Business
Final Results, Posting of Report and Notice of GM
Final Results, Posting of Report and Notice of GM.
About this update from Insig Ai Plc
[{"type":"text","content":"\n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n 9 September 2022\n \n \n \n \n \n \n \n Insig AI plc\n \n \n (\"Insig AI\" or the \"Company\")\n \n \n \n Final results for the year ended 31 March 2022\n \n \n \n \n and\n \n \n \n \n Posting of the Annual Report and Accounts and Notice of General Meeting\n \n \n \n \n \n \n \n \n Insig AI plc (AIM:INSG), the data science and machine learning solutions company \n and its subsidiaries (the \"Group\") is pleased to announce its results for the year ended 31 March 2022.\n \n \n The Group's Annual Report & Accounts, along with the Company's Notice of General Meeting (\"GM\") will be posted to shareholders later today and will be available shortly on the Group's website: \n \n \n www.insg.ai/investor-relations/\n \n \n .\n The GM will be held at 9:45 a.m. on 30 September 2022 at 48 Warwick Street, London, W1B 5AW.\n \n \n \n \n \n Highlights\n \n \n ·\n Loss for the year after income tax £4.2 million after charging depreciation and amortisation of £2.2 million\n \n \n \n \n \n ·\n New Funds Launch division in discussions with asset managers with combined AUM of over $1 trillion dollars: Now targeting £4 million per annum run rate of recurring revenues by end of next financial year from this division\n \n \n ·\n Forecasting significant jump in second half revenues and for following financial year and beyond\n \n \n \n \n \n ·\n A number of contract wins expected by the end of next month\n \n \n \n \n \n \n \n \n Insig AI's Chief Executive, Colm McVeigh commented:\n \n \"Over the last year, we have transformed and repositioned the business converting a strong machine learning AI capability into customer focused solutions which form the basis for asset management partnerships, fintech data science high impact projects, and ESG disclosure diagnostic reporting for the corporate market. We anticipate that this will be reflected in strong and sustainable revenue growth.\"\n \n \n \n \n \n \n \n \...