RNS Number : 8286X
IQ Holdings plc
21 August 2009
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 Total number of shares Holding (%)
issued
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
This information is provided by RNS
The company news service from the London Stock Exchange
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