Iconic Labs PLC Issue of Equity in respect of Warrants and Notes (5481B)
October 08 2020 - 9:00AM
UK Regulatory
TIDMICON
RNS Number : 5481B
Iconic Labs PLC
08 October 2020
Iconic Labs Plc ("Iconic Labs" or the "Company")
Issue of Equity in respect of Warrants and Notes
Iconic Labs Plc (LSE:ICON) (the "Company"), a multi-divisional
new media and technology business, announces that, following the
issuance of the Prospectus on 26 March 2020, and pursuant to the
Deed of Issuance and Subscription dated 5 August 2019 in respect of
which non-convertible notes (the "Notes") together with share
subscription warrants (the "Warrants"), which were automatically
attached to the Notes, were issued by the Company to European High
Growth Opportunities Securitization Fund (the "Investor"), and for
which the Company has received a notice of exercise of the
principal amount of GBP210,000 of Warrants from the Investor
resulting in the issue to the Investor of 2,100,000,000 new
ordinary shares in the Company ("Warrant Shares"). Shareholders
should note that due to the concurrent redemption of the equivalent
amount of Notes having an effect similar to set-off, no net cash
proceeds have been received by the Company as a result of the
exercise of the Warrants, but the aggregate amount due to the
Investor has been reduced.
Furthermore, the Company also announces that, pursuant to the
Financing and Settlement Agreement entered into by the Company and
the Investor (see RNS dated 7(th) February 2020), pursuant to which
the Company issued bonds ("Convertible Bonds") convertible into
ordinary shares of GBP0.00001 each in the Company ("Ordinary
Shares") to the Investor, the Company has received a notice of
exercise from the Investor in respect of the exercise by the
Investor of its conversion rights under the Convertible Bonds
issued in respect of the seventh and eighth tranches drawn down
under the Financing and Settlement Agreement for the aggregate
principal amount of GBP140,000 resulting in the issue to the
Investor of 1'999'999'999 new Ordinary Shares ("Conversion
Shares").
It should be noted that this is a conversion of Convertible
Bonds already issued pursuant to previous draw downs made by the
Company under the Financing and Settlement Agreement and is not a
request from the Company to draw down anything further under that
facility.
The Company has agreed, subject only to Admission (as defined
below), to issue the Warrant Shares and the Conversion Shares and
application will be made for the Warrant Shares and the Conversion
Shares to be listed on the standard segment of the Official List
and to trading on the Main Market for listed securities of the
London Stock Exchange plc ("Admission").
It is expected that Admission will become effective and dealings
in the Warrant Shares and the Conversion Shares will commence on or
around 16th October 2020. The Warrant Shares and Conversion Shares
will rank pari passu in all respects with the existing Ordinary
Shares in the Company.
Following Admission of the Warrant Shares and the Conversion
Shares, the Company's enlarged issued share capital will comprise
31,173,637,836 Ordinary Shares with voting rights. The Company does
not hold any shares in treasury. The figure of 31,173,637,836
Ordinary Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Disclosure
Guidance and Transparency Rules of the Financial Conduct
Authority.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
**ENDS**
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
**ENDS**
For further information, please visit the Company's website
www.iconiclabs.co.uk or contact:
Damon Heath Shard Capital Partners Tel: +44 (0) 20 7186 9950
LLP
Iconic Labs ir@iconiclabs.co.uk
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