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LONDON - Iconic Labs PLC (LSE:ICON) has announced the conversion of convertible notes into shares, a process which will expand its issued ordinary share capital. On Monday, the company received a Conversion Notice to convert 4 Convertible Notes into 235,294 ordinary shares at a price of GBP 0.017 each, totaling an aggregate principal amount of GBP 4,000.
The new ordinary shares are expected to be admitted to trading on the Main Market of the London Stock Exchange (LON:LSEG) around June 11, 2025. These shares will be on equal footing (pari passu) with the existing ordinary shares.
Following this conversion, Iconic Labs’ total issued share capital will consist of 13,615,210 Ordinary Shares. This figure also represents the total voting rights in the company, which shareholders can use as the denominator to determine if they need to notify their interest or a change in interest in the company as per the Financial Conduct Authority’s Disclosure Guidance & Transparency Rules.
The information disclosed is considered inside information under Article 7 of the Market Abuse Regulation (EU) 596/2014 as it is part of UK law under the European Union (Withdrawal) Act 2018. The announcement is made in compliance with the company’s obligations under Article 17 of the Market Abuse Regulation.
This conversion and allotment of shares is a routine financial transaction for Iconic Labs PLC and is based on a press release statement from the company.
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