AIQ Limited Response to Share Price Movement (2563I)
March 31 2020 - 8:56AM
UK Regulatory
TIDMAIQ
RNS Number : 2563I
AIQ Limited
31 March 2020
31 March 2020
AIQ Limited
("AIQ" or the "Company")
Response to Share Price Movement
AIQ (LSE: AIQ), a special purpose acquisition company formed to
undertake one or more acquisitions of a company or business in the
e-commerce sector, notes the recent rise in the Company's share
price and confirms that it is not aware of any material reason for
the significant increase.
The Company published a prospectus on 20 March 2020 in which it
outlined the acquisition (via a reverse takeover) of Alchemist
Codes Sdn Bhd ("AIcodes") and its strategy for that business.
Following a period of six months of suspension as part of the
reverse takeover process, trading in AIQ's shares resumed with the
completion of the acquisition on 26 March 2020.
AIQ is now focused on implementing an operating strategy for
Alcodes with a view to generating value for its shareholders
through development and growth. However, it is too early to assess
the impact that the global economic disruption as a result of the
COVID-19 outbreak will have on the business and its ability to
deliver in the short-term. The Company will update the market on
progress with Alcodes as appropriate.
Enquiries
AIQ Limited
Graham Duncan, Chairman +44 (0)754 900 5681
VSA Capital Limited - Financial Adviser
and Broker
Andrew Raca (Corporate Finance)
Andrew Monk (Corporate Broking) +44 (0)20 3005 5000
Luther Pendragon (Media Relations)
Claire Norbury, Rachel So +44 (0)20 7618 9100
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END
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