IQ-AI Limited Issue of Equity (2269O)

TIDMIQAI

RNS Number : 2269O

IQ-AI Limited

01 October 2019

1 October 2019

IQ-AI Ltd

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

Issue of Equity

IQ-AI is pleased to announce that due to demand from both new and existing investors, Peterhouse Capital Limited has raised GBP500,000 on behalf of the Company through the placing of 5,555,556 new ordinary shares (the "Placing Shares") at a price of 9.0 pence per Placing Share (the "Placing Price") (the "Placing").

The Placing Price represents a 4% discount to the Volume Weighted Average Price (VWAP) over the ten trading days prior to completion of the Placing. The funds raised pursuant to the Placing will be used for the Company's general working capital.

It is expected that the Placing Shares will commence trading at 8.00am on 7 October 2019.

Following completion of the Placing, the Company's issued share capital will consist of 139,830,982 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 Guidance and Transparency Rules.

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

-ENDS-

For further information, please contact:

 
 IQ-AI Ltd 
  Trevor Brown/Vinod Kaushal/Qu Li 
  Tel: [phone] 
 Peterhouse Capital Limited (Financial Adviser and Broker) 
  Duncan Vasey/Heena Karani 
  Tel: [phone] 
 

About IQ-AI Ltd

IQ-AI, Ltd, the parent company of StoneChecker(R) and Imaging Biometrics(R), 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 top 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.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

This 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 [e-mail] or visit www.rns.com.

END

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October 01, 2019 02:00 ET (06:00 GMT)