Candessa AI plc (AIM: CAS), a provider of AI-led data infrastructure and machine learning solutions, has announced the issue of 216,948 new ordinary shares of 1 pence each to two of its Non-Executive Directors in lieu of cash settlement of accrued fees. The shares were issued at 13.76 pence each — an issue price derived from the average closing share price over the six-month period from 1 April 2026 to 30 September 2026. The arrangement, agreed on 30 April 2026, covers Non-Executive Director fees accruing from 1 April 2026 and represents a non-cash means of remunerating board members, which investors in smaller AIM-listed companies may note as a sign of cost management at the board level.

Key Points

  • Candessa AI plc (AIM: CAS) — provider of AI-led data infrastructure and machine learning solutions
  • 216,948 new ordinary shares issued at 13.76p each to Non-Executive Director Richard Cooper and Non-Executive Chairman John Wilson in lieu of accrued fees
  • Admission to AIM expected at 8.00 a.m. on or around 16 November 2026; total voting rights post-admission will be 134,540,273 ordinary shares
  • Investors should watch whether further fee settlements in shares are made and monitor any changes to director shareholding thresholds under FCA disclosure rules

Non-Executive Director Fee Shares Agreed at 13.76p Following Six-Month Average Pricing Period

The arrangement disclosed in the 12 November 2026 announcement states that on 30 April 2026, Candessa AI agreed with Richard Cooper and John Wilson that their Non-Executive Director fees from 1 April 2026 would be settled through the issue of new ordinary shares, priced at the average closing share price over the six-month period from 1 April 2026 to 30 September 2026. That average was calculated at 13.76 pence per share. The use of a six-month averaging period is intended to provide a representative and objective pricing basis for the fee settlement, reducing the risk of pricing shares at a momentary high or low.

Richard Cooper Receives 82,504 Shares Worth £11,352; John Wilson Receives 134,444 Shares Worth £18,499

Non-Executive Director Richard Cooper will receive 82,504 new ordinary shares in settlement of outstanding fees totalling £11,352. Following the allotment, Mr Cooper will hold 132,504 ordinary shares, representing 0.10% of the company's total voting rights. Non-Executive Chairman John Wilson will receive 134,444 new ordinary shares in settlement of outstanding fees of £18,499, bringing his total holding to 2,746,944 ordinary shares, equivalent to 2.04% of total voting rights. Both transactions are classified as off-market and constitute director dealings reportable under FCA Disclosure Guidance and Transparency Rules.

AIM Admission Expected 16 November 2026 as Total Issued Share Capital Rises to 134,540,273

The announcement states that application has been made to the London Stock Exchange for admission of the new fee shares to trading on AIM, with dealings expected to commence at 8.00 a.m. on or around 16 November 2026. The new ordinary shares will rank pari passu in all respects with the company's existing ordinary shares. Following admission, Candessa AI's total issued ordinary share capital and voting rights will stand at 134,540,273. Shareholders are advised to use this figure as the denominator when calculating whether they are required to disclose interests under applicable FCA transparency rules.