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 4582 3500

Harry Chathli, Chairman




Guild Financial Advisory Limited (Financial Adviser)

+44 (0)7973839767

Ross Andrews




Gracechurch Group (Financial PR)

+44 (0)20 4582 3500

Claire Norbury


 

 

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