AIQ Limited Result of Open Offer (8563Q)
11 June 2018 - 4:00PM
UK Regulatory
TIDMAIQ
RNS Number : 8563Q
AIQ Limited
11 June 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.
11 June 2018
AIQ LIMITED
("AIQ" or the "Company")
Result of Open Offer
Further to the Company's announcements of 13 April and 22 May
2018, AIQ (LSE: AIQ), a special purpose acquisition company
("SPAC") formed to undertake one or more acquisitions of a company
or business in the e-commerce sector, is pleased to announce the
result of the Open Offer for up to approximately GBP250,000 at 20
pence per Existing Ordinary Share, further details of which were
set out in the Open Offer Circular (the "Circular") dispatched to
Qualifying Shareholders on 22 May 2018.
The Open Offer has been oversubscribed, with valid acceptances,
including excess applications, for 1,862,109 Open Offer Shares,
representing a take up of 147% of the Open Offer Shares available
under the Open Offer. Qualifying Shareholders who have validly
applied for Open Offer Shares will receive their full Open Offer
Entitlement. Applications under the Excess Application Facility
will be scaled back pro rata to the number of Excess Shares applied
for by Qualifying Shareholders. The Company has therefore raised
gross proceeds of approximately GBP250,000 through the Open
Offer.
Application has been made for these 1,264,375 Open Offer Shares,
which will rank pari passu in all respects with the Existing
Ordinary Shares, to be admitted to trading on the Main Market of
the London Stock Exchange. It is expected that Admission of the
Open Offer Shares will occur, and dealings will commence, at 8.00
a.m. on 13 June 2018.
Pursuant to the Placing completed in April 2018 and the Open
Offer, the Company has raised total gross proceeds of approximately
GBP365,000 via the issuance of 1,839,375 Placing and Open Offer
Shares.
Following Admission, the Company's enlarged issued share capital
will comprise 51,839,375 Ordinary Shares, with voting rights. The
Company does not hold any Ordinary Shares in treasury. Therefore,
the total number of Ordinary Shares in the Company with voting
rights will be 51,839,375. 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.
Graham Duncan, Chairman of AIQ, commented:
"We are delighted by the uptake under the Placing and Open
Offer. The funds raised will be used for further capital for
acquisition, in line with our stated strategy, and provide
additional liquidity in the Company's shares. We would like to
thank shareholders for their ongoing support and we look forward to
reporting on our progress in due course."
All defined terms in this announcement have the meanings given
to them in the Circular.
Contact Information:
AIQ Limited +44 (0) 754 900
Graham Duncan 5681
VSA Capital Limited
Financial Adviser & Broker +44 (0) 20 3005
Andrew Raca 5000
Luther Pendragon
Media Relations +44 (0) 20 7618
Claire Norbury 9100
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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