Business
Issue of Convertible Loan Notes - Correction
Issue of Convertible Loan Notes - Correction.
About this update from Imaging Biometrics Limited
[{"type":"text","content":"\n \nRNS Number : 4902A IQ-AI Limited 29 May 2019 \n\nIQ-AI LIMITED\n(\"IQ-AI\" or the \"Company\")\n \nIssue of Convertible 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 and to correct the contact details for the Company. The amended text of the announcement is set out below. \n \nIQ-AI is pleased to announce that the Company has issued £250,000 in nominal amount of 6% unsecured convertible loan notes 2025, convertible into 16,666,666 ordinary shares of 0.1p each in the Company (\"Ordinary Shares\") at a price of 1.5 pence per share (\"CLNs\"). The funds raised as a result of the issue of the CLNs will be used to provide additional working capital for product development at the Company. \n \nThe CLNs have been subscribed for by Trevor Brown, Chairman of the Company.\n \nTrevor Brown is directly and indirectly (through Free Association Books, a company in which he is interested) interested in 36,083,025 Ordinary Shares, equivalent to 29.98% of the issued ordinary share capital. Following the issue of the CLNs, Trevor Brown holds £796,926 of loan notes, directly and through Free Association Books.\n \nThe Directors of the Company accept responsibility for the contents of this announcement.\n \nThis announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 (\"MAR\").\n \n **ENDS**\n \nFor further information please contact:\n \n\n\n\nIQ-AI Limited\nQu Li/Trevor Brown/Vinod Kaushal \nTel: 020 7469 0930\n \n\n\n\n\n\n\n\n\n\n\nPeterhouse Capital Limited (Financial Adviser and Broker)\nLucy Williams and Fungai Ndoro\nTel: 020 7220 9797\n \n\n\n\n\n\n\n\n\n\n \n\nThis 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 [email protected] or visit www.rns.com. END IODDMGZKGLLGLZM\n ","length":4552,"tagName":"div"}]