TIDMNLG
RNS Number : 9048N
Arria NLG PLC
31 October 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO, OR FROM ANY JURSIDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR")
31 October 2016
Arria NLG plc
("Arria NLG" or the "Company")
Update on trading and proposed NZX listing
Arria NLG (AIM: NLG), a leader in Artificial Intelligence and
Natural Language Generation ("NLG"), is pleased to provide the
following updates.
Update on the proposed listing on the New Zealand Stock Exchange
("NZX Listing"), Australian Stock Exchange and Main Market of the
London Stock Exchange.
The Board of Arria NLG is pleased to announce that:
1. it has now submitted the draft offer document (required in
connection with the NZX Listing) to the New Zealand Financial
Markets Authority (FMA) for review; and
2. an explanatory circular will soon be mailed to all
shareholders in order to approve and implement moving Arria NLG's
primary listing to the New Zealand Stock Exchange (the "NZX") and
cancellation of trading on AIM of the Company's ordinary shares and
warrants.
Further announcements on this matter will be made in due
course.
Update on financial position and trading
The Company's financial results for the year ended 30 September
2016 will be announced in the coming weeks. The Directors of Arria
NLG are pleased to announce that they expect both revenue and
adjusted loss before interest, tax, depreciation and amortisation
to be in line with the Board's expectations. As anticipated, the
rapidly increasing inbound demand for the Company's NLG
technologies that was experienced in the last quarter continues to
gather momentum in this quarter. The Company continues to invest in
developing its NLG technologies and in building its capabilities to
deploy its technologies and support its customers globally.
Arria NLG continues to fund the on-going development of its NLG
technologies and expansion of its markets through the private
placement of its securities to raise funding. Arria NLG's capital
requirements are supported by its founding shareholders who, since
inception, have arranged over GBP35 million of capital for the
Company, and over GBP3m has been committed within the last four
months as momentum for Natural Language Generation gathers speed.
The Board of Arria NLG is very pleased to announce that this group
of founding shareholders has again reaffirmed its on-going
commitment to funding: 1) Arria NLG's core development and
expansion plan; and 2) the substantial professional fees (legal,
accounting, audit, tax, etc.) being incurred in multiple
jurisdictions (the United Kingdom, the USA, New Zealand and
Australia) in order to comply with regulatory and other
requirements encountered in moving Arria NLG's primary listing away
from London to New Zealand. Over the past 12 months, a substantial
amount of transaction related, one-off, costs have been incurred by
the Company. The Board anticipates that the accumulation of
professional fees relating to the transition to the NZX will be to
the long-term benefit of the Company and the nature of the process
means that a significant proportion of these costs are expected to
be settled in the coming weeks, supported by the receipt of funds
pursuant to the loan notes mentioned below.
On 3 October 2016, the Company announced that it had received
subscriptions for a further c.GBP2.7 million of unsecured
convertible loan notes (the "Loan Notes") to meet its short term
working capital requirements. As confirmed on 24 October 2016, the
Company has received GBP622,000 of the GBP2.7 million relating to
the Loan Notes and expects to receive the balance of c.GBP2.0
million in the coming weeks. The subscription agreements allow for
the remaining funds to arrive in two instalments by 15 November
2016 and 15 December 2016.
As the underlying Loan Note subscriptions are denominated in US
dollars the Company has not been adversely impacted from the recent
weakening in Sterling; however, the final amounts received may be
impacted by foreign exchange differences should Sterling recover
against the US dollar in the short term.
The Board believes Arria NLG is well positioned for growth based
on:
1. the increase in its revenues outside of the oil and gas
sector, including financial services, power, and
pharmaceuticals;
2. the beta launch of Arria NLG's first NLG powered
Software-as-a-Service (SaaS) product "Recount" (www.recount.com)
which has been positioned as a virtual financial coach or analyst -
a real time consultant for small and medium sized businesses -
which spots trends, calls out problems, forecasts what's likely to
happen next and then creates insightful reports filled with
relevant details, in plain language, in seconds; and
3. the beta launch of Articulator Lite (A-Lite), a cloud-based
toolkit that makes simple NLG solutions available to everyone.
Sharon Daniels, Arria NLG Chairman and Interim CEO said: "We are
privileged to have in our possession this extraordinary Artificial
Intelligence technology at a time when the demand for AI solutions
is on the rise.
"Research and Markets predicts that the Artificial Intelligence
market is estimated to grow from US$419.7 million in 2014 to USD
$5.05 billion by 2020, at a CAGR of 53.65% from 2015 to 2020.
"On behalf of the entire team I would like to thank all of our
stakeholders for their continued support as we transition to the
New Zealand capital market as our primary listing."
For further information, please visit www.arria.com or
contact:
Arria NLG plc
Chairman and Interim CEO - Sharon Daniels Tel +44 (0)20 7100
4540
Allenby Capital (Nominated Adviser & Joint Broker)
Nick Naylor/Jeremy Porter/James Reeve Tel: +44 (0)20 3328
5656
MSL Capital Markets (Lead Manager)
Andrew McDouall/Justine Dunnett/Peter Lynds Tel: +64 (0)4 472
2716
Stockdale Securities (Joint Broker)
Antonio Bossi/Robert Finlay Tel: +44 (0)20 7601 6100
IFC Advisory (Financial PR and IR)
Tim Metcalfe/Graham Herring/Heather Armstrong Tel: +44 (0)20
3053 8671
tim.metcalfe@investor-focus.co.uk
graham.herring@investor-focus.co.uk
heather.armstrong@investor-focus.co.uk
Ruder Finn (PR USA)
Scott Beaver (West Coast)
Tel: +1 541-326-5847
Brianna Mulligan (East Coast) Tel: +1 203-246-1304
Arria NLG
Arria NLG's core product is known as the Arria NLG Platform, a
form of artificial intelligence software, specialised in extracting
information from complex data sources and communicating that
information in natural language (i.e. as if written by a human).
The scientific foundation for the Arria NLG Platform is based on
more than 30 years of research and development by the Arria
Data2Text Limited founders at the University of Aberdeen. For
additional information, visit www.arria.com. Follow Arria NLG on
Twitter, LinkedIn, Google+ and YouTube.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 31, 2016 12:14 ET (16:14 GMT)
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