ICO Group Ltd. has announced a discloseable transaction involving the subscription of preference shares in an AI-focused issuer. According to the supplemental announcement, the company conducted due diligence on the issuer’s business and financial condition, including the evaluation and testing of the issuer’s AI system. The issuer, despite its relatively short history, has secured contracts with public sector entities in Hong Kong and Singapore, notably with Hong Kong Education City Limited. The board views the issuer’s achievements and growth potential positively. The main terms of the transaction include the subscription of preference shares, with the board carefully reviewing the assumptions used in the valuation report before proceeding with the agreement.