TIDMICON

RNS Number : 9835S

Iconic Labs PLC

19 November 2021

For immediate release

The following amendment has been made to the Adjournment to the GM announcement released on 18 November 2021 at 16:00 under RNS number 8773S.

The date of the further adjourned General Meeting has been amended to 23 November 2021.

All other details remain unchanged.

ICONIC LABC PLC - IN ADMINISTRATION

The Joint Administrators provide the following update on the administration and the adjournment of General Meeting:

General Meeting

The General Meeting ("GM") which had been convened for 2.00pm on Tuesday 15 June 2021 and which was adjourned until Tuesday 17 November 2021 has been further adjourned to 2.00 p.m. on Tuesday, 23 November 2021 to be held at the same place as the GM was convened, namely the offices of KWM Europe LLP, being the 9th Floor, 24 Monument Street, London EC3R 8AJ or such other place as is notified to shareholders.

Proxies that have been submitted for the GM will remain valid for the adjourned GM and you do not need to submit a new proxy unless you wish to change how your proxy should vote. However, you may continue to submit a proxy form for the GM up to 2.00pm on Friday 19 November2021. Proxy forms must be submitted in accordance with the instructions set out in the notice of meeting dated 20 May 2021.

Progress of the Administration

CVA Proposals

In accordance with their Report & Proposals, the Joint Administrators have prepared Draft CVA Proposals which were circulated to the Board, Arch Capital Partners LLP ("Arch"), Greencastle Media and EHGOSF on 30 September 2021.

The Joint Administrators understand that negotiations are ongoing between the Board, EHGOSF and Arch the Secured Creditor. For a viable CVA proposal to be put to creditors and members, new funding will be required, or some other arrangement made available, to enable the Company to make settlement proposals to creditors. A CVA cannot bind Secured Creditors to the extent that they are secured. Therefore, a CVA will only be viable if the disputes (or a means for resolving them) between the Company, EHGOSF and Arch can be agreed.

It is hoped that the negotiations will be finalised shortly to enable the CVA Proposals to be finalised and circulated to creditors and shareholders, who will be entitled to vote at meetings called for that purpose.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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.

END

NOGUKORRAWUAAAA

(END) Dow Jones Newswires

November 19, 2021 06:25 ET (11:25 GMT)

Grafico Azioni Widecells (LSE:WDC)
Storico
Da Feb 2024 a Mar 2024 Clicca qui per i Grafici di Widecells
Grafico Azioni Widecells (LSE:WDC)
Storico
Da Mar 2023 a Mar 2024 Clicca qui per i Grafici di Widecells