ICON.L

Iconic Labs Plc
Iconic Labs PLC - Conversion of Securities
17th November 2023, 11:32
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RNS Number : 8617T
Iconic Labs PLC
17 November 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 Linton Capital LLP ("Linton").

The Conversion Notice was dated 16 November 2023 and provides for 2 Convertible Notes to be converted into 100,000 ordinary shares of £0.1 in the Company ("Ordinary Shares") at a conversion price of £0.1 at the aggregate principal amount of £10,000.

The Conversion Notice also included a Conversion Fee, payable under the financing arrangements with Linton, 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 Linton of an additional 119,731 Ordinary Shares.

Application is therefore being made for an aggregate of 219,731 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 24 November 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 8,371,600 Ordinary Shares. The figure of 8,371,600 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

 

 

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