TIDMTEK
RNS Number : 5387X
Tekcapital plc
05 May 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
5 May 2021
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update: Lucyd Ltd ("Lucyd")
Lucyd Expands Team
Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual
property investment group focused on creating valuable products
from investing in university technologies that can improve quality
of life, is pleased to announce that portfolio company Lucyd has
expanded its team with three new hires. Following Lucyd's
completion of its successful, oversubscribed Regulation Crowdfund,
where it raised $1.07m at a post-money valuation of $4.8m. The new
team members will help the Lucyd brand increase its reach into
retail markets, improve the company's online social media presence,
and further establish the company within the smart eyewear
market.
To expand its sales force, the company has hired Frank Rescigna
as VP Sales. Mr. Rescigna brings a wealth of experience with a
thirty-year background in optics. He previously managed the Guess
Eyewear brand in the US as President of Viva International, then as
President of Jewelry & Global Brand Licensing at Guess Inc. He
also helped develop several lines of specialty eyewear as SVP
Global Sales at Wiley X, Inc. He is also a licensed optician and
has operated his own optical business, making him familiar with the
industry inside and out.
Additionally, the company has hired Kenneth Strominger as Sales
Director for sports and electronics markets. Mr. Strominger is an
experienced fitness electronics sales manager with a track record
of success in brick and mortar electronics distribution. He
acquired 10,000 wholesale store accounts while Director of Sports
Marketing and Sales at Timex Corp . While President of the Nexus
Sports consultancy, he negotiated many successful deals, including
the creation of Iron Man-licensed products for the Yurbuds LLC
headphone line, and garnering placement into the national Dick's
Sporting Goods chain. Founded in 2008, Yurbuds developed in-the-ear
and behind-the-ear headphones that are ergonomically and
functionally designed specifically for athletes. Yurbuds headphones
were available in 19,000 points of sale, including big box general
merchandise retailers, sporting goods retailers and more than 750
active lifestyle specialty retailers. The company was acquired by
Harmon in 2014 .
Finally, the company has hired Alex Rivera as Content Manager.
Mr. Rivera brings significant experience to the graphic design and
social media efforts of the company. He has 15 years of experience
in photography and brand management, including over a decade of
work in photography and brand development at Astound Digital
Productions, and over five years as Content and Social Manager for
the popular Blue Martini chain. Mr. Rivera has begun refining the
Lucyd brand's online presence to broaden its reach and appeal in
its target markets.
The company believes this team expansion will prove instrumental
to the advancement of its positioning as both a pioneer and premier
brand in Bluetooth(R) -enabled eyewear.
Harrison Gross, Lucyd cofounder and CEO said, "This team
expansion is an important step towards our path to market
leadership in smart eyewear. It is our belief that these new hires
will help catalyze Lucyd's first-mover advantages into a firm
position as a technology and style leader in the emerging wearables
market. Adding this wealth of optical, sales and content management
experience to the team is invaluable, given the company's growth
since the launch of our popular Lucyd(R) Lyte e-glasses this past
January."
About Lucyd and Innovative Eyewear Inc.
Lucyd's mission is to Upgrade your Eyewear(R) with advanced
ergonomic frames that are easy to use, fun to wear, and help you
stay safely connected to your digital life. The Lucyd brand and IP
portfolio are exclusively licensed to and operated by Innovative
Eyewear, Inc. To learn more, or order Lucyd Lyte, please visit
https://lucyd.co .
Tekcapital currently owns 100% of the share capital of Lucyd Ltd
and approximately 75% of the share capital of its U.S. operating
subsidiary, Innovative Eyewear, Inc.
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
Tekcapital is quoted on the AIM market of the London Stock Exchange
(AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com .
LEI: 213800GOJTOV19FIFZ85
Forward-Looking Statements
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Lucyd or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital or Lucyd's
management. Please note that these are subject to a number of
risks, uncertainties and factors, including, but not limited to
those described in various disclosures. Should one or more of these
risks or uncertainties materialize, or should underlying
expectations not occur or assumptions prove incorrect, actual
results, performance or achievements of Lucyd and/or Tekcapital may
vary materially from those described explicitly or implicitly in
the relevant forward-looking statement. Neither Lucyd nor
Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which
differ from those anticipated.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PFUDZGGKRDFGMZM
(END) Dow Jones Newswires
May 05, 2021 02:00 ET (06:00 GMT)
Tekcapital (LSE:TEK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tekcapital (LSE:TEK)
Historical Stock Chart
From Sep 2023 to Sep 2024