AIQ Admission to Trading and First Day of Dealings on London Stock Exchange
09 January 2018 - 10:39PM
Business Wire
AIQ Limited (LSE: AIQ) (“AIQ” or the “Company”), a special
purpose acquisition company (“SPAC”) incorporated in the Cayman
Islands and formed to undertake one or more acquisitions of target
companies or businesses in the e-commerce sector, is pleased to
announce the admission of its ordinary shares to the standard
listing segment of the Official List of the UK Listing Authority
and that trading in its ordinary shares will commence on the London
Stock Exchange's main market for listed securities at 8 a.m. GMT
today, under the ticker AIQ (“Admission”) and with the ISIN number
KYG0180A1022.
The Company has successfully raised gross proceeds of
approximately £4 million (before expenses) through subscriptions at
a subscription price of 8 pence per subscription share. Following
Admission, the Company will have 50,000,000 ordinary shares of par
value of 1 pence each in issue.
Highlights
- Following Admission, AIQ is seeking to
acquire one or more target companies or businesses in the
e-commerce sector with a particular focus on opportunities in data
mining, artificial intelligence technologies and social and online
media such as instant messaging platforms. While not limited to a
particular geographic region, the directors expect they will
initially focus on acquiring companies or businesses in Europe, the
US and/ or Asia;
- Strong board with considerable
knowledge and experience of the social media and the online
e-commerce sector in general, particularly with respect to the
integration of technologies and social media to e-commerce business
to increase the competitive advantage;
- The acquisition strategy of AIQ will be
focussed towards companies or businesses which:
- are run by a management team with a
strong track record for generating growth for shareholders and a
proven experience business record; and/ or
- have attractive commercial prospects
within the e-commerce or social marketing sectors in general; and/
or
- are within lower risk jurisdictions,
within countries with a strong focus on protecting investors’
interests, low sovereign risk and those that encourage and
incentivise investment; and/ or
- have revenues which offer the potential
for near-term positive cash flows; and/ or
- can be funded adequately and be capable
of delivering a realistic plan of achieving credible milestones and
significant growth opportunities for shareholders.
- Following any acquisition the Company
will implement an operating strategy to generate value for its
Shareholders through;
- operational improvements;
- potential complementary acquisitions;
and
- re-admission of the enlarged group to
listing on the Official List and to trading on the London Stock
Exchange, or to another exchange.
Copies of the Prospectus, published by the Company on 4 January
2018 in connection with Admission are available from the office of
the Company’s Financial Adviser and Broker, VSA Capital Limited,
located at New Liverpool House, 15-17 Eldon Street, London EC2M
7LD, the Company’s website at www.aiqhub.com and at the National
Storage Mechanism at www.morningstar.co.uk/uk/NSM.
Notes to Editors
The Directors of the Board are as follows:
Graham Duncan, Independent Non-Executive Chairman
Graham Duncan is a UK based chartered accountant with more than
20 years’ capital markets experience. He also holds the Corporate
Finance Diploma issued by the Institute of Chartered Accountants in
England and Wales. He is currently Chief Financial Officer to Code
Investing Limited, an FCA regulated financial technology company
that connects investors with small and medium enterprises seeking
finance. He has specialised in advising quoted companies since 2000
with regard to financial reporting, transaction support and
regulatory compliance. Since 2013, Graham has run a consultancy
business providing advice to growing private and public companies
in the UK and internationally. Clients have included Learning
Technologies Group (an AIM-quoted e-leaning services and
technologies business); Blue Prism (an AIM-quoted provider of an
enterprise-strength Robotic Process Automation software platform);
TechFinancials Inc (an AIM quoted software developer that supplies
simplified trading solutions to online brokers); and Escape Hunt
Group, (an AIM-quoted global provider of live ‘escape the room’
experiences). Until 2013, Graham was a capital markets director
with Mazars LLP in London. Graham has worked closely with Asian
companies and advised on the AIM admission of Pixel Media (a
Hong-Kong based online advertising and media company) and Velosi
Group (a Malaysian oil services company). He confirmed that he
previously worked for an international firm of chartered
accountants in Asia and was based in Hong Kong between 1993 and
1996. Between November 2014 and May 2016 he served as a
non-executive director to Waratah Resources Limited, a company
listed on the Australian Stock Exchange. He resides in the UK.
