UK AI Tech Company Pri0r1ty Intelligence Group PLC to list on the London Stock Exchange  – Share Talk

First dedicated AI Software-as-a-Service company to be quoted on AIM this year

Alteration Earth Plc (to be renamed Pri0r1ty Intelligence Group PLC (“Pri0r1ty” or the “Company”), which has agreed to acquire Pri0r1ty AI Ltd, a company which has developed an artificial intelligence (AI) platform that simplifies professional growth services for small and medium sized businesses (SMEs), has confirmed its plan to apply for admission to the AIM Market of the London Stock Exchange by the end of this month. This will make Pri0r1ty the only AI Software-as-a-Service company to be quoted on AIM in a year when less than a handful of tech companies have listed on the stock exchange overall.

Transaction structure

On 27th June 2024 Alteration Earth Plc (ALTE) announced it had entered into non-binding head of terms to acquire the entire issued share capital of Pri0r1ty AI Ltd. The pre-money value of the transaction is expected to be £12.5m, with a raise of £1m for general working capital. ALTE intends to cancel the listing of its ordinary shares on the Official List and their admission to the Main Market of the London Stock Exchange and will make application for the admission of its shares to trading on the AIM Market.

The enlarged group to be named Pri0r1ty Intelligence Group Plc.

A unique AI solution to a growing challenge for SMEs

With over 5.6 million SMEs in the UK alone and a global AI market projected to add $15.7 trillion to the economy by 2030, Pri0r1ty has spotted the need to democratise advanced AI tools and offering cost-effective solutions that eliminate the need for expensive external professional service providers.

The company’s AI Software-as-a-Service (SaaS) platform delivers services including social media management, investor relations and corporate governance. It has identified a specific need among SMEs for simpler ways to boost productivity through AI and developed a platform able to provide a combination of services derived from deep learning, data architecture and AI models. Unlike competitors whose products are largely confined to single verticals, the company offers solutions across various problem domains in the SME context specifically.

Strong market fit, with stable infrastructure & low risk innovation

Pri0r1ty has built a digital agent for automated business processes. The underlying technology is Pri0r1ty Advisor, a bespoke AI-powered advisory bot that uses Deep Learning and can engage investors, customers or stakeholders either on a website, Instant Messenger (IM) or email server. The company will collect data on customer interactions to enrich the language model and build community interest maps that power content creation and additional support services.

Pri0r1ty Advisor is a smaller Large Language Model built solely on training data for a specific business user. This model can be used by businesses to engage stakeholders, drive efficiency and collect consumer data. Pri0r1ty Advisor aims to have multiple product lines in four different product verticals: corporate governance, financing, brand management and marketing. Each service will be driven by a custom artificial intelligence GPT bot that is built and trained specifically for each customer.

All existing technology solutions offered by Pri0r1ty have been developed in-house using both proprietary information and open source third party software.

Customers

The company is currently at the early stages of revenue generation, with over 20 SME customers signed up in the first 6 weeks of product launch and with a prospects list from both private and public SME’s ready to start using its software.

James Sheehan, Pri0r1ty CEO, comments:

“Pri0r1ty was set up to meet a very real and growing challenge. SMEs spend huge amounts of money – over £60 billion a year – on eternal professional services providers when so many of these tasks can be automated using AI. With our technology, companies can use advisors for what they do best, high-end strategic support and technical value-add specialist services, and make the whole process more efficient and cost-effective by letting AI handle many of the everyday tasks. Our unique solution provides users with a suite of AI-tools that enables the efficient scaling of their business.”

Daniel Gee, Pri0r1ty founder and major shareholder, comments:

“Today marks a significant step forward in achieving a huge milestone for me personally, for the company and the UK scale-up tech sector. Since my early days working in the City it has always been a dream to bring a company to market, and I am so proud of everything the whole team has achieved. Too many early-stage British tech companies think that the only route to growth is through VC funding, or even moving abroad, but I want to send a message that the LSE and the UK capital markets can be a smart and viable route to growing a successful tech company”.

Advisers

Nominated Adviser – Beaumont Cornish Limited

Broker – Allenby Capital Limited

Contact details

PR Advisers to Pri0r1ty

Camarco – Marc Cohen, Gabriel Hedengren, Emily Hall

Pri0r1ty@camarco.co.uk

Current Directors:

Matthew Paul Beardmore (Non-Executive Chairman)

Martin David Samworth* (Non-Executive Director)

Proposed Directors from Admission:

Matthew Paul Beardmore (Non-Executive Chairman)

James Daniel Sheehan (Chief Executive Officer)

Daniel John Shilton Maling (Chief Financial Officer)

Philip Adler (Independent Non-Executive Director)

Karen Patricia Lewis-Hollis (Independent Non-Executive Director)

*to resign before Admission