REG - Investment Evolution - Strategy Update

OMV AGAnnouncement

02/04/2025 08:15

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RNS Number : 2255D  Investment Evolution Credit PLC  02 April 2025

2 April 2025

Investment Evolution Credit plc

 

("IEC", the "Company" or the "Group")

 

Strategy Update

 

Investment Evolution Credit plc (AQSE: IEC) - 2 April 2025: IEC, a global
fintech group specialising in online consumer loans, provides the following
strategy update and announces the signing of an introducer agreement between
the Company's wholly owned subsidiary, Investment Evolution AI Ltd, and a
large UK consumer finance supplier (the "Agreement").

 

Investment Evolution AI Ltd

The Company announces that it has changed the name of its 100% owned
subsidiary, MRAL UK Ltd, to Investment Evolution AI Ltd ("Investment Evolution
AI"). The Company plans to leverage its existing US consumer lending and
collections operations, experience and network with a new growth strategy
focused on the global distribution of Artificial Intelligence (AI) finance
related services specifically focused on lending, collections and debt
financing services.

 

The Company intends to investigate further utilisation of AI in its own US
consumer lending operational processes and seek additional strategic
collaborations, joint ventures and acquisitions in the AI sector globally,
including in AI deception detection services to increase underwriting and
collections performance. IEC also plans to investigate the potential to
conduct its own enhanced product/service development, territory customisation
and new service initiatives in conjunction with its current supplier and
future potential suppliers/partners.

 

Introducer Agreement

Further to the above, Investment Evolution AI has entered into a confidential
introducer agreement with a large UK consumer finance group (the "Supplier")
(the "Agreement"). The Supplier is a provider of credit underwriting and risk
management software, consultancy and other services, including debt financing
that enable third parties to offer lending and collection services solutions
to their clients.  Investment Evolution AI has secured the non-exclusive
rights to introduce the Supplier's services in the territories of the United
Kingdom, the United States of America, Canada, Australia, New Zealand, the
Philippines and all states in Africa.

 

Under the terms of the Agreement, the Supplier will pay Investment Evolution
AI a commission for any business introduced to the Suppler that enters into a
contract for services agreement, within a set time frame.

 

MRAL US Lending Operations and UK FCA Application

Further to the announcement on 17 December 2024, the Board of IEC has decided
that the Company will not focus on US loan book acquisitions, or expanding the
number of current US state consumer lending licenses it holds, but may revisit
these opportunities at a later stage. IEC remains in discussions with multiple
parties for potential debt funding, in addition to utilising its own capital,
to expand its US lending operations and the Company will seek continued
organic growth of its existing US consumer lending business.

 

Additionally, IEC is no longer continuing with the UK FCA lending application
process and has terminated all discussions related to UK consumer lending
business acquisitions, UK loan book acquisitions and UK debt funding.

 

About IEC

IEC is an AI driven, consumer finance fintech innovator that leverages its
regulated licensed lending and collections operations, experience and network
to distribute best-of-breed AI finance related services globally, specifically
focused on lending, collections and debt financing services. IEC operates
under the consumer brand Mr. Amazing Loans in the United States with state
consumer lending licenses/certificates of authority in the six states
of California, Florida, Georgia, Illinois, Nevada and New Jersey and
an established track-record of lending, collections and regulatory compliance
for over 14 years.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company accept responsibility
for the contents of this announcement.

 

Enquiries:

 

 Investment Evolution Credit plc
 Paul Mathieson - Chief Executive Officer                           iecenquiries@investmentevolution.com

 Cairn Financial Advisers LLP (IEC AQSE Corporate Adviser)
 Ludovico Lazzaretti                                               +44 (0) 20 7213 0880
 Jo Turner

 Oberon Capital (IEC Corporate Broker)
 Adam Pollock                                                      +44 (0) 203 179 5300

 Nick Lovering

 Jessica Cave

 Professional and institutional investors can contact Oberon Capital on
 corporatesales@oberoninvestments.com
 (mailto:corporatesales@oberoninvestments.com)

 

For more information please visit: www.investmentevolution.com/investors
(http://www.investmentevolution.com/investors)

 

Caution Regarding Forward Looking Statements

Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,'
'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements. These
statements are not a guarantee of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders and
prospective security holders not to place undue reliance on these
forward-looking statements, which reflect the view of the Company only as of
the date of this announcement. The forward-looking statements made in this
announcement relate only to events as of the date on which the statements are
made. The Company will not undertake any obligation to release publicly any
revisions or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of this
announcement except as required by law or by any appropriate regulatory
authority.

 

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