Conversion of Notes and Allotment of Shares
Source: RNS
7 February 2024
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 6 February 2024 and provides for 20 Convertible Notes to be converted into 200,000 ordinary shares of £0.1 in the Company ("Ordinary Shares") at a conversion price of £0.1 at the aggregate principal amount of £20,000.
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 654,700 Ordinary Shares.
Application is therefore being made for an aggregate of 854,700 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 12 February 2024. 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 11,161,483 Ordinary Shares. The figure of 11,161,483 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:
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.
