Binary AI Ltd develops artificial‑intelligence technologies and provides services that are linked to Sign up to read more
| Allotment | Filed | Share Class | Round Size | Round Type |
|---|---|---|---|---|
2026-03-02 | £12.3M |
| Shareholder | Share class | Shares | Holding |
|---|---|---|---|
| JAMES PATRICK-EVANS | ORDINARY | 1,000,000 | 93.9% |
| 8888888888888888888888 | 8888888888 | 8888888 | 88888 |
| 88888888888888888888888888 | 8888888888 | 8888888 | 88888 |
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Capital raised per employee divides the equity BINARY AI LTD raised in the last six months by the headcount in its most recent filed accounts. It is a rough read on how capital-intensive the business is: a high figure means the company is raising a lot relative to the number of people it employs, which is typical of hardware, biotech and other research-heavy businesses. Headcount comes from annual accounts and so lags the funding date, often by a year or more.
A share class is a category of shares carrying its own rights over voting, dividends and what happens to the money if the company is sold or wound up. UK companies typically issue Ordinary shares to founders and employees, then create a new Preferred class at each funding round, giving investors priority on proceeds ahead of the Ordinary holders. BINARY AI LTD has 10 distinct classes on file at Companies House; the rights attached to each are reproduced below as filed.
THE SHARES HAVE ATTACHED TO THEM FULL VOTING AND DIVIDEND RIGHTS AND CAPITAL DISTRIBUTION (INCLUDING ON WINDING UP) RIGHTS, FOLLOWING THE PRIORITY PAYMENTS TO THE DEFERRED SHAREHOLDERS, OF AN AMOUNT EQUAL TO THE AGGREGATE ISSUE PRICE OF ITS A1 SHARES. IF THERE ARE INSUFFICIENT CAPITAL PROCEEDS TO MAKE SUCH PAYMENTS IN FULL, THEN THE CAPITAL PROCEEDS SHALL BE PAID PRO-RATA AMONGST THE A1 SHAREHOLDERS IN PROPORTION TO THE ISSUE PRICE OF THE A1 SHARES HELD; THEY DO NOT CONFER ANY RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION
THE SHARES HAVE ATTACHED TO THEM FULL VOTING AND DIVIDEND RIGHTS AND CAPITAL DISTRIBUTION (INCLUDING ON WINDING UP) RIGHTS OF, FOLLOWING THE PRIORITY PAYMENTS TO THE DEFERRED AND A1 SHAREHOLDERS, AND EQUAL SHARE, TOGETHER WITH THE A2 SHAREHOLDERS, OF THE BALANCE OF ANY SURPLUS; THEY DO NOT CONFER ANY RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION.
THE SHARES HAVE ATTACHED TO THEM FULL VOTING AND DIVIDEND RIGHTS AND CAPITAL DISTRIBUTION (INCLUDING ON WINDING UP) RIGHTS OF, FOLLOWING THE PRIORITY PAYMENTS TO THE DEFERRED AND A1 SHAREHOLDERS, AND EQUAL SHARE, TOGETHER WITH THE A2 SHAREHOLDERS, OF THE BALANCE OF ANY SURPLUS; THEY DO NOT CONFER ANY RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION.
VOTING: FULL VOTING RIGHTS. DIVIDENDS: FULL DIVIDEND RIGHTS. DISTRIBUTIONS: ON A DISTRIBUTION OF ASSETS ON A LIQUIDATION OR A RETURN OF CAPITAL (OTHER THAN A CONVERSION, REDEMPTION, BUYBACK OR PURCHASE OF SHARES) THE SURPLUS ASSETS OF THE COMPANY REMAINING AFTER PAYMENT OF OR PROVISIONING FOR ITS LIABILITIES SHALL BE DISTRIBUTED IN ACCORDANCE WITH ARTICLE 5 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY. REDEMPTION: NO RIGHTS OF REDEMPTION.