IQ-AI Limited Conversion of Loan Notes - Correction (1113C)
February 05 2020 - 10:30AM
UK Regulatory
TIDMIQAI
RNS Number : 1113C
IQ-AI Limited
05 February 2020
IQ-AI Ltd
("IQ-AI" or the "Company")
Conversion of Loan Notes - Correction
The announcement released by IQ-AI earlier today has been
amended to correct the number of Ordinary Shares into which the
CLNs may convert. The amended text of the announcement is set out
below.
IQ-AI Ltd has received a conversion notice from Free Association
Books Limited, converting GBP60,000 convertible loan notes and the
GBP16,875 associated interest, issued on 18 November 2015, at a
price of 1.15 pence, into 5,125,000 Ordinary Shares at a price of
1.15 pence per share ("Conversion"). Free Association Books Limited
is a company in which Trevor Brown, who is an executive director of
IQ-AI, has an interest.
Following the Conversion, Trevor Brown will be directly and
indirectly interested in 43,419,766 Ordinary Shares, representing
approximately 29.75 per cent. of the Company's enlarged issued
ordinary share capital. It is expected that the Ordinary Shares
issued following this Conversion will commence trading at 8.00am on
6 February 2020.
Following completion of the Conversion, the Company's issued
share capital will consist of 145,955,982 ordinary shares of 1
penny each. This figure may be used by shareholders in the Company
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
The Directors of the Company accept responsibility for the
contents of this announcement.
-ENDS-
For further information, please contact:
IQ-AI Limited
Trevor Brown/Vinod Kaushal/Qu Li
Tel: 020 7469 0930
----------------------------------------------------------
Peterhouse Capital Limited (Financial Adviser and Broker)
Lucy Williams/Heena Karani
Tel: 020 7220 9797
----------------------------------------------------------
About IQ-AI Ltd
IQ-AI, Ltd, the parent company of StoneChecker(R) and Imaging
Biometrics(R), is focused on advanced and state of the art medical
software and services. (IQ-AI.ltd). Imaging Biometrics develops and
provides visualization and analytical solutions that enable
clinicians to better diagnose and treat diseases with greater
confidence. Through close collaboration with researchers and
clinicians, sophisticated advancements are translated into
platform-independent software plug-ins which can extend the base
functionality of workstations, imaging systems, PACS, or medical
viewers. By design, IB's advanced visualization software seamlessly
integrates into routine workflows. Please visit
www.imagingbiometrics.com for further information.
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END
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