Insig AI Plc Contract win (2540B)

TIDMINSG

RNS Number : 2540B

Insig AI Plc

30 September 2022

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.

30 September 2022

Insig AI plc

("Insig AI" or the "Company")

Contract win

Insig AI plc (AIM:INSG), the data science and machine learning solutions company serving the asset management industry is pleased to announce a new contract win.

The client, a London-based wealth manager, has signed a development contract for delivery of a centralised cloud-based database and automated alerting mechanism (the "Contract"). Using Insig AI's proprietary machine learning models, the client will be alerted to specific company disclosures that are designed to improve investment returns and generate alpha.

The terms of the Contract entitle Insig AI to a total consideration of GBP200,000, with GBP50,000 payable on signing of the Contract and the remainder payable across three instalments at certain stages of completion. It is expected that the project will be completed by mid-January 2023.

Insig AI's Chief Executive, Colm McVeigh commented: "Progressive asset managers appreciate not only the competitive advantage of utilising our machine learning solutions but the ability to improve investment returns without increasing risk. This contract win is a good example of how the enormous array of company sourced disclosures now within our repository can be accessed to target specific financial information."

   For further information, please visit   www.insg.ai   or contact: 
 
 Insig AI plc                                    Via SEC Newgate 
  Colm McVeigh (CEO) 
 Zeus (Nominated Adviser & Broker)    Tel: [phone] 
  David Foreman / James Hornigold / 
  Danny Philips 
 SEC Newgate (Financial PR)           Tel: [phone] 
  Robin Tozer                          Email: [e-mail] 
 

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September 30, 2022 02:02 ET (06:02 GMT)