The Spanish artificial intelligence company will make a capital increase against reserves.
Madrid, May 2023. Substrate AI, a company listed on BME Growth, today called an extraordinary shareholders' meeting for June 30, at which it will approve the implementation of a capital increase charged to reserves by which it will award its shareholders five Series B shares for each share they own, whether Series A or Series B shares.
These new shares will be created out of the company's share premium reserve and will be delivered to shareholders free of charge. The delivery will function in practice as a stock dividend for all security holders, a dividend that, in many cases, is five times the value of the shareholders' portfolio at the time of accrual, which will be decided by the shareholders' meeting on June 30.
"We want to reward all those who have trusted Substrate AI in this first year of life as a listed company. A year that has been very difficult in terms of market, especially for technology companies and that affected Substrate AI's share price, which went public in one of the worst moments since the 30's. Even so, this year has been a very good one for the company in terms of business and we have established ourselves as a benchmark for artificial intelligence in Spain. But a business without its shareholders is nothing and, with this capital increase against reserves, we want to reinforce the message that Substrate AI is a company with an eye on them, on our shareholders, that is and should be the ultimate goal of any company and it is for Substrate AI. We hope that this capital increase will corroborate what we think, what we have conveyed many times and what we want to build despite the ups and downs of the market". notes Lorenzo Serratosa, president of the company.
Substrate AI is the first artificial intelligence company listed in Spain and closed 2022 with sales growth of 133%. The company operates as a holding of companies that sell, apply and develop artificial intelligence in their sectors, with a focus on creating efficiencies that drive the economy on its path towards sustainability and emission neutrality.
The companies that make up the Substrate AI portfolio develop and sell artificial intelligence solutions in sectors such as healthcare, agritech, fintech, human resources and energy. In addition, the company offers consulting services for other companies that wish to implement artificial intelligence solutions in their day-to-day business.
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