REG - Iconic Labs PLC - Notice of AGM

Iconic LabsAnnouncement

04/08/2023 16:30

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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/
(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
£0.00001 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
£0.1 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 for receipt of forms of proxy for the Annual General          3.00 p.m. on 23 August
 Meeting

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

 

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