INSIG AI PLC

Board/Management Information • May 30, 2024

National Storage Mechanism | Additional information

RNS Number : 3612Q

Insig AI Plc

30 May 2024

30 May 2024

Insig AI

("Insig AI" or the "Company")

Board changes

Insig AI plc (AIM:INSG), the data science and machine learning solutions company announces the following changes to its board of directors (the "Board").

With immediate effect Colm McVeigh will be stepping down from the Board and his role as CEO to pursue other opportunities. Richard Bernstein has been appointed as Chief Executive Officer with immediate effect to devote more time to engaging with asset managers, prospective customers and commercialising Insig's product offering.

The Company also announces that Warren Pearson, Chief Technical Officer is stepping down from the Board, but staying within the business as a full-time employee. This change will allow Warren to focus time on product development and deployment of Insig's machine learning solutions.

Finally, Insig AI is pleased to announce the appointment of John Wilson as Independent Non-Executive Chairman with immediate effect.

John is a globally experienced Chairman and Chief Executive, with a strong background in the technology sector.  He is currently the CEO of Bulgin Limited, a world leading manufacturer of sealed connectors and components and Independent Non-Executive Director of AIM quoted Volex plc. Previously, John previously held the roles of Senior Independent Director, Chair of the Audit Committee and Chair of the Remuneration Committee of Checkit plc (previously Elektron Technology plc), prior to which he was CEO of Elektron Technology Plc for almost a decade.  John holds a degree in Engineering from the University of Durham.

Following the above changes the composition of the Board is as follows:

-     Independent Non-Executive Chairman, John Wilson

-     Independent Non-Executive Director, Richard Cooper

-     Chief Executive Officer, Richard Bernstein

-     Chief Product Officer, Steve Cracknell

Richard Bernstein, CEO commented: "I'm pleased to be appointed Chief Executive at a time when the priority for the business is to convert its strong machine learning repository and data science capabilities into client wins and revenues. Although sales cycles to large corporates for emerging technologies can take up to 18 months, with impending regulatory changes, our addressable market has enormous potential. Over time, my job will be to ensure that we fully capitalise on these substantial opportunities."

John Wilson commented: "I am delighted to be joining Insig AI at this exciting time.  Having previously been involved in the business, as Strategic Adviser, I have had the opportunity to appreciate the significant potential for this business.  I look forward to supporting Richard and the team in realising the true potential of Insig AI. "

The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.

John Frederick Wilson (aged 48) holds or has held the following directorships or partnerships in the past five years:

Current Directorships or Partnerships	Previous Directorships or Partnerships
Volex Plc	Hartest Precision Instruments India Private Limited
JFW Agritech Ltd	Hartest Precision Instruments Limited
Regatta Midco Limited	Elektron Vision Inc.
Regatta Bidco Limied	Checkit UK Limited
Regatta Topco Limited	Elektron Eye Technology Limited
Regatta Holdco Limited	Elektron IP Limited
Bulgin Limited	Checkit Europe Limited
Bulgin Inc.	Elecktron Precision Instruments Limited
	Munro Instruments Limited
	Abbey Place (Fordham) Management Company Limited
	Checkit Plc
	Bulgin Connectors Limited
	Elektron Enterprises 1 Limited

Mr Wilson and persons closely associated currently hold 800,000 ordinary shares in the Company.

There is no further information to be disclosed pursuant to Schedule Two Part (g) of the AIM Rules for Companies.

For further information, please visit  www.insg.ai  or contact:

Insig AI plc Richard Bernstein, CEO	richard.bernstein@insg.ai
Zeus  (Nominated Adviser & Broker) David Foreman / James Hornigold	+44 (0) 203 829 5000

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