Company Announcements

29 November 2023

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company" or the "Group")

Placing to raise £1 million

and

Appointment of Joint Broker

Silverbullet, a provider of digital transformation services and products, announces that the Company has raised gross proceeds of £1.0 million through a placing (the "Placing") of 1,428,571 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") at a price of 70 pence per share (the "Placing Shares") (the "Placing Price"). The Placing Shares equate to approximately 8.95% of the Company's currently issued share capital and the Placing Price represents a 27.2% premium to the 6-month VWAP and a 18.4% discount to the 3-month VWAP.

The net proceeds of the Placing will be principally used to provide the working capital required to facilitate the significant recent growth in new contract wins and further accelerate the expansion of the Company's new 4D AI Powered Insights Platform. As announced at its recent interim results, Silverbullet has experienced strong revenue growth this year, with revenue having increased by 79% and overall operating costs reduced by 8% in H1 2023 versus H1 2022, as it moves towards a position of positive EBITDA in early FY24. The Company is witnessing significant demand for the AI-driven insight capabilities the 4D AI Platform can provide, with clients increasingly seeking innovative ways to utilise AI in conjunction with privacy-safe data assets to drive marketing performance and ROI.

Appointment of Joint Broker

CMC Markets UK Plc ("CMC Markets") acted as the Company's sole placing agent in respect of the Placing and has been appointed as joint broker to the Company.  Brokers and investors wishing to gain access to future CMC Markets transactions, should register their interest at: https://www.cmcmarkets.com/en-gb/capx.

Admission and Total Voting Rights

The Placing has been conducted utilising the Company's existing share authorities.  The Placing Shares will rank pari passu in all respects with the Company's existing Ordinary Shares.  The Placing Agreement includes customary terms and conditions. The Placing is conditional, inter alia, on there being no breach of the obligations under the Placing Agreement entered into between CMC Markets and the Company prior to admission of the Placing Shares to trading on AIM becoming effective ("Admission").  Application will be made for Admission of the Placing Shares, and it is expected that Admission will become effective and that dealings in the Placing Shares on AIM will commence on or around 4 December 2023.

On Admission, the Company's issued share capital will consist of 17,390,768 Ordinary Shares, each with one voting right.  Therefore, the Company's total number of Ordinary Shares and voting rights will be 17,390,768 and, as the Company does not hold any shares in Treasury,  this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission under the FCA's Disclosure Guidance and Transparency Rules.

For further information please contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

About Silverbullet

Silverbullet's proprietary 4D AI platform is designed to enable advertisers to target consumers in a "privacy first post cookie world". The product is a natural extension to its existing marketing transformation services business which already serves a blue-chip client base such as Heineken, Mars, Sony and ITV amongst many others. The growing use of first party customer data and the removal of third-party cookies which has already been implemented by web browsers such as Firefox and Safari, with Google expected to phase out the use of cookies in 2023 is accelerating marketing transformations across all business sectors.

Headquartered in London, the Group employs 80+ employees across Europe, US and APAC. The Group continues to look at other opportunities for expansion worldwide.

The Company has an established and growing services business with significant accumulated industry experience and a proven track record of delivering strategic engagements and activation services to its clients. The majority of the Board have held senior positions at global software companies and have significant industry experience across data engineering, SAAS product development and marketing.

The Group has close technical and commercial partnerships with multiple global technology providers, all of which have existing sales channels and are already delivering to clients.

The Group has established a strategic partnership and an entity with Local Planet, a scaled network of over 60 agencies across the globe. Local Planet Data Services Limited was established in December 2020 and presents a significant opportunity to provide data services and the 4D product to the Local Planet agency network.