Convertible loan notes

 

TIDMIQH 
 
RNS Number : 0805Z 
IQ Holdings plc 
15 September 2009 
 

IQ Holdings plc ('IQ Holdings' or the 'Company') 
(AIM: IQH) 
 
Issue of Convertible Loan Notes 
 
 
The directors of IQ Holdings are pleased to announce that they have raised 
GBP150,000 for working capital purposes through the issue of convertible 
unsecured loan notes ("the Notes"). 
Interest will accrue from day to day at a rate of ten per cent. per annum, and 
shall be paid quarterly in arrears, beginning on 31 December 2009. The Notes are 
unsecured with the final redemption date being  15 September 2014. 
Unless previously redeemed, converted into shares or purchased by the Company, 
the Company shall redeem the Notes in full on 15 September 2014 at par together 
with accrued, but unpaid, interest up to and including that date. The Company 
has the option to redeem the Notes earlier at par together with the payment of a 
full years interest charge of ten per cent. on the original value of the Notes. 
The Notes have been subscribed for by SFt1ps Smaller Companies Growth ("SFt1ps") 
and Lux Capital Management SA, to a value of GBP75,000 each. 
Following the issue of these Notes, SFt1ps' interest in the share capital of the 
Company is 140,000,000 Ordinary Shares (being 110,000,000 ordinary shares as a 
direct holder of shares, and an interest in 30,000,000 ordinary shares if the 
Notes were fully converted), which represents 11.10% of the Company's share 
capital. 
A Noteholder may at any time or times after 15 September 2010 and before 15 
September 2014 serve a conversion notice requiring that the Company allot and 
issue Shares to the Noteholder in respect of the principal amount of the Notes 
specified in the conversion notice (together with any accrued but unpaid 
interest) to be converted on the conversion date at 0.25p per share. 
No application has been or shall be made for a listing or for permission to deal 
in the Notes on any stock exchange or other securities markets. 
=--ENDS--- 
For further information, please contact: 
 
 
+----------+------------------+ 
| IQ       |                  | 
| Holdings |                  | 
| plc      |                  | 
+----------+------------------+ 
| Julian   | Tel: +44 (0)20   | 
| Green    | 8099 0560        | 
+----------+------------------+ 
 
 
+-----------+------------------+ 
| Nominated |                  | 
| Adviser:  |                  | 
| Grant     |                  | 
| Thornton  |                  | 
| UK LLP    |                  | 
+-----------+------------------+ 
| Gerry     | Tel: +44 (0) 20  | 
| Beaney    | 7383 5100        | 
+-----------+------------------+ 
 
 
+------------------------------+------------------+ 
| Broker:                      |                  | 
| Rivington Street Corporate   |                  | 
| Finance Limited              |                  | 
+------------------------------+------------------+ 
| Dru Edmonstone               | Tel: +44 (0)20   | 
|                              | 7562 3389        | 
+------------------------------+------------------+ 
 
 
+---------------------+------------------+ 
| Financial PR:       |                  | 
| Bishopsgate         |                  | 
| Communications      |                  | 
+---------------------+------------------+ 
| Gemma O'Hara        | Tel: +44 (0) 20  | 
|                     | 7562 3355        | 
+---------------------+------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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