Investment Evolution - Subscription, Conversion and Issue of Equity

7 April 2025

Investment Evolution Credit plc

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

Subscription, Conversion and Issue of Equity

Investment Evolution Credit plc (AQSE: IEC) - 7 April 2025: IEC, a global fintech group specialising in online consumer loans, is pleased to announce that it has raised £104,000 via a subscription through the issue of 10,400,000 new ordinary shares of £0.005 each in the Company ("Subscription Shares") at a price of £0.01 per share ("Subscription"). The net proceeds will be used to fund the Company's business plan and for general working capital purposes.

Conversion of Debt

In addition to the Subscription, the Company has issued 2,125,000 new ordinary shares of £0.005 each in the Company ("Conversion Shares") at price of £0.01 per share, in partial settlement of an existing loan facility provided by Sam Prasad, a former director of the Company, announced on 30 September 2024. The issue of Conversion Shares will offset a portion of the existing loan and accumulated interest, amounting to £21,250. Repayment of the outstanding balance of the loan (approximately £140,000) and accrued interest by the Company has been extended to 1 July 2025.

The Conversion Shares have been issued to Sam Prasad and L Prasad Pty Ltd as part of the settlement arrangements. While L Prasad Pty Ltd was not a lender under the loan agreement, the portion of Conversion Shares issued to L Prasad Pty Ltd has been treated as a conversion of Sam Prasad's loan on his instruction. The Company will continue to assess options for settling the remaining balance of the loan, which may include further equity conversions or securing additional funding, closer to the revised maturity date.

Related Party Transaction

The issue of the Conversion Shares to Sam Prasad, a former director, is a related party transaction 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 and Conversion Shares (together, the "New Ordinary Shares") will rank pari passu in all respects with the existing ordinary shares of the Company. An application will be made for the 12,525,000 New Ordinary Shares to be admitted to trading on AQSE ("Admission") and it is expected that Admission will take place on, or around, 10 April 2025.

Total Voting Rights

Following admission of the New Ordinary Shares, the Company's enlarged issued share capital will comprise 81,053,671 ordinary shares. The Company does not hold any shares in treasury. The figure of 81,053,671 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 AI driven, consumer finance fintech innovator that leverages its regulated licensed lending and collections operations, experience and network to distribute best-of-breed AI finance related services globally, specifically focused on lending, collections and debt financing services. IEC operates under the consumer brand Mr. Amazing Loans in the United States with state consumer lending licenses/certificates of authority in the six states of California, Florida, Georgia, Illinois, Nevada and New Jersey and an established track-record of lending, collections and regulatory compliance for over 14 years.

Investment Evolution AI Ltd, a wholly owned subsidiary of IEC, has entered into a confidential introducer agreement with a large UK consumer finance group (the "Supplier"). The Supplier is a provider of credit underwriting and risk management software, consultancy and other services, including debt financing that enable third parties to offer lending and collection services solutions to their clients.  Investment Evolution AI has secured the non-exclusive rights to introduce the Supplier's services in the territories of the United Kingdom, the United States of America, Canada, Australia, New Zealand, the Philippines and all states in Africa.

The Company intends to investigate further utilisation of AI in its own US consumer lending operational processes and seek additional strategic collaborations, joint ventures and acquisitions in the AI sector globally, including in AI deception detection services to increase underwriting and collections performance. IEC also plans to investigate the potential to conduct its own enhanced product/service development, territory customisation and new service initiatives in conjunction with its current Supplier and future potential suppliers/partners.

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.