Aiq Limited Regulatory News (AIQ)

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11 June 2018

AIQ LIMITED

("AIQ" or the "Company")

Result of Open Offer

Further to the Company's announcements of 13 April and 22 May 2018, AIQ (LSE: AIQ), a special purpose acquisition company ("SPAC") formed to undertake one or more acquisitions of a company or business in the e-commerce sector, is pleased to announce the result of the Open Offer for up to approximately £250,000 at 20 pence per Existing Ordinary Share, further details of which were set out in the Open Offer Circular (the "Circular") dispatched to Qualifying Shareholders on 22 May 2018.

The Open Offer has been oversubscribed, with valid acceptances, including excess applications, for 1,862,109 Open Offer Shares, representing a take up of 147% of the Open Offer Shares available under the Open Offer. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement. Applications under the Excess Application Facility will be scaled back pro rata to the number of Excess Shares applied for by Qualifying Shareholders. The Company has therefore raised gross proceeds of approximately £250,000 through the Open Offer.

Application has been made for these 1,264,375 Open Offer Shares, which will rank pari passu in all respects with the Existing Ordinary Shares, to be admitted to trading on the Main Market of the London Stock Exchange. It is expected that Admission of the Open Offer Shares will occur, and dealings will commence, at 8.00 a.m. on 13 June 2018.

Pursuant to the Placing completed in April 2018 and the Open Offer, the Company has raised total gross proceeds of approximately £365,000 via the issuance of 1,839,375 Placing and Open Offer Shares.

Following Admission, the Company's enlarged issued share capital will comprise 51,839,375 Ordinary Shares, with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 51,839,375. This figure 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.

Graham Duncan, Chairman of AIQ, commented:

"We are delighted by the uptake under the Placing and Open Offer. The funds raised will be used for further capital for acquisition, in line with our stated strategy, and provide additional liquidity in the Company's shares. We would like to thank shareholders for their ongoing support and we look forward to reporting on our progress in due course."

All defined terms in this announcement have the meanings given to them in the Circular.

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