Subscription, Broker Option and Director's Dealing

                31 October 2024

Investment Evolution Credit plc

("IEC", the "Company" or the Group)

Subscription, Broker Option, Director's Dealing, Related Party Transaction and Issue of Equity

Investment Evolution Credit plc (AQSE: IEC) - 31 October 2024: IEC, a global fintech group specialising in online consumer loans, announces that, via a subscription from existing shareholders only, it has raised £457,526.96 via a subscription through the issue of 45,752,696 new ordinary shares of £0.005 each in the Company ("Subscription Shares") at a price of £0.01 per share ("Subscription"). The funds raised will be used to fund the Company's business plan and for general working capital purposes.

Broker Option

A significant number of the Company's existing shareholder have participated in the Subscription.  In order to provide all existing shareholders the option to participate in the Subscription in the event they have not had the opportunity to do so, the Company has granted the Company's broker, Axis Capital Markets, an option ("Broker Option") over 3,000,000 new ordinary shares.  In the event the Broker Option is fully subscribed for, this would raise a further £30,000 before expenses for the Company.

The Broker Option is only available to existing shareholders and, for the avoidance of doubt, will not be made available to the public or in jurisdictions where it would be unlawful to do so.

The Broker Option is expected to close at 5.00 p.m. on 4 November 2024 ("Closing Date"). As far as is practical, participation in the Broker Offer will be available for eligible shareholders (direct or indirect) on the register at the close of business on 30 October 2024 ("Existing Shareholders"). In the event any Existing Shareholders subscribe for additional new ordinary shares pursuant to the Broker Option, a further announcement will be made following the Closing Date with details of further subscription. If the Broker Option is not fully subscribed the Closing Date, orders from eligible investors will be satisfied in full ("Further Subscription") and the balance of the Broker Option shall lapse. In the event the Broker Option is fully subscribed for, the Company and its broker may scale down any subscriptions received and may accept offers for subscription in the order in which they are received. Application for admission to trading on the AQSE Growth Market ("Admission") for the Further Subscription will only occur following receipt of subscription proceeds. In the event Further subscription proceeds are not received by 7 November 2024, the Company will reject such subscriptions.

To subscribe for the Broker Option, Existing Shareholders should contact their broker to communicate any bids to the Company's broker, as the Company's broker will not accept orders from Existing Shareholders who are not clients.  

Shareholder Participation, Director's Dealing and Related Party Transactions

Certain existing shareholders, including a director, who hold more than 3 per cent. of the existing issued share capital of the Company have participated in the Subscription as follows:

The participation by Paul Mathieson, a director, and Sam Prasad, a former director, in the Subscription is a related party transaction as pursuant to Rule 4.6 of the AQSE Growth Market Access Rulebook (the "Transaction").

The Directors of IEC, independent of the Transaction confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of IEC are concerned.

Admission

The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of the Company. Application for Admission of the 45,752,696 Subscription Shares has been made and it is expected that Admission will take place on, or around, 5 November 2024.

As noted above, a further announcement will be made in respect of Admission for any shares pursuant to the Further Subscription.

Total Voting Rights

Following admission of the Subscription Shares, the Company's enlarged issued share capital will comprise 62,013,671 ordinary shares. The Company does not hold any shares in treasury. The figure of 62,013,671 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

For more information please visit: www.investmentevolution.com/investors  

About IEC

IEC is an experienced regulated licensed lender under the consumer brand Mr. Amazing Loans in the United States with state consumer lending licenses/certificates of authority in the 6 states of California, Florida, Georgia, Illinois, Nevada and New Jersey and an established track-record of regulatory compliance for over 14 years. IEC plans to expand its United States lending model to the United Kingdom market in due course by providing £2,000 to £10,000 online personal loans with fixed affordable repayments, subject to the receipt of all necessary authorisations and permits.

Caution Regarding Forward Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.