IQ-AI Limited
("IQ-AI" or the
"Company")
Result of Broker Option and Total Voting
Rights
IQAI Limited (the "Company" or "IQAI"), is
pleased to announce the result of the Broker Option that was
announced on 22 February 2024 alongside a £300,000 placing.
The Company's broker, Peterhouse Capital Limited
("Peterhouse"), has informed the Company that it has exercised its
Broker Option in respect of 4,733,333 new ordinary shares of £0.01
each in the Company ("Ordinary Shares") (together the "Broker
Option Shares").
The Broker Option Shares will be issued at £0.015 per
new Ordinary Share (the "Issue Price"), resulting in gross proceeds
of £71,000 being raised. Related to this and as announced on 22
February 2024, £300,000 has been raised by the Company through the
issue of 20,000,000 new Ordinary Shares (the "Placing Shares") at
the Issue Price (the "Placing" and together with the Broker Option,
the "Fundraise"). This brings the total amount raised under the
Fundraise to £371,000 (before expenses).
Admission to trading
An application will be made for the 20,000,000 Placing
Shares and the 4,733,333 Broker Option Shares to the Official List
of the UK Listing Authority by way of a Standard Listing
("Admission") and it is expected that Admission will become
effective and that dealing in the Placing Shares and the Broker
Option Shares will commence on or around 8am on or around 1 March
2024. The Placing Shares and Broker Option Shares will rank pari
passu with the Company's existing Ordinary Shares.
Total voting rights
Following Admission, the Company's enlarged issued
share capital will be 221,709,789 Ordinary Shares. The Company
holds no Ordinary Shares in Treasury. This figure of 221,709,789
Ordinary Shares 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 Guidance 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/Brett Skelly/Vinod
Kaushal
Tel: 020 7469 0930
Peterhouse Capital Limited (Financial Adviser and
Broker)
Lucy Williams/Heena Karani
Tel: 020 7220
9797