Inspecs Group plc, a leading designer, producer and distributor of eyewear, announced a subscription for 7,503,001 new ordinary shares of 1 pence each in the Company (“Ordinary Shares”) by Qualcomm Technologies, Inc. (“Qualcomm Technologies”), at a price of £1 per Ordinary Share (“Subscription Price”) to raise gross proceeds of approximately $10m (£7.5m) (“Subscription”), alongside a new commercial collaboration between Qualcomm Technologies and Inspecs focused on developing eyewear technology. The proceeds of the Subscription will be used to support the growth of Inspecs and general working capital purposes.
The strategic commercial collaboration will aim to create a connected, technology-enabled platform that intends to redefine eyewear as a technology category. The collaboration will aim to bring together Qualcomm Technologies’ globally recognised technology expertise and scale with Inspecs’ eyewear design authority, manufacturing capability, global distribution and trusted brand relationships to be at the forefront of building the next generation of wearable technology.
Admission
Application has been made to the London Stock Exchange for admission of 7,503,001 Ordinary Shares issued in connection with the Subscription to trading on AIM (“Admission”). It is expected that Admission will become effective at or around 8.00 a.m. on 18 June 2026.
Total voting rights
In accordance with Rule 5.6.1 of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, the total number of Ordinary Shares in issue following Admission will be 109,174,526. There are no shares held in treasury.
Therefore, the total number of voting rights in Inspecs is 109,174,526. With effect from Admission, 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 Company under the Disclosure Guidance and Transparency Rules.
Robin Totterman, Founder of Inspecs Group plc, commented: “For many years we have believed that smart eyewear is the next frontier for wearable technology and we are delighted to be partnering with Qualcomm Technologies today to deliver on our ambitions. We believe this investment and strategic collaboration will accelerate adoption in a category that is about to scale rapidly, and position Inspecs and Qualcomm Technologies among leaders in the industry.”
Ziad Asghar, Senior Vice President and General Manager of XR, Wearables and Personal AI, Qualcomm Technologies, commented: “Qualcomm Technologies’ collaboration with Inspecs reflects our focus on enabling a new generation of personal AI devices across industries such as enterprise, healthcare, and industrial applications. We’re also pleased that Inspecs will be the first partner to adopt our Snapdragon START program, helping bring smart glasses to market that fit naturally into everyday life—blending timeless design with powerful, intuitive technology.”
For further information please contact:
- Inspecs Group plc
Richard Peck (CEO)
Tel: +44 (0) 1225 717 000 - Peel Hunt (Financial Adviser, NOMAD and Broker)
George Sellar
Andrew Clark
Tel: +44 (0) 20 7418 8900
More information is available at: https://INSPECS.com
