Cellular Goods PLC's (LSE:CBX) new executive Michael Edwards continued building his shareholding in the company, according to its latest regulatory announcement, buying a further 1.4 million shares.
Edwards – who became executive director on Monday and, prior to today’s update, had bought around 13.5 million Cellular Goods shares since taking up his new role – on the 11 January paid 0.707p per share for the latest batch.
On Wednesday, he paid 0.417p per share for 8 million shares and before that, on Tuesday, he bought 5.5 million shares for 0.325p each.
Cellular Goods, meanwhile, announced on Thursday its intention to reframe and rebrand its business as ‘Cel AI’, reflecting its recently sharpened focus on “artificial intelligence-based beauty opportunities”.
In this new arena, the company intends to leverage the power of large language models, vision capabilities and its extensive experience in the retail beauty industry to become the premier AI recommendation agent for personalised skincare and beauty routines.
The board stated that the Cel AI name aligns with and better reflects the company's intention to build an active and engaged community of strategic brand ambassadors and beauty experts who offer scalable beauty advice and product recommendations that go well beyond the current Cel AI CBD offerings.