We are looking at this new float with AIQ Limited listing on the London Stock Exchange, UK yesterday.
AIQ Limited (LSE: AIQ), a special purpose acquisition company (“SPAC”) incorporated in the Cayman Islands and formed to undertake one or more acquisitions of target companies or businesses in the e-commerce sector, is pleased to announce the admission of its ordinary shares to the standard listing segment of the Official List of the UK Listing Authority and that trading in its ordinary shares will commence on the London Stock Exchange’s main market for listed securities at 8 a.m. today, under the ticker AIQ (“Admission”) and with the ISIN number KYG0180A1022
The Company has successfully raised gross proceeds of approximately £4 million (before expenses) through subscriptions at a subscription price of 8 pence per subscription share. Following Admission, the Company will have 50,000,000 ordinary shares of par value of 1 pence each in issue.
· Following Admission, AIQ is seeking to acquire one or more target companies or businesses in the e-commerce sector with a particular focus on opportunities in data mining, artificial intelligence technologies and social and online media such as instant messaging platforms. While not limited to a particular geographic region, the directors expect they will initially focus on acquiring companies or businesses in Europe, the US and/ or Asia;
· Strong board with considerable knowledge and experience of the social media and the online e-commerce sector in general, particularly with respect to the integration of technologies and social media to e-commerce business to increase the competitive advantage;
· The acquisition strategy of AIQ will be focussed towards companies or businesses which:
o are run by a management team with a strong track record for generating growth for shareholders and a proven experience business record; and/ or
o have attractive commercial prospects within the e-commerce or social marketing sectors in general; and/ or
o are within lower risk jurisdictions, within countries with a strong focus on protecting investors’ interests, low sovereign risk and those that encourage and incentivise investment; and/ or
o have revenues which offer the potential for near-term positive cash flows; and/ or
o can be funded adequately and be capable of delivering a realistic plan of achieving credible milestones and significant growth opportunities for shareholders.
· Following any acquisition the Company will implement an operating strategy to generate value for its Shareholders through;
o operational improvements;
o potential complementary acquisitions; and
o re-admission of the enlarged group to listing on the Official List and to trading on the London Stock Exchange, or to another exchange.
Copies of the Prospectus, published by the Company on 4 January 2018 in connection with Admission are available from the office of the Company’s Financial Adviser and Broker, VSA Capital Limited, located at New Liverpool House, 15-17 Eldon Street, London EC2M 7LD, the Company’s website at www.aiqhub.com and at the National Storage Mechanism at www.morningstar.co.uk/uk/NSM.
The Directors of the Board are as follows:
Graham Duncan, Independent Non-Executive Chairman
Graham Duncan is a UK based chartered accountant with more than 20 years’ capital markets experience. He also holds the Corporate Finance Diploma issued by the Institute of Chartered Accountants in England and Wales. He is currently Chief Financial Officer to Code Investing Limited, an FCA regulated financial technology company that connects investors with small and medium enterprises seeking finance. He has specialised in advising quoted companies since 2000 with regard to financial reporting, transaction support and regulatory compliance. Since 2013, Graham has run a consultancy business providing advice to growing private and public companies in the UK and internationally. Clients have included Learning Technologies Group (an AIM-quoted e-leaning services and technologies business); Blue Prism (an AIM-quoted
provider of an enterprise-strength Robotic Process Automation software platform); TechFinancials Inc (an AIM quoted software developer that supplies simplified trading solutions to online brokers); and Escape Hunt Group, (an AIM-quoted global provider of live ‘escape the room’ experiences). Until 2013, Graham was a capital markets director with Mazars LLP in London. Graham has worked closely with Asian companies and advised on the AIM admission of Pixel Media (a Hong-Kong based online advertising and media company) and Velosi Group (a Malaysian oil services company). He confirmed that he previously worked for an international firm of chartered accountants in Asia and was based in Hong Kong between 1993 and 1996. Between November 2014 and May 2016 he served as a non-executive director to Waratah Resources Limited, a company listed on the Australian Stock Exchange. He resides in the UK.
