Subscription and intention to apply for OTC listing
Astrid Intelligence PLC (ASTR) is pleased to announce that it has entered into a subscription or “At The Market” facility agreement with Oak Securities (a trading name of Merlin Partners LLP) and Oak Securities Limited (together, “Oak”), pursuant to which Oak has agreed to use its reasonable endeavours to sell shares held by its custodian, with the net proceeds of sale being paid to the Company.
The Company has issued Oak with 575,242,361 ordinary shares of £0.001 each (“Subscription Shares”) at par and Oak will use reasonable endeavours to sell those shares within price and volume restrictions agreed with the Company. It is the intention of the parties that the shares should only be sold when market conditions are suitable and with a view to enhancing the value of the Company for all shareholders. From the gross proceeds of sale, Oak Securities will deduct its commission and its set up fee.
It is expected that the Subscription Shares will be admitted to trading on the Access segment of the AQSE Growth Market on or around 12 September 2025.
Following Admission, the Company’s total issued and voting share capital will consist of 6,327,665,972 Ordinary Shares. The Company does not hold any ordinary shares in treasury. The above figures may be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure and Transparency Rules.
The Company also announces that it expects to meet the conditions required, and if so will apply, to have its ordinary shares traded on OTC Markets in due course. There can be no certainty as to the timing or success of such an application. A further announcement will be made in due course.
“Whilst we are very pleased to put the At The Market facility in place, with the Company’s shares currently trading below net asset value, we have no intention to raise equity capital at current share price levels. We are focused on enhancing shareholder value as we grow our crypto treasury and we will seek to use the ATM in times of more buoyant market conditions. By putting the facility in place, we seek to demonstrate our intention to utilise sophisticated mechanisms for raising capital and will also be reviewing non-dilutive finance as the business grows. We are also keen to seek an OTC listing to enhance the attractiveness of the Company to international investors.”
This announcement contains inside information.
The directors of Astrid Intelligence PLC take responsibility for this announcement.
The Company intends to hold treasury reserves and surplus cash in Bitcoin, Ethereum, Solana and Bittensor. These are types of cryptocurrencies or cryptoassets. Whilst the Board of Directors of the Company considers holding cryptocurrencies to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the Financial Conduct Authority or FCA) considers investment in cryptocurrencies to be high risk. At the outset, it is important to note that an investment in the Company is not an investment in cryptocurrencies, either directly or by proxy and shareholders will have no direct access to the Company’s holdings. However, the Board of Directors consider cryptocurrencies to be an appropriate store of value and potential growth and therefore appropriate for the Company’s reserves. Accordingly, the Company is and intends to continue to be materially exposed to cryptocurrencies. Such an approach is innovative, and the Board of Directors wish to be clear and transparent with prospective and actual investors in the Company on the Company’s position in this regard.
The Company is neither authorised nor regulated by the FCA, and the purchase of certain cryptocurrencies are generally unregulated in the UK. As with most other investments, the value of cryptocurrencies can go down as well as up, and therefore the value of the Company’s cryptocurrencies holdings can fluctuate. The Company may not be able to realise its cryptocurrencies holdings for the same as it paid to acquire them or even for the value the Company currently ascribes to its cryptocurrencies positions due to market movements. Neither the Company nor investors in the Company’s shares are protected by the UK’s Financial Ombudsman Service or the Financial Services Compensation Scheme.
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