IQ-AI Limited Issue of Convertible Loan Notes (4411A)
May 29 2019 - 2:22AM
UK Regulatory
TIDMIQAI
RNS Number : 4411A
IQ-AI Limited
29 May 2019
IQ-AI LIMITED
("IQ-AI" or the "Company")
Issue of Convertible Loan Notes
IQ-AI is pleased to announce that the Company has issued
GBP250,000 in nominal amount of 6% unsecured convertible loan notes
2025, convertible into 13,666,666 ordinary shares of 0.1p each in
the Company ("Ordinary Shares") at a price of 1.5 pence per share
("CLNs"). The funds raised as a result of the issue of the CLNs
will be used to provide additional working capital for product
development at the Company.
The CLNs have been subscribed for by Trevor Brown, Chairman of
the Company.
Trevor Brown is directly and indirectly (through Free
Association Books, a company in which he is interested) interested
in 36,083,025 Ordinary Shares, equivalent to 29.98% of the issued
ordinary share capital. Following the issue of the CLNs, Trevor
Brown holds GBP796,926 of loan notes, directly and through Free
Association Books.
The Directors of the Company accept responsibility for the
contents of this announcement.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
**ENDS**
For further information please contact:
Flying Brands Limited
Qu Li/Trevor Brown/Vinod Kaushal
Tel: 020 7469 0930
Peterhouse Capital Limited (Financial Adviser and Broker)
Lucy Williams and Fungai Ndoro
Tel: 020 7220 9797
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
IODLIFFDELIAFIA
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