Business
Conversion of Loan Notes - Correction
Conversion of Loan Notes - Correction.
About this update from Imaging Biometrics Limited
[{"type":"text","content":"\n \nRNS Number : 1113C IQ-AI Limited 05 February 2020 \n\nIQ-AI Ltd\n(\"IQ-AI\" or the \"Company\")\n \nConversion of Loan Notes - Correction\n \nThe announcement released by IQ-AI earlier today has been amended to correct the number of Ordinary Shares into which the CLNs may convert. The amended text of the announcement is set out below. \n \nIQ-AI Ltd has received a conversion notice from Free Association Books Limited, converting £60,000 convertible loan notes and the £16,875 associated interest, issued on 18 November 2015, at a price of 1.15 pence, into 5,125,000 Ordinary Shares at a price of 1.15 pence per share (\"Conversion\"). Free Association Books Limited is a company in which Trevor Brown, who is an executive director of IQ-AI, has an interest. \n \nFollowing the Conversion, Trevor Brown will be directly and indirectly interested in 43,419,766 Ordinary Shares, representing approximately 29.75 per cent. of the Company's enlarged issued ordinary share capital. It is expected that the Ordinary Shares issued following this Conversion will commence trading at 8.00am on 6 February 2020.\n \nFollowing completion of the Conversion, the Company's issued share capital will consist of 145,955,982 ordinary shares of 1 penny each. 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.\n \nThe Directors of the Company accept responsibility for the contents of this announcement.\n \n \n-ENDS-\n \nFor further information, please contact:\n\n\n\nIQ-AI Limited\nTrevor Brown/Vinod Kaushal/Qu Li\nTel: 020 7469 0930\n\n\n\n\nPeterhouse Capital Limited (Financial Adviser and Broker)\nLucy Williams/Heena Karani\nTel: 020 7220 9797\n\n\n\n \nAbout IQ-AI Ltd \nIQ-AI, Ltd, the parent company of StoneChecker® and Imaging Biometrics®, is focused on advanced and state of the art medical software and services. (IQ-AI.ltd). Imaging Biometrics develops and provides visualization and analytical solutions that enable clinicians to better diagnose and treat diseases with greater confidence. Through close collaboration with r...