Inqo Investments Limited Raising of US$ 1 million in shareholder funding (4185T)
20 März 2023 - 8:00AM
UK Regulatory
TIDMINQO
RNS Number : 4185T
Inqo Investments Limited
20 March 2023
Inqo Investments Limited
Inqo announces the raising of US$ 1 million in shareholder
funding
Inqo Investments Limited (INQO) the ASQE Exchange listed social
impact investment company is pleased to announce that it has raised
gross proceeds of US$1 million through the signing of a Convertible
Loan Note (CLN) with a new investor in the shares of Inqo.
In terms of the signed CLN the investor will have the option to
convert the zero coupon note at any time at a 5% discount to the
previous day's closing share price from 1 March 2023 to 28 February
2024 and at a 10% discount to the previous day's closing share
price from 1 March 2024 to 28 February 2025. When converted the
shares will rank pari-passu with the Company's existing Ordinary
Shares.
The net proceeds of the CLN will be used for working capital and
to execute a range of new investment opportunities that Inqo have
identified for potential investment in businesses in sub-Saharan
Africa which have a positive impact on the environment and the
poor. This includes the current Conservation and Rural Enterprise
(CARE) project in the Budongo Forest, Uganda where a luxury tented
lodge is being built plus a number of joint-venture enterprises
that are being initiated.
Enquiries
Inqo Investments Limited Tel: +27 (0)83 625 4069
Chris Bertie, Chief Financial Officer Email: cbertie@acland.co.za
and Chief Operating Officer
Hobart Capital Markets LLP
AQSE Corporate Adviser and Broker Tel: +44 (0)20 7070 5665
Dr Wang Chong Email: wang.chong@hobartcapital.com
About Inqo Investments Limited
"INQO" ( www.inqo.co.za ) is a South African based social impact
company listed on the London Aquis Stock 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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