Iq Power AG (fka IQPOF)

[Aduke]

28.09.2011

Capital Raising Successfully Concluded


40,000,000 new registered shares with a nominal value of CHF 0.03 each placed at a subscription price of EUR 0.048 per share

New shares to be used to fund further corporate growth


iQ Power AG has announced the successful placement of the rights issue to raise capital that was announced on 22 September 2011. The approved capital increase that was decided in the board of directors’ meeting on 21 September 2011 has been carried out and the company’s share capital has been increased by CHF 1,200,000.00 through the issue of 40,000,000 registered shares having a nominal value of CHF 0.03 each.

With the filing of the capital increase in the commercial register of the Canton of Zug, Switzerland, the total number of iQ Power AG registered shares increased accordingly to 456,878,276, a figure that also reflects the bonds that have been converted to date into registered shares in connection with the convertible bond issue. These new registered shares are fully entitled to dividends beginning on 1 January 2011. The issue price for each new registered share was EUR 0.048. The contributions for these new shares were made by offsetting against the shareholder loan provided by the major shareholder KG Power Inc., Seoul, Korea.

These new shares will be used to fund further corporate growth, particularly for acquiring the majority interest in a lead recycling and battery manufacturing plant in Bosnia-Herzegovina, and to undertake the investments that are planned for that location.

The Board of Directors


http://www.iqpower.com/index.php?pid=1,1&id_news=961