Inteliqo Ltd - Notice of GM and Proposed Delisting
PR Newswire
LONDON, United Kingdom, February 12
12 February 2025
Inteliqo Limited
(the "Company" or "Inteliqo")
Notice of GM and Proposed Delisting
Inteliqo Limited (AQUIS: IQO) announces that a General Meeting ("GM") will be held on 27 February 2025 at 10:00 AM, at the company's registered office, Dixcart House, Sir William Place, St Peter Port, Guernsey, GY1 1GX. At this GM, shareholders will be asked to vote on a resolution to cancel the admission of the company's shares from trading on the AQSE Growth Market (the "Withdrawal Resolution").
Since the Company's admission to the AQSE Growth Market in August 2022, Inteliqo has primarily focused on supporting the development and marketing of the Langaroo App for their client.
Aligned with Inteliqo's long-term vision, the Company has been actively marketing the app to attract free users while working closely with Langaroo to enhance the app's core offerings, introduce new features, and establish a foundation for monetisation.
The Company's aim is to cultivate a dynamic global community that relies on Langaroo for communication, commerce, and cultural exchange. To achieve this, the Company are developing several key features, with the app's monetisation strategy centred on premium subscription services, platform fees on peer-to-peer transactions, and advertising revenue.
Building and monetising a platform of this scale requires time and dedicated resources. Over time, it has become clear that Inteliqo's current status as a publicly traded company is no longer aligned with its strategic objectives. Remaining listed imposes considerable costs and demands significant management time, which, the board of the Company believes, outweigh the advantages of public trading.
To support the Company's growth, delisting from the AQSE Growth Market would allow Inteliqo to redirect resources and reduce operational expenses, enabling reinvestment into development and marketing efforts, ultimately benefiting its shareholders.
Furthermore, the Company found the broader market conditions have seen a marked decline in liquidity and valuations for micro-cap quoted companies, impacted by ongoing global geopolitical tensions and economic pressures, including inflation and persistently high interest rates.
After thorough consideration, the board of Company have unanimously determined that delisting from the AQSE Growth Market serves the best interests of both the Company and its shareholders.
Subject to the Withdrawal Resolution being passed, trading in the Company's Shares will cease at 7:00 a.m., UK time, on 14 March 2025.
The Company's Shares are no longer available for cross-trading via the OTCQB Venture Market effective from the opening of the markets.
A circular, including the GM notice, will be posted to shareholders containing further information in relation to the proposed cancellation, and will be made available to Shareholders on the Company's website at https://www.inteliqo.com.
This announcement contains information that, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
The Directors take responsibility for this announcement.
**ENDS**
For more information, visit the Company's website: www.inteliqo.com or contact:
Inteliqo Limited Joseph Hill |
j.hill@inteliqo.com |
First Sentinel Corporate Finance Limited Brian Stockbridge |
+44 20 3855 5551 |
