Iconic Labs PLC - Alleged Claim made by EHGOF
Iconic Labs Plc ("Iconic Labs" or the "Company")
Alleged Claim made by European High Growth Opportunities Securitization Fund
Iconic Labs Plc (LSE:ICON), a multidivisional new media and technology business, today announces that it has been served with a claim form from European High Growth Opportunities Securitization Fund ("EHGOF"). EHGOF has filed the claim in the High Court in
Notwithstanding the above, the Company assumes that the claim may be being made in respect of amounts that are allegedly due to EHGOF under specific loan notes, although the claim form makes no reference to these loan notes, instead referring to agreements with EHGOF that were, against the wishes of EHGOF, unilaterally and validly terminated by the Company last year. The Company reserves its position at this time on the merits of the alleged claim pending receipt of fully particularised Particulars of Claim and a full investigation of the claim.
The Company has also kept Greencastle Capital ("Greencastle") appraised of this development, and Greencastle has informed the Company that while Greencastle is monitoring the situation carefully, it does not consider that there are yet grounds upon which it might seek to terminate either of the management services agreements that exist between Greencastle Capital and the Company, and which are in respect of the JOE Media and TheLondonEconomic businesses.
The Company notes that discussions had taken place during the course of the last year with
The Company will update the market in due course.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information, please visit the Company's website www.iconiclabs.co.uk or contact:
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Shard Capital Partners LLP
Tel: +44 (0) 20 7186 9950
Iconic Labs email@example.com
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
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Market Cap: £2.21 m
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