SBAR - SUNDAE BAR AI PLC
Grant of Warrants
· RNS
Summary
Sundae Bar granted 10,000,000 warrants (8,000,000 to CEO Jill Kenney, 2,000,000 to CFO Benjamin Sampson) at 6p/share (nil consideration) effective 15 Oct 2026, vesting 1/3 after 12 months, 1/3 after the share closes >9p for 10 consecutive days and 1/3 after it closes >12p for 10 consecutive days, expiring 14 Oct 2031 and lapsing on cessation of employment; the related‑party grant was deemed fair by the independent directors. The company — an AIM‑listed enterprise AI platform building AI Agents via SN121 on the Bittensor network and an enterprise marketplace — gains stronger executive incentive alignment to share‑price performance but faces dilution risk if warrants are exercised, execution and market competition risks in AI, and governance scrutiny tied to related‑party awards.
Announcement
For immediate release
16 October 2026
Sundae Bar AI PLC
(“sundae_bar” or the “Company”)
Grant of Warrants
Sundae Bar AI Plc (AIM: SBAR), the Enterprise AI Platform where businesses discover, deploy and manage AI through one simple interface, announces that it has granted in total 10,000,000 warrants over ordinary shares of 0.1p each (the “Ordinary Shares”) to Executive Directors Jill Kenney, CEO (8,000,000 warrants) and Benjamin Sampson, CFO (2,000,000 warrants) exercisable at a price of 6 pence per Ordinary Share (the “2026 Executive Warrants”).
Further details of the 2026 Executive Warrants:
- Effective date: 15 October 2026
- Vesting date:
- 1/3 vesting after 12 months from the effective date;
- 1/3 vesting when the closing mid-market price per Ordinary Share has been above 9p for 10 consecutive trading days; and
- 1/3 vesting when the closing mid-market price per Ordinary Share has been above 12p for 10 consecutive trading days.
- Expiry date: 14 October 2031
- Exercise price: 6 pence (or such adjusted price as may be determined in certain circumstances, for example in an event of sub-division or share consolidation)
- The 2026 Executive Warrants lapse when the Executive Director ceases to work for the Company, unless agreed otherwise.
Related Party
The grant of 2026 Executive Warrants to Jill Kenney and Benjamin Sampson, both Executive Directors of the Company, is being treated as a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. Accordingly, the independent directors, being Jonathan Bixby and James Shepherd, consider the grant and the terms of 2026 Executive Warrants are fair and reasonable insofar as the Company's shareholders are concerned.
For further information, please visit https://corporate.sundaebar.ai/ or contact:
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Sundae Bar AI PLC |
Jill Kenney |
+44 (0) 20 3004 9512 |
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Beaumont Cornish Limited (Nominated Adviser) |
Roland Cornish & Asia Szusciak |
+44 (0) 20 7628 3369 |
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Clear Capital Markets Limited (Broker) |
Bob Roberts |
+44 (0) 20 3869 6080 |
Nominated Adviser
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Distribution
This announcement has been notified via a Regulatory Information Service, and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.
About sundae_bar
Following its Admission to AIM in June 2025, sundae_bar is building a commercial platform for AI Agents focused on real business workflows. The Company is developing AI Agents and AI Agent Skills through Subnet 121 ("SN121"), its decentralised training and evaluation environment on the Bittensor network. SN121 enables global developers to compete to improve performance against structured, real-world benchmarks, with improvements measured through objective evaluation. Alongside this, sundae_bar operates a live enterprise marketplace where businesses can discover, deploy and manage specialised AI Agents across operational functions including marketing, finance, research and workflow automation.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of the 2026 Executive Warrants.
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1. |
Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
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a. |
Name |
1. Jill Kenney 2. Benjamin Sampson
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2. |
Reason for the notification | ||||||||||
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a. |
Position/status |
1. CEO 2. CFO
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b. |
Initial notification /Amendment |
Initial notification | |||||||||
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
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a. |
Name |
SUNDAE BAR AI PLC | |||||||||
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b. |
LEI |
984500EF5CD7E658D446 | |||||||||
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
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a. |
Description of the Financial instrument, type of instrument Identification code |
Warrants over Ordinary Shares of 0.1 pence
GB00BRXKJ754 | |||||||||
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b. |
Nature of the transaction |
Grant of Warrants at nil consideration
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c. |
Price(s) and volume(s) |
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d. |
Aggregated information · Aggregated volume · Price
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e. |
Date of the transaction |
2026-10-15 | |||||||||
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f. |
Place of the transaction |
Outside a trading venue | |||||||||
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