REG - Iconic Labs PLC - Board Changes & Business and Strategy Update

Iconic LabsAnnouncement

04/01/2024 07:00

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RNS Number : 5879Y  Iconic Labs PLC  04 January 2024

4 January 2024

 

Iconic Labs PLC

 

("Iconic" or the "Company")

 

Board Changes

 

Business and Strategy Update

 

Iconic Labs PLC (LSE: ICON), is pleased to announce the appointment of Victor
Humberdot and Bela Lendvai-Lintner as Non-executive Directors to the Board of
Iconic, as well as an update on the business and strategy of the Company.

 

Board Changes

 

Victor Humberdot and Bela Lendvai-Lintner have been appointed as Non-executive
Directors with immediate effect and will replace Marija Hrebac, David Stybr
and Emmanuel Blouin who have stepped down from the Board.

 

Victor Humberdot (aged 34) is an experienced investment banker. Having started
his career at BBVA and Kepler Cheuvreux, he then joined the investment fund of
Société Générale, Private Banking in Luxembourg before, most recently,
being responsible for the external growth of an investment holding company in
the construction sector before being M&A Manager at Exponens Corporate
Finance and more recently a Vice President at the corporate finance boutique,
DDA & Company in Paris. He is currently Founder and CEO of HUVI Capital,
his own investment holding company. Victor holds a master's degree in
international finance from Neoma Business School and a master's in physics and
mechanical engineering from Le Havre Normandy University.

 

Bela Lendvai-Lintner (aged 48) has more than 20 years of experience in private
equity within a wide range of industry sectors. He started his career at KPMG
in corporate finance focused on M&A transactions. Bela has also held
multiple roles at ARX Equity Partners, an independent Central Europe-focused
mid-market buyout firm and is currently a Partner and Investment Committee
Member. He holds a Bachelor of Science in Business Administration/Finance from
Ohio State University.

 

Business and Strategy Update

 

In conjunction with these Board changes, Iconic is also focusing on its
strategy. Earlier in 2023, Iconic intended to establish a strategic advisory
services business, engaging in fee-based service contracts with technology
companies. The objective was to provide valuable guidance on growth plans,
product development, marketing and capital raising.

 

However, following the successful Company restructuring, and its exit from
administration, Iconic is now channelling all its efforts towards identifying
a suitable acquisition target, most likely in the form of a reverse takeover
("RTO") target. Whilst the Company continues to narrow down the pool of viable
acquisition candidates, in parallel, Iconic will continue to develop, with its
strategic partners, its sole asset, Gay Star News, an online media platform
dedicated to the LGBTQ+ community.

 

Iconic is confident that this strategic shift will pave the way for long-term
growth and create substantial value for its shareholders.

 

Brad Taylor, Chief Executive Officer of Iconic Labs PLC, commented:

 

"I would like to extend my gratitude to Marija, Emmanuel and David for their
unwavering support and guidance in navigating us through the complex
restructuring of the Company with an exceptionally high level of
professionalism and skill.

 

"As the Company pivots to focus all efforts on acquiring a suitable company
through an RTO, I welcome Victor and Bela to the Board and look forward to
working closely with them, who between them bring a blend of finance and
industry experience to the Board which will prove invaluable in achieving our
strategic objective of fostering long-term growth and value for all our
shareholders."

 

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.

 

Additional Information

 

Bela Lendvai-Lintner is currently or has been Director or Partner of the
following companies and/or firms in the last five years:

 

Current Directorships

 

Accounting Partners Hungary Kft

XMobile International Kft

Pannon Provider Zrt

Beer=Win Holding Kft

Orenthal Kft

 

Previous Directorships

 

Gomba Invest Kft

 

Victor Humberdot is currently or has been Director or Partner of the following
companies or firms in the last five years:

 

Current Directorships

 

HUVI Capital

IPAHUMA

 

Previous Directorships

 

Quickcool AB

 

For any further information or enquiries please contact:

 

 Iconic Labs                            Tel: +44 (0) 7462 156238

 Brad Taylor, Chief Executive Officer   ir@iconiclabs.co.uk
 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

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