Soon Beng Gee (“Nicholas”), Executive Director
Nicholas has broad industry experience, having operated businesses in the retail, trading and e-commerce sectors as well as in social commerce, having worked in talent management and on-line marketing companies. He is currently the director and shareholder of Plymouth Infotech Limited (“Plymouth Infotech”), a company focused on information technology system services and business consultancy services for companies based in South East Asia, primarily in the e-commerce industry. Nicholas began his career in foreign exchange trading and became an early pioneer of automated trading in the Malaysian market, which introduced him to many customers – including high net worth individuals. He developed an automated trading platform to operate across multiple industries, notably in the sphere of media, e-commerce and social networking. He worked for MAMA11 MART (M) Sdn. Bhd. (“MAMA11”), which acquired vending machines. He introduced in-house software and hardware development and implemented real time stock updating systems to the vending machines. Now MAMA11 has become a retail automation specialist and leading vending machine service provider in the retail industry in Asia. He sold MAMA11 in 2017. Recently he has focused on business consultancy where he specialises in retail automation strategy and marketing with an emphasis on leveraging the purchasing power of social media. Nicholas graduated from the University of Westminster with a Master of Arts in International Business and Management in 2010. He currently resides in Malaysia.
Lee Chong Liang (“Marcus”), Executive Director
Marcus has over eight years’ experience in business consultancy, specialising in shaping business models and entrepreneur mentoring. He currently works closely with Soon Beng Gee in Plymouth Infotech Limited, a company focused on information technology system services and business consultancy services for companies based in South East Asia, primarily in the e-commerce industry. Mr. Lee’s principal responsibilities include business training with a focus on marketing and increasing revenue growth through strengthening brands, increasing member and consumer royalties and turnaround activities. Between 2010 to 2016, Marcus worked for Red Antz Event Sdn. Bhd. a company focused on event management and business consultancy services, as an associate providing business mentoring services to clients based in South East Asia. Over the course of his career Marcus has been a business mentor and has provided entrepreneur training seminars to a wide variety of companies, including blue chip corporations. He graduated from the University of Nottingham Trent with a Master of Science in International Real Estate Investment and Finance in 2009. He currently resides in Malaysia
Harry Chathli, Independent Non-Executive Director
Harry is an experienced capital markets specialist with 25 years experience in advising global companies, organisations and government agencies. Currently he is a director of Luther Pendragon Ltd, an independent communications consultancy, and a director of a capital markets advisory consultancy, Access Capital Markets. He is also Chairman of Lokcom Networks Ltd, an internet-of-things technology start-up company and a Nonexecutive Director of Green & Smart Holdings plc, a Malaysian AIM-quoted renewable energy company. Over the past 18 years he has advised public companies listed on the London Stock Exchange’s main market and quoted on AIM, as well as on NASDAQ and other international bourses. Clients have included Taptica International Ltd, a mobile advertising technology company; Plus500 Ltd, an online service provider for retail customers to trade contracts-for-difference; Eckoh plc, a global provider of secure payment products and customer contact solutions; and ClearStar Inc, a technology and software-as-a-service provider to the background check industry. He has also worked within Asia, including advising on the IPOs of Malaysian companies Teliti International Ltd, software solutions business, renewable energy businesses MayAir Group plc and Green & Smart Holdings Ltd. Harry’s experience includes advising on international M&A deals, IPOs, MBOs, crisis communications as well as financial PR starting in 1998 at Brunswick Group, a global partnership advising on business critical issues to companies in 14 countries. Prior to that, Harry worked for Adam Smith International, a global advisory and consulting business, with his particular focus being Vietnam. In 2004, he established a financial PR company, Corfin, which was then acquired by Luther Pendragon in 2011. He resides in the UK.
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