TIDMICON

RNS Number : 4036I

Iconic Labs PLC

04 August 2023

V2 YJ [04.08.23]

04 August 2023

Iconic Labs PLC

("Iconic" or the "Company")

Notice of AGM and Proposed Share Consolidation

Iconic Labs PLC (LSE: ICON) announces that its Annual General Meeting ('AGM') will be held on Friday, 25 August 2023 at 3.00 p.m. at the offices of RWK Goodman, 69 Carter Lane, London, EC4V 5EQ.

The Notice of AGM has been posted to Shareholders and will be available to view shortly on the Company's website at: https://www.iconiclabs.co.uk/documents/ .

Introduction

The Board proposes to consolidate the Company's share capital with the aim of improving the marketability of the ordinary shares.

The purpose of this document is to provide you with details of the Share Consolidation to be proposed to Shareholders at the forthcoming Annual General Meeting.

Background to and reasons for the Share Consolidation

As at the date of this document, the Company has 46,306,916,660 Existing Ordinary Shares in issue. The primary objective of the consolidation is to reduce the number of ordinary shares, with the intention of creating a higher share price per ordinary share in the capital of the Company, which the Board believes will make the Company and the ordinary shares more attractive to a broader range of investors.

It is therefore proposed that the 46,306,916,660 Existing Ordinary Shares of GBP0.00001 each are consolidated on a 10,000 for 1 basis, such that every 10,000 Existing Ordinary Shares are consolidated into 1 ordinary share of GBP0.1 in nominal value. It is intended that additional New Ordinary Shares will be allotted, following the AGM so that the total number of Existing Ordinary Shares is exactly divisible by 10,000 for the share consolidation. Assuming a share capital of 46,306,916,660 Existing Ordinary Shares immediately prior to the Record Date, following completion of the Share Consolidation, the Company will have 4,630,692 New Ordinary Shares in issue.

Application will be made in accordance with the Main Market Rules for the New Ordinary Shares arising from the Share Consolidation to be admitted to trading on the Main Market, subject to Shareholders passing Resolution 9 at the Annual General Meeting. It is expected that if such Resolution is passed, Admission in respect of such New Ordinary Shares will become effective and that dealings in those New Ordinary Shares will commence on 28 August 2023.

No Shareholder will be entitled to a fraction of a New Ordinary Share. Instead, their entitlement will be rounded down to the nearest whole number of New Ordinary Shares. Remaining fractional entitlements to New Ordinary Shares will be aggregated and sold on behalf, and for the benefit of, the Company. If a Shareholder holds fewer than 10,000 Existing Ordinary Shares at the Record Date, then the rounding down process will result in that Shareholder being entitled to zero New Ordinary Shares and as a result of the Share Consolidation they will cease to hold any Ordinary Shares.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

 
                                                                  2023 
 Posting of the AGM Notice                                    2 August 
 Latest time and date                           3.00 p.m. on 23 August 
  for receipt of forms 
  of proxy for the Annual 
  General Meeting 
 Annual General Meeting                         3.00 p.m. on 25 August 
 Announcement of the                                         25 August 
  result of the Annual 
  General Meeting 
 Record Date in respect                         6.00 p.m. on 25 August 
  of the Share Consolidation 
  and final date for trading 
  in Existing Ordinary 
  Shares 
 Admission expected to                          8.00 a.m. on 29 August 
  become effective and 
  dealings expected to 
  commence in the New 
  Ordinary Shares on the 
  Main Market 
 CREST accounts expected                                     29 August 
  to be credited in respect 
  of New Ordinary Shares 
  in uncertificated form 
 Expected date by which            By the week commencing 11 September 
  certificates in respect 
  of New Ordinary Shares 
  are to be despatched 
  to certificated Shareholders

- Ends -

For more information, please contact:

 
 Iconic Labs                     Tel: +44 (0) 7462 156238 
 
  Brad Taylor, Chief Executive 
  Officer 
 Novum Securities Limited        Tel: +44 (0) 20 7399 9400 
  David Coffman / Daniel 
  Harris 
 Yellow Jersey PR                Tel: +44 (0) 20 3004 9512 
  Sarah Hollins                   iconic@yellowjerseypr.com 
  Annabelle Wills 
  Bessie Elliot

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

NOAUPURARUPWGWC

(END) Dow Jones Newswires

August 04, 2023 11:19 ET (15:19 GMT)

Iconic Labs (LSE:ICON)
Gráfica de Acción Histórica
De Abr 2024 a May 2024 Haga Click aquí para más Gráficas Iconic Labs.
Iconic Labs (LSE:ICON)
Gráfica de Acción Histórica
De May 2023 a May 2024 Haga Click aquí para más Gráficas Iconic Labs.