LONDON: High Growth Capital Plc (HGC) has announced that agreement has been reached in principle to acquire an additional 5.0% of the current issued share capital in Sentiance N.V, the international AI, machine learning, data science and behavioral change company.
Following the completion of the acquisition, which is expected to take place shortly, HGC will own 15.0% of the current equity share capital of Sentiance.
The consideration of £7.0 million will be settled in full through the issue of 875 million ordinary shares in the company at a price of 0.80 pence credited as fully paid to a number of independent family offices and investors, including RRNB Capital Ltd (RRNB), who have participated in the financing of the arrangements to become shareholders in HGC. This consideration implies an exchange ratio of 1 Sentiance: 175,000 HGC shares versus a 1:250,000 ratio in the original transaction that completed on 5 November 2018.
Jens Zimmermann Chairman of HGC said; “We have a bold vision that the current digital, proprietary content, human connectivity landscape will change fundamentally in the years to come. HGC is going to play a pivotal role in this positive and much needed transformation. Sentiance is a down to earth agile global organisation. Its distinct DNA, proprietary technology, Tier I clients and proven skill sets combined with their pragmatic forward roadmap are all first class.”
Toon Vanparys, CEO of Sentiance said: “We expect to further accelerate our growth and extend our position as a global market leader in AI driven motion intelligence solutions in the mobility, health and O2O industries. The incremental investment in our proprietary behavioural change expertise will deliver enhanced end to end solutions to our clients and our partners enabling them to create highly personalised and bespoke services and products for their users. A number of recent high-profile client wins further validate this approach. Based on the interactions we have with HGC and our new investor teams, our near term objectives will result, once fully implemented, in a long lasting mutually beneficial outcome for all stakeholders.”[the_ad id=”31605”]