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.
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.
ISIN: GB00BJ9MHH56;
SEDOL: BJ9MHH5;
Legal Entity Identifier: 213800QEO6L6JAS62H02
Cykel AI PLC's shares are traded on the London Stock Exchange Main Market.
The Cykel AI PLC ticker code is CYK.
Allotted: 418,640,862 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 21 August 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 - 63,550,000 Ordinary Shares - 15.19%
Fidelio Partners Pte Ltd - 38,220,000 Ordinary Shares - 9.14%
Charitable Impact Foundation (Canada) – 32,000,000 Ordinary Shares – 7.65%
Crowdform Limited - 19,110,000 Ordinary Shares - 4.57%
California Two Pizza Ventures Inc - 13,377,000 Ordinary Shares - 3.20%
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.
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
London
EC2M 5PS
Auditors and Reporting Accountants:
PKF Littlejohn LLP
15 Westferry Circus
London
E14 4HD
Registrar:
Share Registrars Limited
The Courtyard
17 West Street
Farnham
GU9 7DR
Financial Adviser:
First Sentinel Corporate Finance Ltd
72 Charlotte Street
London
W1T 4QQ
First Sentinel Corporate Finance Ltd
020 3855 5551
Jonathan Bixby
Chairman
Nick Lyth
Finance Director
Jonathan Hives
Non-Executive Director
Robert Mayfield
Non-Executive Director
Ewan Collinge
Co-Founder
Leo Mercier
Co-Founder