Conversion of Securities & Resignation of Director

RNS Number : 2295O

Iconic Labs PLC

30 January 2023

 

Iconic Labs PLC

("Iconic" or the "Company")

Conversion of Notes and Board Change

Iconic Labs PLC (LSE:ICON), a multi-divisional new media and technology business, announces that it has received two valid Conversion Notices from the European High Growth Opportunities Securitization Fund ("EHGOSF") and a change to the Company's Board of Directors ("Board").

Conversion of Loan Notes

The first Conversion Notice was dated 26 January 2023 and provides for 100 Convertible Notes to be converted into 869,565,217 shares in the Company at a conversion price of £0.000115 at the aggregate principal amount of £100,000.

The second Conversion Notice was dated 27 January 2023 and provides for 150 Notes to be converted into 1,388,888,888 shares in the Company at a conversion price of £ 0.000108 at the aggregate principal amount of £150,000.  

Application is being made for the 2,258,454,105 new ordinary shares to be admitted to trading on the Main Market of the London Stock Exchange which is expected to be on or around 2 February 2023. These shares rank pari passu with the existing ordinary shares of the Company.

Following the issue of these shares, the Company's issued ordinary share capital shall consist of 39,663,702,144 ordinary shares. The figure of 39,663,702,144 represents the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's ("FCA") Disclosure Guidance & Transparency Rules.

Board Change

On 27 January 2023, the Company was informed by Wilhelmus van der Meer that he was stepping down from the Board with immediate effect. The Company is in active discussions with candidates to replace Mr. Van der Meer and an announcement is expected to be made shortly.

  Iconic's CEO, Brad Taylor, stated:

" Iconic appreciates Mr. van der Meer's services during the restructuring of the Company and wishes him well in his future business endeavours."

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 any further information or enquiries please contact:

[e-mail]

 

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