Mindflair : Emergent update

Mindflair plc

("Mindflair" or the "Company")

Investee Company Update - Emergent Entertainment

Mindflair plc (AIM: MFAI), the company inves>ng in next genera>on technology focused on AI, announces that it has received no>fica>on from its investee company Emergent Entertainment Ltd ("Emergent"), that Emergent is engaging with insolvency advisers and is an>cipated to be shortly placed into liquida>on.

Based on the Company's net asset value at 30 June 2023 ("NAV") of 4 pence per ordinary share, the Emergent investment represents approximately 0.7 pence per ordinary share or approximately 17.5% of this NAV. It should also be noted that the net cash investment made historically by Mindflair in this company was less than US$200K and that, based on the NAV adjusted for the current carrying value of this investment, the Company is s>ll trading at around 30% of its NAV.

This announcement contains inside informa>on for the purposes of the UK Market Abuse Regula>on and the Directors of the Company are responsible for the release of this announcement. The person who arranged for the release of this informa>on is Nicholas Lee, a director of the Company.

Mindflair plc (AIM: MLAI) is an investment company providing investors with access to a por`olio of next genera>on technology businesses focused on AI with significant growth poten>al.

The Company is building an investment por`olio of high-tech businesses across areas such as Ar>ficial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of trac>on and the poten>al for exponen>al growth, due to increasing global demand for development in these sectors.

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For further informa>on, visit is hkps://mindflair.tech/.

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