Issue of Equity

 

TIDMIQH 
 
RNS Number : 1488L 
IQ Holdings plc 
30 April 2010 
 

 
                                                                   30 April 2010 
 
 
 
                                IQ Holdings plc 
                            ("IQH" or the "Company") 
                                Issue of Equity 
 
The Company is pleased to announce that through its broker, Rivington Street 
Corporate Finance, it has placed a total of 500,000,000 Ordinary Shares of 0.01p 
each ('Ordinary Shares') at a price of 0.03p per share ('the Placing'). The 
purpose of the Placing is for general working capital purposes. 
 
Application is being made for the Ordinary Shares to be admitted to trading on 
AIM with admission expected to take place on 10 May 2010. The Company's issued 
share capital will increase to 1,787,195,774. 
 
As part of the Placing SF t1ps Smaller Companies Growth Fund ('SF T1ps') will be 
subscribing for 50,000,000 Ordinary Shares. As a result, SF T1ps and companies 
and persons connected with it for the purposes of the AIM Rules for Companies, 
will now own 246,019,000 Ordinary Shares, including GBP75,000 worth of 
convertible loan notes, which in total represents 13.54 per cent. of the 
Company's total enlarged share capital on the basis that all such loan notes 
have been converted. 
 
As SF T1ps and its connected entities control over 10 per cent. of the Company's 
issued share capital, its participation in the Placing is deemed a related party 
transaction for the purposes of the AIM rules. The Directors, having consulted 
with its Nominated Advisor, consider that the terms of the transaction are fair 
and reasonable insofar as its shareholders are concerned. 
 
 
                                    --END-- 
 
 
For further information, please contact: 
+------------------------------------+------------------------+ 
| IQ Holdings plc                    |                        | 
+------------------------------------+------------------------+ 
| John Mitchel                       |    Tel: [phone] | 
|                                    |                   0560 | 
+------------------------------------+------------------------+ 
 
+------------------------------------+------------------------+ 
| Nominated Adviser:                 |                        | 
| Grant Thornton Corporate Finance   |                        | 
+------------------------------------+------------------------+ 
| Gerry Beaney                       |   Tel: [phone] | 
|                                    |                   5100 | 
+------------------------------------+------------------------+ 
 
+------------------------------------+------------------------+ 
| Nominated Broker:                  |                        | 
| Rivington Street Corporate Finance |                        | 
+------------------------------------+------------------------+ 
| Leo Godsall                        |  Tel: [phone] | 
|                                    |                    156 | 
|                                    |                        | 
+------------------------------------+------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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