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Inqo Investments Ltd (INQO)

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Monday 30 November, 2015

Inqo Investments Ltd

Admission to ISDX Growth Market, London

RNS Number : 2921H
Inqo Investments Limited
30 November 2015
 

Inqo Investments Limited

 

 

Admission of the first social impact company on the ISDX Growth Market, London.

 

London, 30th November 2015

 

Highlights

·      A social impact company using enterprise to tackle poverty focused primarily on Sub-Saharan Africa

·      Asset-backed with a 39,000 acre (157.8 sq km) safari game park and a 5-star lodge

·      Cash holding of R24m

·      Experienced management team

·      Pipeline of new social impact companies

 

Inqo Investments Limited (ISDX: INQO) today announced its Introduction onto the ISDX Growth Market (ISDX). The company is seeking Admission for all its issued Shares to the ISDX.  It is the first social impact company from South Africa to gain Admission to the ISDX.

 

INQO is a South Africa-based social impact company that acquires businesses that tackle poverty and the social needs of the poor and low income people at the base of the pyramid in Sub-Saharan Africa.  The company seeks to acquire or make strategic investments in enterprises that are scalable and have potential for growth and monitors their social impact. It will acquire businesses that provide services and products to the poor that tackle poverty and climate change issues.

 

Social impact investment is an emerging asset class intentionally designed to address poverty issues that have measureable social and/or environmental impact. INQO's Admission to the ISDX will make available an opportunity to invest in this emerging asset class.

 

INQO currently owns the Kuzuko Game Reserve in the Eastern Cape, South Africa which comprises approximately 39,000 acres of freehold land and the 5-star Kuzuko Lodge. The Kuzuko Game Reserve is managed in partnership with the South Africa National Parks (SANP).

 

INQO currently has two subsidiaries:

·    Kuzuko Lodge Pty Ltd - a 5-star 'Big Five' eco-tourism business managed in partnership with the Legacy Hotels Group (South Africa) on the Kuzuko Game Reserve

·   Spekboom Trading Pty Ltd - a spekboom re-forestation and carbon sequestration company. Spekboom is an indigenous shrub in the Eastern Cape and is fed upon by all herbivores.

 

Summary of Social & Environmental Metrics since project commencement:

·   39,000 acres of former farmland restored as a game reserve in a region of endemic poverty in the poorest province in South Africa

·     Largest contributor to the local economy bringing in foreign exchange from tourists

·   Jobs created (Minimum 1 year employment): 350 with increasing annual wages. Intentional employment of  Previously-disadvantaged Individuals (PDIs)

·     Increased income tax paid year on year

·     All staff in standard housing with indoor flush toilets, power, water and solar panels

·     Conservation of 3 endangered species

·     Breeding of disease-free buffalo

·     Re-forestation of 500 acres of degraded land with spekboom, an indigenous shrub to the Eastern Cape, South  Africa.

 

INQO will be making further acquisitions and strategic investments in other business sectors that meet its social

and environmental impact criteria.

 

More information, including its Admission Document can be found on the company's website www.inqo.co.za 

 

Enquiries:

 

Inqo Investments Limited

Mr Chris Bertie, Chief Financial Officer

and Chief Operating Officer                                      Tel: +27 (0)83 625 4069

 

Shard Capital Partners LLP

ISDX Corporate Adviser and Broker

Dr Wang Chong                                                      Tel: +44 (0)20 7186 9948  


This information is provided by RNS
The company news service from the London Stock Exchange
 
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