REG - IQ-AI Limited - Director Dealings and Conversion of CLNs

IQ-AIAnnouncement

15/01/2024 07:15

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RNS Number : 6148Z  IQ-AI Limited  15 January 2024

IQ-AI Ltd

("IQ-AI" or the "Company")

 

Director Dealings and Conversion of Convertible Loan Notes

IQ-AI Ltd has received convertible loan note conversion notices from Trevor
Brown, the CEO of IQ-AI, and Micheal Schmainda, a director of IQ-AI. Trevor
Brown is converting a total of £60,000 convertible loan notes and associated
interest, issued in May 2019, at a price of 1.5 pence, into 5,111,233 Ordinary
Shares. Michael Schmainda is converting a total of £18,500 convertible loan
notes and associated interest, issued in March 2019, at a price of 2 pence,
into  1,193,681 Ordinary Shares which will be issued to his wife, Kathleen
Schmainda (together the "CLN Shares").

 

Following the above transactions, Trevor Brown will hold 45,761,083 Ordinary
Shares, representing approximately 23.23 per cent. of the Company's enlarged
issued share capital. In addition, Kathleen Schmainda, who is also a
consultant and existing shareholder in IQ-AI, will hold 10,302,081 Ordinary
Shares, representing approximately 5.23 per cent. of the Company's enlarged
issued share capital.

 

IQ-AI has no outstanding convertible loan notes following the above
conversions.

 

An application will be made for 6,304,914 CLN Shares to be admitted to the
Official List of the UK Listing Authority by way of a Standard Listing
("Admission") and it is expected that Admission will become effective and that
dealing in the CLN Shares will commence on or around 8am on 19 January 2024.
The CLN Shares will rank pari passu with the existing ordinary shares of the
Company.

 

Following Admission, the Company will have 196,976,456 ordinary shares of
0.01p each in issue, none of which are held in treasury. Therefore, the total
number of voting rights in the Company will be 196,976,456.

 

The above figure of 196,976,456 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.

 

--ENDS-

 

The Directors of the Company accept responsibility for the contents of this
announcement.

 

For further information, please contact:

 

 IQ-AI Ltd

 Trevor Brown/Vinod Kaushal/Brett Skelly/Michael Schmainda

 Tel: 020 7469 0930 (tel:020%207469%200930)
 Peterhouse Capital Limited (Financial Adviser and Broker)

 Lucy Williams/Heena Karani

 Tel: 020 7220 9797 (tel:020%207220%209797)

 

 

About Imaging Biometrics® LLC:  IB is a wholly owned subsidiary of IQ-AI
Limited, (LON: IQAI), and focuses on delivering quantitative imaging platforms
and therapeutics that transform how clinicians diagnose and treat patients
more efficiently and effectively. For more information about Imaging
Biometrics, visit the company's website atwww.imagingbiometrics.com
(https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fprotect-eu.mimecast.com%2Fs%2FM_SLCE9EkfljEqsNN5Gd%3Fdomain%3Dimagingbiometrics.com&data=05%7C02%7Chk%40peterhousecap.com%7Cfeccf97d46e64dc9345e08dc150933d2%7C84c2ab3d172a440aaca526a12faeab25%7C0%7C0%7C638408376478871141%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=AWlx9geNOFrkZzGTLgpNtuXp1951MeR4%2BdkwkjzAgjc%3D&reserved=0)
. Follow IB on Twitter, @IQAI_IB.

 

 PDMR DEALINGS

 

 Notification and public disclosure of transactions by persons discharging
 managerial responsibilities and persons closely associated with them.
 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Trevor Brown
 2   Reason for the notification
 a)  Position/status                                              CEO
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         IQ-AI Ltd
 b)  LEI                                                          213800SPW48XRJS2QH57
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary Shares of £0.01 each

     Identification code

                                                                  ISIN:     JE00BD4H0R42
 b)  Nature of the transaction                                    Conversion of convertible loan notes
 c)  Price(s) and volume(s)                                       Exercise price of each convertible loan note :1.5p

                                                                  Volume: 5,111,233
 d)  Aggregated information

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      15 January 2024
 f)  Place of the transaction                                     Main Market

 

 

 Notification and public disclosure of transactions by persons discharging
 managerial responsibilities and persons closely associated with them.
 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Michael Schmainda
 2   Reason for the notification
 a)  Position/status                                              Director
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         IQ-AI Ltd
 b)  LEI                                                          213800SPW48XRJS2QH57
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary Shares of £0.01 each

     Identification code

                                                                  ISIN:     JE00BD4H0R42
 b)  Nature of the transaction                                    Conversion of convertible loan notes
 c)  Price(s) and volume(s)                                       Exercise price of each convertible loan note :2p

                                                                  Volume: 1,193,681
 d)  Aggregated information

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      15 January 2024
 f)  Place of the transaction                                     Main Market

 

 

 

 

 

 

 

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