Aiq Limited Regulatory News (AIQ)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.

13 April 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, OR THE UNITED STATES OF AMERICA.

For Immediate Release

AIQ Limited

("AIQ" or the "Company")

Placing of Ordinary Shares and Update on Proposed Resumption of Trading

The Board of AIQ Limited, a special purpose acquisition company formed to undertake one or more acquisitions of a company or business in the e-commerce sector, today provides an update to the market on the proposed resumption of trading in the Company's shares. The Company also announces that is has raised approximately £115,000 (gross) by way of a placing of 575,000 new ordinary shares of 1p each (the "Placing Shares") at a price of 20p per Placing Share (the "Placing Price").

The Placing Shares will rank pari passu with the Company's existing ordinary shares. The Company has made an application for admission of the Placing Shares to the standard listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on 19 April 2018, at which point it is expected that the suspension will be lifted and trading of the Company's ordinary shares will resume.

The Placing Shares, when issued, are expected to represent approximately 1.1 per cent. of the Company's existing issued share capital. Following Admission of the Placing Shares, the Company will have 50,575,000 shares in issue.

The Placing proceeds will be used to provide further capital for acquisition, in line with the Company's strategy, and provides additional liquidity in the Company's shares.

In order to provide shareholders with an opportunity to participate in the fundraising, the Company is proposing to launch a 1 for 40 Open Offer (the "Open Offer") of 1,264,375 new Ordinary Shares of 1p (the "Open Offer Shares") at a price of 20p per Open Offer Share (the "Open Offer Price"), being the same price as the Placing Price.

The timing for the Open Offer will be notified in due course and will be set out in the Open Offer Circular to all shareholders, which is expected to be sent to shareholders following the expected resumption of trading, and enough time has elapsed to allow all outstanding trades to settle, and will be available on the Company's website www.aiqhub.com from the date this is issued. Assuming full take up under the Open Offer, the Company's total enlarged share capital would comprise 51,839,375 shares which, at a price of 20p, would capitalise the Company at approximately £10.3 million.

Enquires