IIL SHAREHOLDER SHAKE-UP: What's Really Happening Intravenous Infusions PLC (GAX: IIL) has seen two major ownership shifts in 2026 — but they're not the same kind of "investment." 1️⃣ Mr Eazi / Zagadat Capital On May 18, 2026, Zagadat Capital Gh. Ltd (backed by Nigerian artist Mr Eazi) acquired 17.31% of IIL — 47,514,775 shares at GH¢0.08, costing GH¢3.8M. This was an **open-market purchase** via Laurus Africa Securities on the GAX floor. ⚠️ Key point: that cash went to the *sellers* (existing shareholders), not IIL. The company received zero fresh capital — it's simply a change in ownership. 📈 At today's ~GH¢0.42/share, the stake is worth ~GH¢19.96M — a paper gain of ~GH¢16.16M (≈425%) in about 3 months. Great for Zagadat; neutral for IIL's finances. 2️⃣ CCM Healthcare Investment FZCO Dubai-based CCM converted a **GH¢4.8M loan into equity**, approved at IIL's Feb 2026 EGM. ✅ This one directly helps IIL — the company no longer owes that debt. Real balance-sheet relief. ⚠️ Not yet confirmed: CCM's exact resulting % (~26.84% floated) or whether it now tops AI Acquisitions Co. Ltd as largest shareholder. Awaiting official GSE confirmation. 🔑 Takeaway A celebrity buying shares can boost visibility and price — but puts no cash into the company. Debt-to-equity swaps directly strengthen it. Same word ("investment"), very different impact. Stay tuned for updates. 📌