Issue of equity and Director share transfer


 

TIDMIQH 
 
RNS Number : 3749R 
IQ Holdings plc 
29 April 2009 
 

29 April 2009 
 
 
 
 
IQ Holdings plc ("IQ Holdings" or the "Company") 
(AIM: IQH) 
 
Issue of equity and Director share transfer 
 
 
Issue of Equity: 
 
 
It has been agreed by the Board to allot shares in settlement of certain 
liabilities of the Company. Accordingly, 16,466,500 Ordinary Shares of 0.01p in 
the Company ("Ordinary Shares") have been issued at a price of 0.20p, being the 
average mid market price of the Company's shares for the five days immediately 
prior to 27 April 2009. 
 
 
Related Party Transactions: 
 
 
In addition, 3,750,000 Ordinary Shares were issued to Peter William Parkinson at 
a price of 0.20p in respect of past services provided to the Company. Due to Mr. 
Parkinson being a Director of the Company in the past 12 months, the transaction 
is classified as a related party transaction in accordance with Rule 13 of the 
AIM Rules. Therefore the current 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. 
 
 
Further, as part of the terms of employment for John Mitchel, Finance Director 
of IQ Holdings, it had been agreed that he would be issued shares to the value 
of GBP25,000 in the Company.  Accordingly 12,500,000 Ordinary Shares have been 
issued at  at a price of 0.20p, being the average mid market price for the five 
days immediately prior to 27 April 2009. As Mr. Mitchel is a Director of the 
Company the share issue falls to be treated as a related party transaction in 
accordance with Rule 13 of the AIM Rules. Consequently, the independent 
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. As a result of the transaction Mr. Mitchel's holding in the 
Company is now 1.00% of the issued share capital. 
 
 
Application for the admission of the 32,716,500 new ordinary shares for trading 
on AIM has been submitted and dealings are expected to commence on 6 May 2009. 
 
 
After these transactions, the Company's total current issued capital, with 
voting rights is 1,251,586,774 Ordinary Shares. 
 
 
Share Transfer: 
 
 
Joachim Eberhard Seydel, Non-executive Director of the Company, has agreed to 
transfer 2,083,333 Ordinary Shares to an unconnected 3rd Party for nil 
consideration. As a result of this transfer Mr. Seydel's holding in the Company 
falls to 2,916,667 Ordinary Shares, representing 0.23% of the Company's issued 
share capital. 
 
 
=-END- 
 
 
 
 
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:                         |                            | 
| SVS Securities plc                        |                            | 
+-------------------------------------------+----------------------------+ 
| Ian Callaway                              |            Tel: +44 (0) 20 | 
|                                           |                  7638 5600 | 
+-------------------------------------------+----------------------------+ 
 
 
+-------------------------------------------+----------------------------+ 
| 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 
   END 
 
 IOEPUURWCUPBGGB
IQ Holding (LSE:IQH)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024