DJ Inqo Investments Limited Inqo announces Private Placing of £1m
RNS Number : 4921R
Inqo Investments Limited
28 February 2019
Inqo announces Private Placing of GBP1m
Inqo Investments Ltd ('INQO'), the NEX Exchange-listed social impact investment company is pleased to announce that it has raised gross proceeds of GBP1.0 million through the placing of 1,111,112 new ordinary shares (the "Placing Shares") with existing investors at a price of 90p per Placing Share (the "Placing"). The Placing Shares represent approximately 7.9% of the Company's issued share capital as enlarged by the Placing. This Placing is the second of two tranches with the first tranche of GBP1.23 million placed with the same investors on the same terms as the first tranche that took place 12 months ago.
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 2019.
Following the Admission of the Placing Shares, there will be a total of 14,111,839 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.
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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(END) Dow Jones Newswires
February 28, 2019 12:00 ET (17:00 GMT)