REG - Iconic Labs PLC - Conversion of Securities

Iconic LabsAnnouncement

04/12/2023 08:00

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RNS Number : 5379V  Iconic Labs PLC  04 December 2023

Iconic Labs PLC

 

("Iconic" or the "Company")

 

Conversion of Notes and Allotment of Shares

Iconic Labs PLC (LSE:ICON), announces that it has received a valid Conversion
Notice from the European High Growth Opportunities Securitization Fund
("EHGO").

The Conversion Notice was dated 1 December 2023 and provides for 70
Convertible Notes to be converted into 700,000 ordinary shares of £0.1 in
the Company ("Ordinary Shares") at a conversion price of £0.1 at the
aggregate principal amount of £70,000.

The Conversion Notice also included a Conversion Fee, payable under the
financing arrangements with EHGO, in the event that the price at 90% of the
Lowest Closing Volume-Weighted Average Price during the applicable pricing
period falls below the nominal value of the Ordinary Shares. The Conversion
Fee has been satisfied by the issue to EHGO of an additional 795,720 Ordinary
Shares.

Application is therefore being made for an aggregate of 1,495,720 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 8 December 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 9,867,320 Ordinary Shares. The figure of 9,867,320
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
Disclosure Guidance & Transparency Rules.

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:

 

ir@iconiclabs.co.uk (mailto:ir@iconiclabs.co.uk)

 

 

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