Statement re. Convertible Loan Note Facility

AIQ Limited

31 July 2023

 

31 July 2023

AIQ Limited

("AIQ" or the "Company")

Statement re. Convertible Loan Note Facility

AIQ (LSE: AIQ) announces it has entered into an agreement (the "Agreement") to amend certain terms of the convertible loan note instrument that was executed by the Company and Li Chun Chung, Soon Beng Gee and Lee Chong Liang (the "Noteholders") on 24 January 2022 (the "Convertible Loan Note Facility"), as announced by the Company on 25 January 2022.

Under the terms of the Agreement, the expiration date of the convertible loan notes has been extended by a period of 12 months from 24 January 2024 to 24 January 2025. All other details of the Convertible Loan Note Facility remain unchanged and are as set out in the Company's announcement of 25 January 2022.

Related Party Transaction

The Noteholders are deemed to be related parties by virtue of their combined shareholdings of 38.5% and Li Chun Chung being an Executive Director. Harry Chathli and Dwight Mighty, being Independent Non-Executive Chairman and Non-Executive Director of the Company respectively, consider that the terms of the Agreement are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries

AIQ Limited	c/o [phone]
Harry Chathli, Chairman
Guild Financial Advisory Limited (Financial Adviser)	[phone]
Ross Andrews
Gracechurch Group (Financial PR)	[phone]
Claire Norbury

 

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