RNS Number : 7238V

Iconic Labs PLC

16 April 2021

16 April 2021

Iconic Labs Plc ("Iconic Labs" or the "Company")

European High Growth Opportunities Securitization Fund ("EHGOF") withdraws its claims

Iconic Labs Plc (LSE:ICON), a multidivisional new media and technology business announces that following the settlement agreement with EHGOF and various conditions having been fulfilled (including the termination of the employment and/or offices held (as applicable) of Sarah Dees and Stephen Birrell, the termination of the consultancy agreement with James Parsons, and the appointment of Brad Taylor as chief executive officer of the Company) an order has been applied for staying the proceedings against the Company.

The Company is also pleased to confirm that EHGOF has indicated its willingness to enter into discussions regarding a finance facility of up to GBP50 million to support the Company's growth plans.

Brad Taylor, CEO, Iconic Labs said, "We are excited about our ambitious acquisition and growth plans and look forward to discussing these plans further with EHGOF."

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.


For further information, please visit the Company's website www.iconiclabs.co.uk or contact:

Iconic Labs ir@iconiclabs.co.uk

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(END) Dow Jones Newswires

April 16, 2021 04:03 ET (08:03 GMT)