This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

24 August 2021

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Portfolio Company Update: Lucyd Ltd ("Lucyd")

Director Appointments

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve quality of life, is pleased to announce that portfolio company Lucyd's Innovative Eyewear subsidiary has appointed Kristen Mclaughin to its board as a non-executive director. 

Kristen has a distinguished career in the optical industry where she has served as director of marketing for Silhouette International and brand manager for Daniel Swarovski Crystal Eyewear. In 2017, Kristen was honored as one of the most influential woman in eyewear by Vision Monday, a leading publication in optics.

The Innovative Eyewear, Inc. board currently consists of Executive Chairman Harrison Gross, Frank Rescigna, VP Global Sales, Olivia ("Dibby") Bartlett, President of the Options Association of America, and Louis Castro, Chair of Audit.

Harrison Gross, Lucyd cofounder and CEO said, "We are delighted to announce the appointment of Kristen Mclaughlin to Innovative Eyewear's board. Her significant marketing achievements and operational experience are highly relevant as we seek to position Lucyd Lyte^® as the leading, global smart eyewear brand for prescription and sunglass users. Her appointment rounds out a diversified board dedicated to bringing smart eyewear mainstream."

About Lucyd and Innovative Eyewear Inc.

Lucyd's mission is to Upgrade your Eyewear^® with advanced ergonomic frames that are easy to use, fun to wear, and help you stay safely connected to your digital life. The Lucyd brand and IP portfolio are exclusively licensed to and operated by Innovative Eyewear, Inc. To learn more, or order Lucyd Lyte, please visit https://lucyd.co. 

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and approximately 80% of the share capital of its U.S. operating subsidiary, Innovative Eyewear, Inc.

For further information, please contact:

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.