Soon Beng Gee (“Nicholas”), Executive Director
Nicholas has broad industry experience, having operated
businesses in the retail, trading and e-commerce sectors as well as
in social commerce, having worked in talent management and on-line
marketing companies. He is currently the director and shareholder
of Plymouth Infotech Limited (“Plymouth Infotech”), a company
focused on information technology system services and business
consultancy services for companies based in South East Asia,
primarily in the e-commerce industry. Nicholas began his career in
foreign exchange trading and became an early pioneer of automated
trading in the Malaysian market, which introduced him to many
customers – including high net worth individuals. He developed an
automated trading platform to operate across multiple industries,
notably in the sphere of media, e-commerce and social networking.
He worked for MAMA11 MART (M) Sdn. Bhd. (“MAMA11”), which acquired
vending machines. He introduced in-house software and hardware
development and implemented real time stock updating systems to the
vending machines. Now MAMA11 has become a retail automation
specialist and leading vending machine service provider in the
retail industry in Asia. He sold MAMA11 in 2017. Recently he has
focused on business consultancy where he specialises in retail
automation strategy and marketing with an emphasis on leveraging
the purchasing power of social media. Nicholas graduated from the
University of Westminster with a Master of Arts in International
Business and Management in 2010. He currently resides in
Malaysia.
Lee Chong Liang (“Marcus”), Executive Director
Marcus has over eight years’ experience in business consultancy,
specialising in shaping business models and entrepreneur mentoring.
He currently works closely with Soon Beng Gee in Plymouth Infotech
Limited, a company focused on information technology system
services and business consultancy services for companies based in
South East Asia, primarily in the e-commerce industry. Mr. Lee’s
principal responsibilities include business training with a focus
on marketing and increasing revenue growth through strengthening
brands, increasing member and consumer royalties and turnaround
activities. Between 2010 to 2016, Marcus worked for Red Antz Event
Sdn. Bhd. a company focused on event management and business
consultancy services, as an associate providing business mentoring
services to clients based in South East Asia. Over the course of
his career Marcus has been a business mentor and has provided
entrepreneur training seminars to a wide variety of companies,
including blue chip corporations. He graduated from the University
of Nottingham Trent with a Master of Science in International Real
Estate Investment and Finance in 2009. He currently resides in
Malaysia.
Harry Chathli, Independent Non-Executive Director
Harry is an experienced capital markets specialist with 25 years
experience in advising global companies, organisations and
government agencies. Currently he is a director of Luther Pendragon
Ltd, an independent communications consultancy, and a director of a
capital markets advisory consultancy, Access Capital Markets. He is
also Chairman of Lokcom Networks Ltd, an internet-of-things
technology start-up company and a Nonexecutive Director of Green
& Smart Holdings plc, a Malaysian AIM-quoted renewable energy
company. Over the past 18 years he has advised public companies
listed on the London Stock Exchange’s main market and quoted on
AIM, as well as on NASDAQ and other international bourses. He has
worked within Asia, including advising on the IPOs of Malaysian
companies Teliti International Ltd, software solutions business,
renewable energy businesses MayAir Group plc and Green & Smart
Holdings Ltd. Harry’s experience includes advising on international
M&A deals, IPOs, MBOs, crisis communications as well as
financial PR starting in 1998 at Brunswick Group, a global
partnership advising on business critical issues to companies in 14
countries. Prior to that, Harry worked for Adam Smith
International, a global advisory and consulting business, with his
particular focus being Vietnam. In 2004, he established a financial
PR company, Corfin, which was then acquired by Luther Pendragon in
2011. He resides in the UK.
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version on businesswire.com: http://www.businesswire.com/news/home/20180109005908/en/
EnquiriesAIQ LimitedGraham Duncan, Chairman+44 (0)
754 900 5681orVSA Capital Limited (Financial Adviser &
Corporate Broker)Andrew Raca+44 (0) 20 3005 5000
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