Inqo Investments Ltd - Inqo announces Private Placing of £2.5m
RNS Number : 2964G
Inqo Investments Limited
01 March 2018
 

Inqo announces Private Placing of £2.5m

 

Inqo Investments Ltd ('INQO'), the NEX Exchange-listed social impact investment company is pleased to announce that it has raised gross proceeds of £1.25 million through the placing of 1,388,890 new ordinary shares (the "Placing Shares") with existing investors at a price of 90p per Placing Share (the "Placing"). The Placing Shares represent approximately 10.7% of the Company's issued share capital as enlarged by the Placing. This Placing is the first of two tranches with the second tranche of £1.25 million placed with the same investors on the same terms as the first tranche expected to take place in one year.

 

The net proceeds of the Placing will be used to execute on a range of additional opportunities the Company has identified in the healthcare, education and eco-tourism sectors in Africa. Inqo invests in businesses that are two to three years from profitability that have a direct social impact on the poor.  

 

The Placing Shares will rank pari passu with the Company's existing Ordinary Shares. Application will be made for the Placing Shares to be admitted to trading on London's NEX Exchange ("Admission") and it is expected that such Admission will become effective on or around 5 March 2018.

 

Following the Admission of the Placing Shares, there will be a total of 13,028,505 Ordinary Shares in issue with each share carrying the right of one vote. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

 

Enquiries

Inqo Investments Limited

Chris Bertie, Chief Financial Officer and

Chief Operating Officer                                                       Tel: +27 (0)83 6254069

 

Shard Capital Partners LLP

NEX Exchange Corporate Adviser and broker

Dr Wang Chong                                                                   Tel: +44 (0)20 7186 9948

 

About Inqo Investments Limited

'INQO' (www.inqo.co.za) is a South Africa-based social impact company listed on the London NEX Exchange. It makes strategic acquisitions and investments in businesses designed to tackle poverty and provide employment, products and services to the poor in Low Income Countries (LICs).

 


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