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Iconic Labs PLC announced the termination of a transaction to potentially purchase the entire issued share capital of ITS Holdings 2023 Ltd, with which it entered non-binding heads of terms on 11 March 2024. This transaction would have constituted a reverse takeover under UK Listing Rules. The Directors of Iconic Labs PLC will now request the Financial Conduct Authority to restore the Company's listing on the Official List and to trading on the Main Market of the London Stock Exchange.
| Date | 13 Feb 2025 |
| Time | 17:55:37 |
| Category | Miscellaneous |
| ID | 0860X |
Iconic Labs PLC
("Iconic" or the "Company")
Transaction Terminated
On 11 March 2024 the Company entered into a non-binding heads of terms with the owners of ITS Holdings 2023 Ltd (the "Target"), the holder of the entire issued share capital of In the Style Fashion Ltd, an online fashion retailer, in connection with the potential purchase of the entire issued share capital of the Target ("Transaction").
The Board wishes to announce that the Transaction, which would have constituted a reverse takeover under the UK Listing Rules, will not proceed to conclusion.
The Directors of Iconic are now assessing alternative transactions and will make an announcement in due course.
The Directors will now request that the Financial Conduct Authority the restoration of the Company's listing on the Official List and to trading on the Main Market of the London Stock Exchange.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
- ENDS -
For more information, please contact:
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Iconic Labs John Farquharson, Interim Chief Executive Officer |
via Yellow Jersey PR |
|
Novum Securities Limited David Coffman / Daniel Harris |
Tel: +44 (0) 20 7399 9400
|
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Yellow Jersey PR Charles Goodwin Annabelle Wills Bessie Elliot |
Tel: +44 (0) 20 3004 9512
|