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AIQ Limited (AIQ)

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Tuesday 31 March, 2020

AIQ Limited

Response to Share Price Movement

RNS Number : 2563I
AIQ Limited
31 March 2020
 

31 March 2020

 

AIQ Limited

("AIQ" or the "Company")

 

Response to Share Price Movement

 

AIQ (LSE: AIQ), a special purpose acquisition company formed to undertake one or more acquisitions of a company or business in the e-commerce sector, notes the recent rise in the Company's share price and confirms that it is not aware of any material reason for the significant increase.

 

The Company published a prospectus on 20 March 2020 in which it outlined the acquisition (via a reverse takeover) of Alchemist Codes Sdn Bhd ("AIcodes") and its strategy for that business. Following a period of six months of suspension as part of the reverse takeover process, trading in AIQ's shares resumed with the completion of the acquisition on 26 March 2020. 

 

AIQ is now focused on implementing an operating strategy for Alcodes with a view to generating value for its shareholders through development and growth. However, it is too early to assess the impact that the global economic disruption as a result of the COVID-19 outbreak will have on the business and its ability to deliver in the short-term. The Company will update the market on progress with Alcodes as appropriate.

 

 

Enquiries

 

AIQ Limited
Graham Duncan, Chairman

+44 (0)754 900 5681

 

VSA Capital Limited - Financial Adviser and Broker
Andrew Raca (Corporate Finance)
Andrew Monk (Corporate Broking)

+44 (0)20 3005 5000

Luther Pendragon (Media Relations)

Claire Norbury, Rachel So

+44 (0)20 7618 9100

 


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