Raising of US$ 1 million in shareholder funding
20/03/2023 07:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230320:nRST4185Ta&default-theme=true RNS Number : 4185T Inqo Investments Limited 20 March 2023 Inqo Investments Limited Inqo announces the raising of US$ 1 million in shareholder funding Inqo Investments Limited (INQO) the ASQE Exchange listed social impact investment company is pleased to announce that it has raised gross proceeds of US$1 million through the signing of a Convertible Loan Note (CLN) with a new investor in the shares of Inqo. In terms of the signed CLN the investor will have the option to convert the zero coupon note at any time at a 5% discount to the previous day's closing share price from 1 March 2023 to 28 February 2024 and at a 10% discount to the previous day's closing share price from 1 March 2024 to 28 February 2025. When converted the shares will rank pari-passu with the Company's existing Ordinary Shares. The net proceeds of the CLN will be used for working capital and to execute a range of new investment opportunities that Inqo have identified for potential investment in businesses in sub-Saharan Africa which have a positive impact on the environment and the poor. This includes the current Conservation and Rural Enterprise (CARE) project in the Budongo Forest, Uganda where a luxury tented lodge is being built plus a number of joint-venture enterprises that are being initiated. Enquiries Inqo Investments Limited Tel: +27 (0)83 625 4069 Chris Bertie, Chief Financial Officer and Chief Operating Officer Email: cbertie@acland.co.za Hobart Capital Markets LLP AQSE Corporate Adviser and Broker Tel: +44 (0)20 7070 5665 Dr Wang Chong Email: wang.chong@hobartcapital.com About Inqo Investments Limited "INQO" (www.inqo.co.za (http://www.inqo.co.za) ) is a South African based social impact company listed on the London Aquis Stock Exchange. It makes strategic acquisitions and investments in businesses designed to tackle poverty and provide employment, products and services to the poor in Low Income Countries (LICs). This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NEXGPUPPWUPWGQM