Cykel AI PLC, an AI research company

Cykel is an AI product and research company. We build systems designed to expand the functionality, reliability and application of AI automation in an ethical way. We’re building an automation layer for the internet.

Corporate Details

Cykel AI PLC was incorporated on 17 January 2018 and registered in England and Wales under the Companies Act 2006 with company number 11155663.

The Company is headquartered in London, UK.

‍Registered Office:

16 Great Queen Street, London WC2B 5DG

‍The Company is subject to the UK Takeover Code.



Legal Entity Identifier: 213800QEO6L6JAS62H02

Significant Shareholders

Cykel AI PLC's shares are traded on the London Stock Exchange Main Market.

‍The Cykel AI PLC ticker code is CYK.

Allotted: 412,507,529 Ordinary Shares of £0.01 each.

220,165,000 ordinary shares are locked-in until 27 September 2024.

8,251,966 ordinary shares are locked-in until 27 December 2024.

There are no restrictions on the transfer of shares.

There are no shares held in treasury.

Latest Share Price and Trades

To see the latest share price and trades in Cykel AI PLC shares click here.

Significant Shareholders

As at 26 June 2024, as far as the Directors are aware, the following shareholders are Company Directors or interested in 3% or more of the issued share capital of the Company.

Toro Consulting - 95,550,000 Ordinary Shares - 23.16%

Fidelio Partners Pte Ltd - 38,220,000 Ordinary Shares - 9.27%

Crowdform Limited - 19,110,000 Ordinary Shares - 4.63%

California Two Pizza Ventures Inc - 13,377,000 Ordinary Shares - 3.24%

Cykel AI Warrant and Option Holders

102,927,582 Warrants - £0.01 Exercise Price - 24 Oct 2026

38,117,116 Warrants - £0.03 Exercise Price - 24 Oct 2026

1,250,000 Warrants - £0.10 Exercise Price - 28 Jul 2024

636,986 Warrants - £0.30 Exercise Price - 15 Nov 2024

7,425,000 Warrants - £0.05 Exercise Price - 24 Oct 2026

Warning to Shareholders

Along with other UK listed companies, Cykel AI PLC has been asked to warn shareholders about the threat from unauthorised, high-pressure sales firms, known colloquially as ‘boiler rooms’. Often based overseas, boiler room operations target investors illegally offering to sell them non-tradable, overpriced or even non-existent shares.

The Financial Conduct Authority (FCA) has produced a share fraud warning leaflet, which provides practical advice for those approached by boiler rooms, including a list of 10 guidance points. Please click here to view the FCA guidance leaflet.

Corporate Governance

As a company with a Standard Listing, the Company is not required to comply with the provisions of the UK Corporate Governance Code. However, the Board are committed to maintaining high standards of corporate governance and intends, so far as is appropriate given the Company's size and nature, to voluntarily comply with the principles of the QCA Code. Due to the size of the Company the Directors acknowledge that full adherence to certain other principles of the QCA Code may be delayed until such time as it becomes appropriate for the Company, taking into account its size, to comply with them in full. 

To demonstrate the Company's adherence to the QCA Code, the Board will hold timely board meetings as issues arise which require the Board's attention. The Board will be responsible for the management of the business of the Company, setting the strategic direction of the Company and establishing its policies. It will be the Directors’ responsibility to oversee the financial position of the Company and monitor its business and affairs, on behalf of the Shareholders, to whom they are accountable. The primary duty of the Board will be to act in the best interests of the Company at all times. The Board also addresses issues relating to internal control and the Company's approach to risk management.

In order to implement its business strategy, the Company will establish the following committees, with effect from Admission:

Audit and Risk Committee

The Board will establish an Audit and Risk Committee with formally delegated duties and responsibilities. The Audit and Risk Committee will be chaired by Jonathan Hives and its other member will be Rob Mayfield. The Audit and Risk Committee will meet at least twice a year and will be responsible for ensuring the financial performance of the Company is properly reported on and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies, as well as keeping under review the categorisation, monitoring and overall effectiveness of the Company's risk assessment and internal control processes, and to review the Company’s internal financial controls and the Company’s internal control and risk management systems.

Remuneration Committee

The remuneration committee, which will comprise Jonathan Bixby and Rob Mayfield, will be responsible for the review and recommendation of the scale and structure of remuneration for the Company's, including any bonus arrangements or the award of share options with due regard to the interests of the shareholders and the performance of the Company. The Remuneration Committee will be chaired by Rob Mayfield and will meet at least once a year.

Share dealings

The Company has adopted and will operate a share dealing code governing the share dealings of the Board and any applicable employees with a view to ensuring compliance with UK MAR.

The Company has adopted and will operate a share dealing policy regulating trading and confidentiality of inside information for the Board and other persons discharging managerial responsibilities (and persons closely associated with them) which contains provisions appropriate for a company whose shares are admitted to trading on the Official List (particularly relating to dealing during ‘closed periods’ which will be in line with UK MAR). The Company will take all reasonable steps to ensure compliance by the Board and any relevant employees with the terms of the share dealing policy.


