Iconic Labs PLC Administration & proposed CVA update (2257O)
08 Giugno 2022 - 07:05PM
UK Regulatory (RNS & others)
TIDMICON
RNS Number : 2257O
Iconic Labs PLC
08 June 2022
For immediate release
ICONIC LABC PLC - IN ADMINISTRATION
The Joint Administrators provide the following update on the
administration and the adjournment of General Meeting:
Administration extension
Following consent from the Secured Creditor, the Administration
has been extended for a further 6 months to 3 December 2022.
Disputes
The Joint Administrators confirm that negotiations between the
Company, Arch Capital Partners LLP and the European High Growth
Opportunities Securitization Fund are progressing.
Proposed Company Voluntary Arrangement
The terms of the proposed Company Voluntary Arrangement have now
been agreed, subject to the outcome of the negotiations, referred
to above.
As soon as the negotiations are successfully concluded the CVA
will be issued, with a view to returning control of the Company
back to its Board, if agreed by creditors and shareholders.
It is hoped that a further update will be issued shortly
Antony Batty
Joint Administrator
8 June 2022
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END
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