Business
Issue of Equity in respect of Warrants
Issue of Equity in respect of Warrants.
About this update from Iconic Labs Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2677B\n Iconic Labs PLC\n 06 October 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Iconic Labs Plc (\"Iconic Labs\" or the \"Company\")\n \n \n Issue of Equity in respect of Warrants \n \n \n \n \n \n Iconic Labs Plc (LSE:ICON) (the \"Company\"), a multi-divisional new media and technology business, announces that, following the issuance of the Prospectus on 26 March 2020, and pursuant to the Deed of Issuance and Subscription dated 5 August 2019 in respect of which non-convertible notes (the \"Notes\") together with share subscription warrants (the \"Warrants\"), which were automatically attached to the Notes, were issued by the Company to European High Growth Opportunities Securitization Fund (the \"Investor\"), and for which the Company has received a notice of exercise of the principal amount of £410,000 of Warrants from the Investor resulting in the issue to the Investor of 4,555,555,555 new ordinary shares in the Company (\"Warrant Shares\"). Shareholders should note that due to the concurrent redemption of the equivalent amount of Notes having an effect similar to set-off, no net cash proceeds have been received by the Company as a result of the exercise of the Warrants, but the aggregate amount due to the Investor has been reduced.\n \n The Company has agreed, subject only to Admission (as defined below), to issue the Warrant Shares and application will be made for the Warrant Shares to be listed on the standard segment of the Official List and to trading on the Main Market for listed securities of the London Stock Exchange plc (\"Admission\").\n \n \n It is expected that Admission will become effective and dealings in the Warrant Shares will commence on or around 14th October 2020. The Warrant Shares will rank pari passu in all respects with the existing Ordinary Shares in the Company. \n \n \n Following Admission of the Warrant Shares, the Company's enlarged issued share capital will comprise \n 27,073,637,837 \n Ordinary Shares with voting rights. The Company does not hold any shares in treasury. The figure of\n \n 27,073,637,837 \n Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which...