Last checked at 21 Aug 2009 12:01
IQ Holdings plc ("IQ Holdings" or the "Company")
(AIM: IQH)
Issue of equity
It has been agreed by the Board that the remuneration of the three non-executive directors for the six months ended 31 July 2009 will be satisfied in whole or in-part by the issue of shares in the Company. These shares are to be at the price of 0.25p being the average mid-market price over the last five working days.
Accordingly, 7,200,000 Ordinary Shares of 0.01p in the Company ("Ordinary Shares") have been issued at a price of 0.25p.
As a result the beneficial current holdings of the non-executive directors of the Company are as follows:
| Name | Amount of shares issued | Total number of shares | Holding (%) |
| Tim Michael Hearley | 2,200,000 | 3,018,750 | 0.24 |
| Neil Grant McGowan | 2,500,000 | 3,437,500 | 0.27 |
| Joachim Eberhard Seydel | 2,500,000 | 5,416,667 | 0.43 |
| 7,200,000 |
In addition, 3,000,000 Ordinary Shares were issued in settlement of certain liabilities of the Company.
Accordingly, 10,200,000 Ordinary Shares have been issued at a price of 0.25p. Application for the admission of these Ordinary Shares for trading on AIM has been submitted and dealings are expected to commence on 27 August 2009.
After the issue of these new ordinary shares, the Company's total issued capital, with voting rights will be 1,261,786,774Ordinary Shares.
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For further information, please contact:
| IQ Holdings plc | |
| Julian Green | Tel: +44 (0)20 8099 0560 |
| Nominated Adviser: Grant Thornton UK LLP | |
| Gerry Beaney | Tel: +44 (0) 20 7383 5100 |
| Nominated Broker: Rivington Street Corporate Finance Limited | |
| Monisha Varadan | Tel: +44 (0)20 7562 3389 |
| Financial PR: Bishopsgate Communications | |
| Gemma O'Hara | Tel: +44 (0) 20 7562 3355 |