Last checked at 6 Jan 2010 12:32
6 January 2010
IQ Holdings plc ("IQ Holdings" or the "Company")
(AIM: IQH)
Issue of equity
It has been agreed by the Board to allot shares in settlement of certain liabilities of the Company. Accordingly, 23,209,000 Ordinary Shares of 0.01p in the Company ("Ordinary Shares") have been issued at a price of 0.20p per share.
The shares are to be issued to Rivington Street Holdings plc and various of its subsidiaries. Due to Rivington Street Holdings plc being a substantial shareholder, the transaction is classified as a related party transaction in accordance with Rule 13 of the AIM Rules. Therefore the Directors, having consulted with the Company's nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
Application for the admission of the 23,209,000 new ordinary shares for trading on AIM has been submitted and dealings are expected to commence on 12 January 2010
After the issue of these shares the Company's total current issued capital with voting rights is 1,284,995,774 Ordinary Shares.
--END-
For further information, please contact:
| IQ Holdings plc | |
| Julian Green | Tel: +44 (0)20 8099 0560 |
| Nominated Adviser: Grant Thornton Corporate Finance | |
| Gerry Beaney | Tel: +44 (0) 20 7383 5100 |
| Nominated Broker: Rivington Street Corporate Finance | |
| Dru Edmonstone | Tel: +44 (0)20 7562 3389 |
| Financial PR: Bishopsgate Communications | |
| Gemma O'Hara | Tel: +44 (0) 20 7562 3355 |