Tekcapital plc Guident Ltd Appoints Director (9390M)

TIDMTEK

RNS Number : 9390M

Tekcapital plc

14 January 2019

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

14(th) January 2019

Tekcapital plc

("Tekcapital" or the "Company")

Guident Ltd Appoints Director

Tekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from university technology, announces that its wholly owned portfolio company, Guident Ltd ("Guident"), has appointed Daniel Grossman as a director.

Mr. Grossman has served as a senior executive of several automotive companies. He most recently served as CEO of Chariot. Previously, Dan helped to create General Motors' mobility division, Maven, and led all operations as COO, and was a Vice President at Zipcar where he helped to pioneer the brand globally. Dan is a proven global manager and entrepeneur in the automotive industry. He has extensive experience successfully developing and transforming companies to achieve breakthrough results, competitive advantage, and shareholder value.

"Autonomous vehicles will make it easier, safer and more convenient for people to travel. I believe software apps will play an increasingly important role in enabling individuals to benefit from an autonomus transportation network. I'm looking forward to contributing to the growth and success of Guident," said Daniel Grossman.

Dr. Clifford Gross, Chairman at Tekcapital, commented: "We are delighted that Guident has appointed Daniel Grossman as a director. He is a highly experienced and successful automotive executive who understands first-hand how autonomous vehicles have the potential to help individuals and companies better achieve their transportation objectives. We are confident he will make a significant contribution to the commercialisation of Guident's patented autonomous vehicle software technology. According to Market Research Future(1) , the autonomous vehicle market is expected to reach US $65.3 billion by 2027."

About Guident, Ltd.

Guident was established by Tekcapital to commercialise new technology to enhance the utility, safety and enjoyment of autonomous vehicles and drones. It has exclusively licensed U.S. Patent # 9,429,943 from Florida Agricultural and Mechanical University. This patented technology has the potential to enable the development of software apps for controlling autonomous vehicles such as cars, trucks and drones using artificial intelligence. As an example, with this new technology, the directors of Tekcapital believe that it is possible to develop apps that allow users of autonomous vehicles to dispatch their vehicles to join ride sharing pools or identify available parking spots, and later retrieve their vehicles when they are ready to go on to their next destination.

For further information, please contact:

 
 Tekcapital plc                                      Via Yellow Jersey PR 
  Clifford M Gross, Ph.D. 
 finnCap Ltd (Nominated Adviser 
  and Joint Broker)                                 + 44 (0) 20 7220 0500 
 Geoff Nash / Max Bullen-Smith (Corporate 
  Finance) 
 Camille Gochez / Alice Lane (ECM) 
 Novum Securities Limited (Joint 
  Broker)                                            +44 (0) 20 7399 9427 
 Colin Rowbury (Corporate Broking) 
 Yellow Jersey Limited                                +44 (0)7710 718 649 
 Tim Thompson / Annabel Atkins              tekcapital@yellowjerseypr.com

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital's objective is to create value from investing in new, university-developed intellectual properties. Additionally, using its proprietary discovery search engine, linked to 4,500+ universities in 160 countries, coupled with expert scientific review, Tekcapital provides a range of IP investment services to make it easy for organisations to find, evaluate, acquire and license university-developed technology. Tekcapital plc is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

LEI: 213800GOJTOV19FIFZ85

Reference

(1) https://www.marketwatch.com/press-release/autonomous-vehicles-market-size-industry-growth-share-opportunities-emerging-technologies-competitive-landscape-future-plans-and-global-trends-by-forecast-2023-2018-07-31

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January 14, 2019 02:00 ET (07:00 GMT)

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