Director Dealing and Conversion of CLNs

IQ-AI Limited

09 November 2023

 

IQ-AI Ltd

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

Director Dealing and Conversion of Convertible ​Loan Notes

IQ-AI Ltd has received a conversion notice from Trevor Brown, the CEO of IQ-AI, converting £100,000 convertible loan notes and associated interest, issued on 29 May 2019, at a price of 1.5 pence, into 8,446,393 Ordinary Shares ("CLN Shares").

Following the above transactions, Trevor Brown will hold 40,649,850 Ordinary Shares, representing approximately 21.32 per cent. of the Company's enlarged issued ordinary share capital. 

An application will be made for 8,446,393 CLN Shares to be admitted to the Official List of the UK Listing Authority by way of a Standard Listing ("Admission") and it is expected that Admission will become effective and that dealing in the CLN Shares will commence on or around 8am on 15 November 2023. The CLN Shares will rank pari passu with the existing ordinary shares of the Company.

Following Admission, the Company will have 190,671,542 ordinary shares of 0.01p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company will be 190,671,542.

The above figure of 190,671,542 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 and Transparency Rules.

--ENDS-

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

For further information, please contact:

IQ-AI Ltd Trevor Brown/Vinod Kaushal/Brett Skelly/Michael Schmainda Tel: [phone]

Peterhouse Capital Limited (Financial Adviser and Broker) Lucy Williams/Heena Karani Tel: [phone]

About Imaging Biometrics® LLC:  IB is a wholly owned subsidiary of IQ-AI Limited, (LON: IQAI), and focuses on delivering quantitative imaging platforms and therapeutics that transform how clinicians diagnose and treat patients more efficiently and effectively. For more information about Imaging Biometrics, visit the company's website at www.imagingbiometrics.com. Follow IB on Twitter, @IQAI_IB.

PDMR DEALINGS

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Trevor Brown
2	Reason for the notification
a)	Position/status	CEO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IQ-AI Ltd
b)	LEI	213800SPW48XRJS2QH57
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of £0.01 each ISIN:     JE00BD4H0R42
b)	Nature of the transaction	Conversion of convertible loan notes
c)	Price(s) and volume(s)	Exercise price of each convertible loan note :1.5p Volume: 8,446,393
d)	Aggregated information - Aggregated volume - Price
e)	Date of the transaction	9 November 2023
f)	Place of the transaction	Main Market

 

END