Cellular Goods PLC Change of name and Focus on AI Beauty Opportunity (3121Z)

TIDMCBX

RNS Number : 3121Z

Cellular Goods PLC

11 January 2024

Press Release

11 January 2024

CELLULAR GOODS PLC

("Cellular Goods" or "the Company")

Change of name to Cel AI PLC and Focus on the AI Beauty Opportunity

Cellular Goods Plc (LSE: CBX), a company specializing in developing next-generation skincare and wellness products, is pleased to announce that the Company is to change its name to Cel AI PLC. The Company will also change its ticker symbol to "CLAI" to reflect the change in name.

By leveraging the power of large language models, vision capabilities and its hard fought experience of over three years in the retail beauty industry, the Company intends to become the premier AI recommendation agent for personalized skincare and beauty routines. The Board of Directors believes that the Cel AI name aligns with and better reflects the Company's intention to build an active and engaged community of strategic brand ambassadors and beauty experts who offer scalable beauty advice and product recommendations that go well beyond the current Cel AI CBD offerings.

The change of name will be effective once Companies House has issued a certificate of incorporation on change of name and a further announcement will be made when the name and ticker changes are formally effective. Until such time, trading will continue under the "CBX" stock ticker.

In addition, the Company's website address has changed to www.getcel.ai

The Company's subsidiary, King Tide Carbon, is unaffected by the above changes.

Michael Edwards, Executive Director of Cel AI commented: "The change of name announced today further solidifies our strategic shift in our operations to efficiency in all aspects of the business, including streamlining all operations and focusing on enterprise value increasing through an active and engaged community built on cutting edge AI technology. The high end beauty buying experience is ripe for disruption and it is very clear that our prospects and customers want us to provide them with a full suite of product recommendations and beauty ideas. We firmly believe that Artificial Intelligence can play a major role in scaling this recommendation engine.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information please contact:

 
 Cellular Goods 
 Michael Edwards                     via FSCF [phone] 
  Director 
                                    -------------------------- 
 First Sentinel Corporate Finance 
  (FSCF) 
                                    -------------------------- 
 Investor Relations 
  Rebecca Noonan                       [phone] 
  [e-mail] 
  Media Relations 
  Rebecca Noonan                       [phone] 
  [e-mail] 
  Corporate Broker & Advisor 
  Brian Stockbridge                    [phone] 
                                    -------------------------- 
 Novum Securities 
                                    -------------------------- 
 Corporate Broker 
  Colin Rowbury 
  Jon Belliss                          [phone] 
                                    -------------------------- 
 

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January 11, 2024 02:00 ET (07:00 GMT)