Investment Evolution - Subscription, Directorate Changes & RPT
Announcement provided by
Investment Evolution Credit plc · IEC04/02/2025 07:00

4 February 2025
Investment Evolution Credit plc
("IEC", the "Company" or the Group)
Subscription, Directorate Changes, Director/PDMR Dealing, Related Party Transaction, Issue of Equity
Investment Evolution Credit plc (AQSE: IEC) - 4 February 2025: IEC, a global fintech group specialising in online consumer loans, is pleased to announce that it has raised
Subscription & Related Party Transaction
The Subscription is on the same terms of the subscription and broker option announced by the Company on 31 October 2024. The funds will be used to fund the Company's business plan and for general working capital purposes.
The participation in the Subscription by Richard Leaver, a director of the Company, is a related party transaction pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook (the "Transaction"). The Directors of IEC independent of the Transaction, being Neil Patrick and Glendys Aguilera confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of IEC are concerned.
Following the Subscription, Richard Leaver will hold the following number of shares in the Company:
Name |
Role |
Number of shares held prior to the Subscription |
Number of Subscription Shares subscribed for |
Resultant shareholding following the Subscription |
Percentage shareholding in enlarged issued share capital following Subscription |
Richard Leaver |
Director |
1,000,000 |
1,000,000 |
2,000,000 |
2.92% |
Directorate Changes
The Company announces that Marc Howells has resigned as Executive Director and CEO, effective 2 February 2025, to pursue his other business interests. Dr Richard Leaver will step into the role of CEO and has been appointed as Executive Director and CEO effective 2 February 2025. Dr Leaver was appointed Non-Executive Director of the Company on 1 January 2025 and was previously IEC Board Adviser from 1 October to 31 December 2024.
The Board thanks Marc for his contribution. Additionally, further to the announcement of 17 December 2024, the Company is no longer proceeding with the appointment of John Philip de Blocq van Kuffeler to the Board as Director & Executive Chairman.
In its recent Strategic Report, the Company confirmed its focus on acquisition opportunities as part of its buy and build strategy as well as incorporating extensive beneficial use of AI, particularly in the
Neil Patrick remains as independent Non-Executive Chairman and as Chairman of the Audit & Risk, Remuneration and Nomination & AQSE Rules Committees. Glendys Aguilera remains as Executive Director and General Manager, and Bob Mennie remains as Chief Financial Officer (non-board role). The Company intends to commence a search for a replacement independent non-executive director and will update the market in due course.
Admission
Application has been made for the 3,565,000 Subscription Shares to be admitted to trading on AQSE ("Admission") and it is expected that Admission will take place on, or around, 10 February 2025. The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of the Company.
Total Voting Rights
Following admission of the Subscription Shares, the Company's enlarged issued share capital will comprise 68,528,671 ordinary shares. The Company does not hold any shares in treasury. The figure of 68,528,671 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
About IEC
IEC is an AI driven, consumer finance fintech innovator with a mission to rehabilitate borrowers through better technology and fairer products. IEC is an experienced regulated licensed lender under the consumer brand Mr. Amazing Loans in
This announcement contains inside information for the purposes of the
Enquiries:
Investment Evolution Credit plc |
|
Neil Patrick, Director and Non-Executive Chairman |
iec@investmentevolution.com
|
Cairn Financial Advisers LLP (IEC AQSE Corporate Adviser) |
|
Ludovico Lazzaretti |
+44 (0) 20 7213 0880 |
Jo Turner |
|
|
|
For more information please visit: 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.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 |
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
||||
a. |
Name |
Richard Leaver |
|||
2 |
Reason for notification |
|
|||
a. |
Position/Status |
Director
|
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b. |
Initial notification/ Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||
a. |
Name |
Investment Evolution Credit plc |
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b. |
LEI |
984500ARA55ED7411Y77 |
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4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||||
a. |
Description of the financial instrument, type of instrument |
Ordinary Shares
ISIN: GB00BPQC9525 |
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b. |
Nature of the transaction |
Purchase of ordinary shares through a subscription |
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|
|
|
Price(s) per share (p) |
Volume(s) |
|
1p
|
1,000,000 |
|
|||
|
|||||
d. |
Aggregated information - Volume - Price |
- 1,000,000 - |
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e. |
Date of the transaction |
3 February 2025 |
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f. |
Place of the transaction |
AQSE, |
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