Inqo Investments Limited

Press release at 28 July 2026

Director/PDMR Shareholding

CHAIRMAN LOAN CONVERSION

INQO INVESTMENTS LTD (the "Company"), the South African-based impact investment company, announces that, following receipt of approval from the South African Reserve Bank ('SARB'), its Executive Chairman, Dr Kim Sze Tan, has elected to convert long-standing interest-free shareholder funding into equity, reinforcing his commitment to the Company and further aligning his interests with those of shareholders.

Background

The loans in question comprise:

·   a US dollar-denominated interest-free convertible loan of US$50,000, advanced in 2013 by Eastgate Investments Ltd, a company controlled by Dr Kim Sze Tan; and

·    a South African Rand-denominated interest-free shareholder loan of R276,000 advanced by Dr Kim Sze Tan;

the "Related Party Loans".

The Related Party Loans were advanced to provide working capital and ongoing financial support to the Company. Both Related Party Loans were unsecured and interest-free. Further details of the Related Party Loans are set out in the Audited Group Results for FY 2026.

Issue of Conversion Shares

The transaction comprises:

·      the conversion of the outstanding US$50,000 convertible loan advanced by Eastgate Investments Ltd; and

·      the conversion of R276,000 of the shareholder loan advanced by Dr Kim Sze Tan.

The Company has converted US$50,000 owing to Eastgate Investments Ltd and R276,000 owing to Dr Kim Sze Tan into Ordinary Shares at an issue price of 55 pence per Ordinary Share, representing a 10 percent discount to the prevailing market price in accordance with the terms of the respective loan agreements.

Accordingly, the Company has issued:

The 91,435 new Ordinary Shares issued pursuant to the Related Party Loans referred to as the "Conversion Shares" will represent approximately 0.56% of the total Inqo's issued share capital.

The Conversion Shares have been allotted and issued, credited as fully paid, to Springhill Management Limited, a company wholly owned by Dr Kim Sze Tan, as nominee holder.

The Conversion Shares will rank pari passu in all respects with the Company's existing Ordinary Shares. Upon issue of the Conversion Shares of Dr Kim Sze Tan's shareholder loan, the relevant indebtedness has been extinguished.

Executive Commentary

Dr Kim Sze Tan, Executive Chairman of Inqo, commented:

"I have supported Inqo over many years and remain confident in the Company's long-term strategy and prospects. Converting these shareholder loans into equity strengthens the Company's balance sheet while increasing my investment in the business. This transaction demonstrates my continued commitment to creating long-term value for all shareholders."

Related Party Transaction

Dr Kim Sze Tan is Executive Chairman and a substantial shareholder of the Company. Eastgate Investments Ltd is a company controlled by Dr Kim Sze Tan.

Accordingly, the conversion and related issue of the Conversion Shares constitute a related party transaction under Rule 4.6 of the AQSE Growth Market Access Rulebook.

Dr Kim Sze Tan did not participate in the Board's consideration or approval of the transaction.

The Directors independent of the transaction, having exercised reasonable care, skill and diligence, consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.

Admission

Application has been made for the 91,435 Conversion Shares to be admitted to trading on the AQSE Growth Market ("Admission").

Admission is expected to become effective at 8.00 a.m. on 31 July 2026.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 16,463,066 Ordinary Shares, each carrying one voting right. The Company does not hold any Ordinary Shares in treasury.

Accordingly, the total number of voting rights in the Company following Admission will be 16,463,066.

This figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

Enquiries:

Inqo Investments Limited

Robyn Steyn, Chief Financial Officer                                           [email protected]

Bowsprit Partners Limited (Corporate Adviser)                  

John Treacy / Luis Brime                                                           +44 (0) 203 833 4430              

PDMR Notification - KS Tan