Issue of shares to Mayo Clinic

RNS Number : 9343A

IQ-AI Limited

08 February 2022

 

8 February 2022

IQ-AI Ltd

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

Issue of shares to Mayo Clinic

Further to the Company's announcement dated 9 November 2020, IQ-AI announces the allotment of 113,781 ordinary shares of 1p each in IQ-AI (the "New Ordinary Shares") to Mayo Clinic, at a price of 6.41p per share. The New Ordinary Shares were issued in accordance with the research and collaboration agreement regarding IB Trax, entered into between Mayo Clinic and Imaging Biometrics, LLC, a subsidiary of IQ-AI.

Application will be made for the 113,781 New Ordinary 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 New Ordinary Shares will commence on or around 8 am on 11 February 2022. The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.

Following Admission, the Company will have 182,621,390 ordinary shares of 1p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 182,621,390.

The above figure of 182,621,390 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.

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

-ENDS-

For further information, please contact:

IQ-AI Limited Trevor Brown/Brett Skelly/Vinod Kaushal Tel: [phone]

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

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

 

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