GenIP has laid the foundations for robust growth, and I'm delighted to have the opportunity to lead the board as we deliver Generative AI analytics services to some of the world's leading research institutions."

For further information regarding GenIP, please contact:

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. 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 this announcement or any matter referred to in it.

AIM Admission Document

Available at https://genip.ai/

The dealing codes for the Ordinary Shares are as follows:

Total Voting Rights

For the purposes of the Disclosure Guidance and Transparency Rules ("DTRs") of the Financial Conduct Authority ("FCA"), the total number of Ordinary Shares with voting rights in the Company as at the date of this announcement is 17,517,461.  This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's DTRs.

Capitalised terms used in this announcement and not separately defined shall have the meaning given to them in the Company's Admission Document.

Important Notices

This announcement does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment whatsoever relating to any securities.

Recipients of this announcement who intend to purchase or subscribe for Ordinary Shares in the Company are reminded that any such purchase or subscription must only be made solely on the basis of the information contained in the final Admission Document relating to the Company.

This announcement does not constitute an offer of securities in the United States or to US Persons. Ordinary Shares of the Company may not be offered or sold in the United States or to US Persons without being registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act") or an available exemption from such registration. The Company does not presently intend to register any securities under the U. S. Securities Act and no public offering of shares is being or will be made in the United States or to US Persons.

The information contained in this announcement is not for publication or distribution in, into or from the United States, Australia, Canada, Japan, South Africa or New Zealand or any other jurisdiction where to do so might constitute a violation or breach of any applicable law ("Restricted Territories"). Any failure to comply with these restrictions may constitute a violation of Restricted Territories securities laws. This announcement (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the Restricted Territories where such an offer or solicitation would be unlawful. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.

Beaumont Cornish Limited ("BCL"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company as nominated adviser in connection with the Placing and Admission. BCL are not acting for any other person and will not be responsible to any other person for providing the protections afforded to customers of BCL, or for advising any other person in connection with the Placing or Admission. The responsibility of BCL, as the Company's nominated adviser, is owed solely to the London Stock Exchange and is not owed to the Company or the Directors or any other person. No representation or warranty, express or implied, is made by BCL or any of its directors, officers, partners, employees, agents or advisers as to the contents of this Document (without limiting the statutory rights of any person to whom this Document is issued). No liability whatsoever is accepted by BCL or any of its directors, officers, partners, employees, agents or advisers for the accuracy of any information or opinions contained in this Document or for the omission of any material information for which it is not responsible.

Novum Securities Limited ("NSL"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company as broker in connection with the Placing and Admission. NSL are not acting for any other person and will not be responsible to any other person for providing the protections afforded to customers of NSL, or for advising any other person in connection with the Placing or Admission. No representation or warranty, express or implied, is made by NSL or any of its directors, officers, partners, employees, agents or advisers as to the contents of this Document (without limiting the statutory rights of any person to whom this Document is issued). No liability whatsoever is accepted by NSL or any of its directors, officers, partners, employees, agents or advisers for the accuracy of any information or opinions contained in this Document or for the omission of any material information for which it is not responsible.

Forward looking statements

Certain statements contained in this announcement constitute forward-looking statements. When used in this announcement, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial position, liquidity, prospects, growth, strategies and expectations of the industry in which the Company operates.

Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to materially differ from those described in this announcement Should one or more of these risks or uncertainties materialise, or should assumptions underlying forward-looking statements prove incorrect, actual results may differ materially from those described in this announcement as "intended", "planned", "anticipated", "believed", "proposed", "estimated" or "expected".

For the avoidance of doubt, the contents of the Company's website and any hyperlinks accessible from the Company's website are not incorporated by reference into, and do not form part of, this announcement and investors should not rely on them.

-ENDS-