AIQ Limited Statement re. Convertible Loan Note Facility (6406H)
31 July 2023 - 4:00PM
UK Regulatory
TIDMAIQ
RNS Number : 6406H
AIQ Limited
31 July 2023
31 July 2023
AIQ Limited
("AIQ" or the "Company")
Statement re. Convertible Loan Note Facility
AIQ (LSE: AIQ) announces it has entered into an agreement (the
"Agreement") to amend certain terms of the convertible loan note
instrument that was executed by the Company and Li Chun Chung, Soon
Beng Gee and Lee Chong Liang (the "Noteholders") on 24 January 2022
(the "Convertible Loan Note Facility"), as announced by the Company
on 25 January 2022.
Under the terms of the Agreement, the expiration date of the
convertible loan notes has been extended by a period of 12 months
from 24 January 2024 to 24 January 2025. All other details of the
Convertible Loan Note Facility remain unchanged and are as set out
in the Company's announcement of 25 January 2022.
Related Party Transaction
The Noteholders are deemed to be related parties by virtue of
their combined shareholdings of 38.5% and Li Chun Chung being an
Executive Director. Harry Chathli and Dwight Mighty, being
Independent Non-Executive Chairman and Non-Executive Director of
the Company respectively, consider that the terms of the Agreement
are fair and reasonable insofar as the Company's shareholders are
concerned.
Enquiries
AIQ Limited c/o +44 (0)20 4 582 3500
Harry Chathli, Chairman
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Guild Financial Advisory Limited
(Financial Adviser) +44 (0) 7973839767
-------------------------
Ross Andrews
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Gracechurch Group (Financial PR) +44 (0)20 4582 3500
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Claire Norbury
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END
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