Iconic Labs PLC
("Iconic" or the "Company")
Transaction Terminated
On 11 March 2024 the Company entered into a non-binding heads of terms with the owners of ITS Holdings 2023 Ltd (the "Target"), the holder of the entire issued share capital of In the Style Fashion Ltd, an online fashion retailer, in connection with the potential purchase of the entire issued share capital of the Target ("Transaction").
The Board wishes to announce that the Transaction, which would have constituted a reverse takeover under the UK Listing Rules, will not proceed to conclusion.
The Directors of Iconic are now assessing alternative transactions and will make an announcement in due course.
The Directors will now request that the Financial Conduct Authority the restoration of the Company's listing on the Official List and to trading on the Main Market of the London Stock Exchange.
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).
- ENDS -
For more information, please contact:
| Iconic Labs John Farquharson, Interim Chief Executive Officer | via Yellow Jersey PR |
| Novum Securities Limited David Coffman / Daniel Harris | Tel: +44 (0) 20 7399 9400
|
| Yellow Jersey PR Charles Goodwin Annabelle Wills Bessie Elliot | Tel: +44 (0) 20 3004 9512
iconic@yellowjerseypr.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.