AIQ Limited Acquisition completion and restoration of trading (6311H)
March 26 2020 - 3:00AM
UK Regulatory
TIDMAIQ
RNS Number : 6311H
AIQ Limited
26 March 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA,
CANADA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR
JAPAN.
This announcement is an advertisement and not a prospectus.
Neither this announcement nor anything contained herein shall form
the basis of, or be relied upon in connection with, any offer or
commitment whatsoever in any jurisdiction. Investors should not
purchase or subscribe for any transferable securities referred to
in this announcement except on the basis of information contained
in the prospectus dated 20 March 2020 (the "Prospectus") that was
published by AIQ Limited ("AIQ" or the "Company") in connection
with the admission of the Company's ordinary shares of 1p each (the
"Ordinary Shares") to the Official List of the Financial Conduct
Authority (Standard Listing Segment) and to trading on the main
market for listed securities (the "Main Market") of the London
Stock Exchange plc (the "London Stock Exchange"). This announcement
is not an offer to sell, or a solicitation of an offer to acquire,
securities in the United States, Australia, Canada, the Republic of
South Africa, the Republic of Ireland, Japan or in any other
jurisdiction.
26 March 2020
AIQ Limited
Completion of Acquisition and
Restoration of Trading
AIQ Limited (LSE: AIQ), a special purpose acquisition company
formed to undertake one or more acquisitions of a company or
business in the e-commerce sector, is pleased to announce that its
entire issued ordinary share capital of 64,760,721 Ordinary Shares
will today be readmitted to the Standard Listing segment of the
Official List of the UK Listing Authority and to trading on the
Main Market for listed securities of the London Stock Exchange
(together, the "Readmission") following the completion of the
acquisition of the entire issued share capital of Alchemist Codes
Sdn Bhd ("AI Codes"), a Malaysian incorporated information
technology solutions developer focusing on the e-commerce sector.
Dealings will commence at 8.00 a.m. today under the TIDM "AIQ" with
ISIN number KYG0180A1022.
Highlights:
-- Readmission today of the Company to the Official List (by way
of a Standard Listing under Chapter 14 of the Listing Rules)
-- Readmission to trading on the London Stock Exchange's Main
Market for listed securities of the Company's Ordinary Shares
-- Acquisition of AI Codes for approximately GBP2.3 million in
12,921,346 Ordinary Shares in the Company at 17.8 pence per
share
-- Appointment of Charles Yong Kai Yee, CEO & Founder of Al
Codes, as an executive director of the Company
Background on Al Codes:
Al Codes is a specialist information technology software
designer and developer focused on the e-commerce sector. Al Codes
has two primary lines of business: an IT consultancy business,
which provides customised software, web and app development for
clients, and an e-commerce cashback solution, OCTAPLUS, which
leverages proprietary data analytic tools, including artificial
intelligence technology, for user targeting. Al Code's key customer
regions are currently Malaysia, Singapore and Hong Kong, with
expansion plans to grow into China and Europe.
Dealing Codes:
TIDM AIQ
ISIN KYG0180A1022
SEDOL BF5R710
LEI 213800HDDO9LNNBAYH53
Graham Duncan, Chairman of AIQ, commented:
"Today marks a foundational milestone in AIQ's development as we
complete the acquisition of Alchemist Codes. This transformational
step establishes AIQ as an experienced IT solutions and services
business as well as offering our own AI-based e-commerce solution,
OCTAPLUS. Whilst it is a difficult time for business globally, the
value of digital solutions is more apparent than ever. We are now
focused on expanding the Alchemist Codes IT consultancy business as
well as progressing the rollout of OCTAPLUS, which we believe will
position us for growth both now and in the years ahead . We look
forward to updating the market on our progress and delivering
shareholder value, and we thank our shareholders for their
continued support."
Capitalised terms used in this announcement are as defined in
the Prospectus, unless the context otherwise requires. A copy of
the Prospectus may be accessed at the following link:
https://www.aiqhub.com/web/download/200318_ProjectAA_Prospectus.pdf
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
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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