Subscription and Issue of Equity

Investment Evolution Credit PLC

06 August 2024

 

                6 August 2024

Investment Evolution Credit plc

("IEC", the "Company" or the Group)

Subscription and Issue of Equity

Investment Evolution Credit plc (AQSE: IEC) - 6 August 2024: IEC, a global fintech group specialising in online consumer loans, is pleased to announce that it has raised £100,000 via a subscription through the issue of 500,000 new ordinary shares of £0.005 each in the Company ("New Ordinary Shares") at a price of £0.20 per share ("Subscription"). The funds will be used for general working capital purposes.

The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company. An application will be made for the 500,000 New Ordinary Shares to be admitted to trading on AQSE ("Admission") and it is expected that Admission will take place on, or around, 9 August 2024.

Total Voting Rights

Following admission of the New Ordinary Shares, the Company's enlarged issued share capital will comprise 16,260,975 Ordinary Shares. The Company does not hold any shares in treasury. The figure of 16,260,975 Ordinary Shares 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 Financial Conduct Authority's Disclosure and Transparency Rules.

IEC is an experienced regulated licensed lender under the consumer brand Mr. Amazing Loans in the United States with state consumer lending licenses/certificates of authority in the 6 states of California, Florida, Georgia, Illinois, Nevada and New Jersey and an established track-record of regulatory compliance for over 13 years. IEC plans to expand its United States lending model to the United Kingdom market in due course by providing £2,000 to £10,000 online personal loans with fixed affordable repayments, subject to the receipt of all necessary authorisations and permits.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Investment Evolution Credit plc
Paul Mathieson  Chairman & CEO	[e-mail]
Cairn Financial Advisers LLP (IEC AQSE Corporate Adviser)
Ludovico Lazzaretti	[phone]
Jo Turner
Axis Capital Markets Limited (IEC Corporate Broker)
Ben Tadd	[phone]
Lewis Jones

For more information please visit: www.investmentevolution.com/investors  

Caution Regarding Forward Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 

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