Alteration Earth PLC (to be renamed Pri0r1ty Intelligence Group PLC (PR1) announced the admission of its entire issued share capital to trading on the AIM Market of the London Stock Exchange today, whereupon the acquisition of Pri0r1ty AI Limited and fundraising of £0.9 million will complete.
Dealings in the Company’s ordinary shares will commence on AIM today at 8:00 a.m. under the TIDM/ticker symbol “ALTE”. The Company will shortly change its name to Pri0r1ty Intelligence Group PLC and accordingly, its TIDM/ticker symbol will change to PR1. A further announcement will be made once this is completed. The ISIN and Sedol will remain unchanged.
Pri0r1ty is a London based SaaS company which empowers SMEs with cost-effective AI tools to automate processes like social media, investor relations, and governance. Its platform, Pri0r1ty Advisor, delivers tailored solutions using deep learning, spanning financing, marketing, and custom AI bots for client-specific needs.
Key Highlights:
· Completion of the acquisition of Pri0r1ty AI Limited
· Fundraising via a placing and subscription raised gross proceeds of £855,000.
· Based on the issue price of 13.5pence per Share, the market capitalisation of the Company will be approximately £13 million at Admission.
· Following Admission the Company will have 96,333,329 ordinary shares in issue.
· Dealings in the Company’s ordinary shares will commence on AIM at 8.00 a.m. today under the ticker “ALTE“.
· Company name to be changed to Pri0r1ty Intelligence Group plc.
The Company’s AIM Admission Document has further details, which is available on the Company’s website www.altearthplc.com . With effect from Admission, the Company’s website will be www.pri0r1ty.com.
James Sheehan, CEO, said:
“Pri0r1ty AI was set up to meet a very real and growing challenge. SMEs spend huge amounts of money – over £60 billion a year – on external professional services providers when so many of these tasks can be automated using AI. With our technology, companies can use advisors for what they do best, high-end strategic support and technical value-add specialist services, and make the whole process more efficient and cost-effective by letting AI handle many of the everyday tasks. Our solution provides users with a suite of AI-tools that enables the efficient scaling of their business.”
Daniel Gee, a Pri0r1ty AI founder and major shareholder, said:
“Today marks a significant step forward in achieving a huge milestone for me personally, for the company and the UK scale-up tech sector. Since my early days working in the City it has always been a dream to bring a company to market, and I am so proud of everything the whole team has achieved. Too many early-stage British tech companies think that the only route to growth is through VC funding, or even moving abroad, but I want to send a message that the LSE and the UK capital markets can be a smart and viable route to growing a successful tech company”.
