Conversion of Loan Notes

RNS Number : 1032C

IQ-AI Limited

05 February 2020

 

IQ-AI Ltd

("IQ-AI" or the "Company")

Conversion of Loan Notes

IQ-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 5,125,00 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.

Following 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 will commence trading on or around 6 February 2020.

Following 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.

The Directors of the Company accept responsibility for the contents of this announcement.

-ENDS-

For further information, please contact:

IQ-AI Limited Trevor Brown/Vinod Kaushal/Qu Li Tel: [phone]

Peterhouse Capital Limited (Financial Adviser and Broker) Lucy Williams/Heena Karani Tel: [phone]

About IQ-AI Ltd 

IQ-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 researchers and clinicians, sophisticated advancements are translated into platform-independent software plug-ins which can extend the base functionality of workstations, imaging systems, PACS, or medical viewers. By design, IB's advanced visualization software seamlessly integrates into routine workflows. Please visit www.imagingbiometrics.com for further information.  

 

END

 

 

STRMZGGZKKRGGZM