RNS Number : 6917I
Iconic Labs PLC
08 August 2023
 

 

8 August 2023

 

Iconic Labs PLC

 

("Iconic" or the "Company")

 

Publication of Prospectus and Issue of Equity

 

Iconic Labs PLC (LSE: ICON) today announces the publication of its Prospectus (the "Prospectus") to shareholders. The Prospectus gives Iconic the ability to issue Ordinary Shares as it finalises its overall restructuring obligations. These shares will be available to meet obligations towards:

 

·    the European High Growth Opportunities Securitization Fund ("EHGOSF") and Linton Capital LLP under the 23 August 2022 Settlement Deed;

·    the unsecured creditors under the 22 September 2022 Company Voluntary Agreement;

·    EHGOSF under the 28 September 2022 £3 million financing facility; and

·    management for outstanding fees. 

 

The Prospectus has been approved by the Financial Conduct Authority and is available to view on the Company's website: https://www.iconiclabs.co.uk/documents/ and at the National Storage Mechanism: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

Brad Taylor, Chief Executive Officer of Iconic Labs, commented:

 

"We are pleased to announce the publication of the Company's Prospectus as we near the completion of this complex two-year restructuring process. Critically, the Prospectus also enables us to access the next tranches of financing with EHGOSF so that Iconic can finally shift its focus from the mechanics of restructuring to generating shareholder value.  

 

"With a highly experienced team based in the US, UK and Europe, we are well-positioned to explore strategic acquisition options, which may include the possibility of an RTO, and the development of our current media business including owned brands such as GSN.

 

"The Board looks forward to updating the market in due course."

 

- Ends -

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

For more information, please contact:

Iconic Labs

 

Brad Taylor, Chief Executive Officer

Tel: +44 (0) 7462 156238

Novum Securities Limited

David Coffman / Daniel Harris

Tel: +44 (0) 20 7399 9400

 

Yellow Jersey PR

Sarah Hollins

Annabelle Wills

Bessie Elliot

 

Tel: +44 (0) 20 3004 9512

iconic@yellowjerseypr.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PDINKFBPNBKDPFK