12 February 2025
Inteliqo
Limited
(the
"Company" or "Inteliqo")
Notice
of GM and Proposed Delisting
Inteliqo
Limited (AQUIS: IQO) announces that a General Meeting ("GM") will
be held on 27 February 2025 at
10:00 AM, at the company's registered
office, Dixcart House, Sir William
Place, St Peter Port, Guernsey, GY1 1GX. At this GM,
shareholders will be asked to vote on a resolution to cancel the
admission of the company's shares from trading on the AQSE Growth
Market (the "Withdrawal Resolution").
Since the
Company's admission to the AQSE Growth Market in August 2022, Inteliqo has primarily focused on
supporting the development and marketing of the Langaroo App for
their client.
Aligned
with Inteliqo's
long-term
vision, the Company has been actively marketing the app to attract
free users while working closely with Langaroo to enhance the app's
core offerings, introduce new features, and establish a foundation
for monetisation.
The
Company's aim is to cultivate a dynamic global community that
relies on Langaroo for communication, commerce, and cultural
exchange. To achieve this, the Company are developing several key
features, with the app's monetisation strategy centred on premium
subscription services, platform fees on peer-to-peer transactions,
and advertising revenue.
Building
and monetising a platform of this scale requires time and dedicated
resources. Over time, it has become clear that Inteliqo's current
status as a publicly traded company is no longer aligned with its
strategic objectives. Remaining listed imposes considerable costs
and demands significant management time, which, the board of the
Company believes, outweigh the advantages of public
trading.
To support
the Company's growth, delisting from the AQSE Growth Market would
allow Inteliqo to redirect resources and reduce operational
expenses, enabling reinvestment into development and marketing
efforts, ultimately benefiting its shareholders.
Furthermore,
the Company found the broader market conditions have seen a marked
decline in liquidity and valuations for micro-cap quoted companies,
impacted by ongoing global geopolitical tensions and economic
pressures, including inflation and persistently high interest
rates.
After
thorough consideration, the board of Company have unanimously
determined that delisting from the AQSE Growth Market serves the
best interests of both the Company and its shareholders.
Subject to
the Withdrawal Resolution being passed, trading in the Company's
Shares will cease at 7:00
a.m., UK time,
on 14 March 2025.
The
Company's Shares are no longer available for cross-trading via the
OTCQB Venture Market effective from the opening of the
markets.
A
circular, including the GM notice, will be posted to shareholders
containing further information in relation to the proposed
cancellation, and will be made available to Shareholders on the
Company's website at https://www.inteliqo.com.
This
announcement contains information that, prior to its disclosure,
was inside information as stipulated under Regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as
amended).
The
Directors take responsibility for this announcement.
**ENDS**
For more
information, visit the Company's website: www.inteliqo.com or
contact:
Inteliqo
Limited
Joseph
Hill
|
j.hill@inteliqo.com
|
First
Sentinel Corporate Finance Limited
Brian
Stockbridge
|
+44 20
3855 5551
|