LONDON, July 6, 2026, 12:05 BST
- AIQ saw its last trade at 7.388p, with 954 shares changing hands, up 13.66% on the day, for a total value of £70.48.
- The company put out an initial £0.5 million of interest-free convertible notes as part of a wider facility that could total £2 million.
- If the whole new facility converted at 5p per share, that would be 40 million shares, or about 62% of AIQ’s issued share capital.
AIQ Limited (LON:AIQ) advanced Monday after the tech company secured new convertible funding. But the move was on thin volume, with market data showing a single trade of 954 shares at 7.388p, for £70.48, at 11:20:23 BST. The shares were marked up 0.89p, or 13.66%, against a previous 6.50p close, giving the group a £4.78 million market cap. Prices were delayed by at least 15 minutes.
The report is from the London session. London Stock Exchange trades from 8:00 a.m. to 4:30 p.m. BST, according to .
AIQ announced it has signed a deal with China International Securities Ltd from Hong Kong for up to £2 million in convertible loan notes, unsecured and interest-free. The first £0.5 million was issued July 3, with the rest up to £1.5 million available until Aug. 14 in tranches. These notes mature July 3, 2028, and convert at 5p per share. AIQ plans to use the funds for working capital, building data centres, AIQ Vision and possible debt repayment.
| July 6 market snapshot | AIQ |
|---|---|
| Closed yesterday at | 6.50p |
| Most recent trade | 7.388p |
| Total volume today | 954 shares |
| Turnover today | £70.48 |
| Market cap shown | £4.78 mln |
| Full new note as % of mkt cap | 41.8% |
| Discount to latest trade (convert price) | 32.3% |
The price move is less important than the share math here. Hargreaves Lansdown shows 64.76 million AIQ shares outstanding, while AIQ’s 2022 RNS put its convertible notes at £500,000. The latest filing changes that, resetting the old notes to a 5p conversion price and pushing the maturity to July 3, 2028.
| Principal at 5p | New shares issued | % of current 64.76 mln shares | % of total after conversion |
|---|---|---|---|
| Initial new note: £0.5 mln | 10.0 mln | 15.4% | 13.4% |
| Full new facility: £2.0 mln | 40.0 mln | 61.8% | 38.2% |
| Existing 2022 notes: £0.5 mln | 10.0 mln | 15.4% | 13.4% |
| Full new + existing principal: £2.5 mln | 50.0 mln | 77.2% | 43.6% |
The dilution isn’t automatic. The new noteholder can’t convert if conversion would take its stake above 25% of AIQ. Based on the current number of shares and if the noteholder doesn’t own ordinary shares, that would cap conversions at about 21.6 million shares, or £1.08 million in principal, unless the share count changes. AIQ can refuse a conversion notice if it would trigger the need for a prospectus.
AIQ is looking to raise cash while its balance sheet stays thin. LSEG numbers from Reuters point to no revenue for 2025, a net loss of £447,590, debt at £1.10 million, total liabilities of £1.26 million and total assets of £52,910.
The new facility is bigger than AIQ’s most recent total debt and is about 38x the last reported total assets. So for holders, conversion price and timing matter more than the lack of cash interest.
Existing noteholders will see lower future cash interest but also a reduced conversion price after the July 6 changes. The old 2022 notes paid 5% a year and converted at the lower of 11p or the seven-day VWAP. Under the new deed, the conversion price is set at 5p, future interest payments are dropped, and the notes can now be transferred if they clear KYC and AML checks.
AIQ said current noteholders are related parties since they own 38.5% of the firm, and Li Chun Chung is an exec director. Independent chair Harry Chathli said the terms looked “fair and reasonable insofar as the Company’s shareholders are concerned,” according to the filing. Investegate