Company Secretary: 

Nicholas Lyth

Registered Office:

16 Great Queen Street, London WC2B 5DG

Legal Advisers to the Company:

Druces LLP

Salisbury House

London Wall



Auditors and Reporting Accountants:

PKF Littlejohn LLP

15 Westferry Circus


E14 4HD


Share Registrars Limited

The Courtyard

17 West Street



Financial Adviser:

First Sentinel Corporate Finance Ltd

72 Charlotte Street


 W1T 4QQ

Investor Enquiries

First Sentinel Corporate Finance Ltd

020 3989 2222

Press Releases
Offer Documentation
Board of Directors
Jonathan Bixby

Jonathan Bixby


Jonathan Bixby is a serial entrepreneur, active angel investor, board member and speaker. He has raised over $500M USD in venture capital and has created over $3B USD in market capitalization in startup companies around the world. Jonathan has significant experience in the health care, gaming and fintech sectors, and in particular, was a founder and major investor in Argo Blockchain (ARB), Guild Esports (GILD) and Cellular Goods (CBX) – all listed on the London Stock Exchange. He is also the Executive Chairman of NFT Investments (NFT) admitted to trading AQUIS and he is on the board of Leaf Mobile (LEAF). Prior to this Jonathan was a founder, board member and investor in Koho Financial and Blue Mesa Health (Sold to Virgin Pulse). Previous to this, Jonathan was the CEO of Strangeloop Networks, a networking company which focused on providing hardware appliances in data centres to speed up web-based properties. Strangeloop was sold to Radware (RDWR) in 2013. Jonathan was a founder and Chair of the Board of Ironpoint Technology which provided technology-based content management services. Ironpoint was sold to Active Network (ACTV) in 2006. In addition to his investing and entrepreneurial efforts, Jonathan has been active with several non-profit organizations.
Nick Lyth

Nick Lyth

Finance Director

Nick Lyth is a UK-based experienced finance director and qualified accountant with extensive experience advising quoted companies including AIM listed companies Univision Engineering Ltd, Altona Energy PLC and Taihua PLC. For two years, Mr. Lyth was Group Finance and Purchasing Director of Belle Group, a manufacturer of engineering equipment operating across Europe, the US and Asia. He was also Head of Finance at Fothergill Group, a UK manufacturer of technical industrial fabrics, between 1996 and 2003. In his early career, Nick was a management accountant at Courtaulds plc and Rotunda plc.
Jonathan Hives

Jonathan Hives

Non-Executive Director

Jonathan’s passion for financial services dates back to his University days, where he studied B.A. (Hons) Finance and Investment Management. At the age of 23 he left the UK to begin his journey in International Financial Planning, and having lived and worked in three continents, he has first-hand experience when it comes to cross-border financial planning. Over the last 12 years he has built up invaluable experience by advising high net worth individuals and family estates, practising all areas of wealth and succession planning. Jonathan prides himself on the service he provides, which is highly personalised, proactive and bespoke to his clients’ objectives. He is an active member of the Chartered Insurance Institute, where he holds the Diploma in Financial Planning.

Robert Mayfield

Non-Executive Director

Rob is an experienced international entrepreneur, CEO and VC investor in various industries, focussed on bringing disruptive technology to market. Rob is currently the managing director a technology investment fund in the Netherlands, investing in technologies associated with Leiden University and the LUMC academic hospital. He previously worked as the Director of technology transfer, and is also a Director of the Leiden Centre of Entrepreneurship. Rob has extensive corporate governance experience representing the interests of VC and private institutional investors, both through the University investment fund, Libertatis Ergo Holding B.V., with 40 portfolio companies, and previously as a manager of a multinational corporate VC fund Shell Technology Ventures Fund 1 B.V., operating in Europe, US and Asia.Rob is currently a member of the supervisory board of several companies in which the University holding is an investor, such as inter alia, UNIIQ B.V (a regional investment fund), In Ovo B.V. (agritech), in which he is also chair of the compensation committee, Vitroscan BV (oncology), and Bimini Biotech BV (oncology) as well as a number of digital health technology startups. Rob holds a BEng (Hons) in Electrical & Mechanical Engineering from the University of Edinburgh and an MBA from INSEAD.
Management Team

Ewan Collinge


Ewan is an entrepreneur and technologist. He has launched ventures in payments, AI, SaaS, blockchain, consumer products and gaming. His track record includes two successful exits including taking Ora Technology PLC, an environmental investing platform, and Kondor AI PLC public in the UK.  He founded Crowdform, a technology venture studio with teams in the UK, Brazil, Canada and Singapore, which has created digital products for over 75 startups as well as major companies like Shell, Sony, and Red Bull. Ewan is also an investor in early-stage companies and advisor to startups in the UK and Canada.

Leo Mercier


Leo Mercier is an entrepreneur, technologist and investor. As founder and technical lead at Crowdform, he has built digital products for startups and major brands globally. He has led product development and go-to-market strategy for over 20 ventures including Helix Payments, Ora Technology PLC, MetaKit, Stonks, Automata, Mintstars and Midori Carbon. Leo has built global engineering teams and led the development of a range of platforms including financial exchanges, marketplaces, gaming and AI systems. He serves as an advisor to startups in the UK including StreakAI PLC, an AI company listed on the LSE.