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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 London, but has yet to file particulars of claim setting out the exact nature of its claim, and therefore the Company is unable to respond or comment in any detail on the claim until such time as EHGOF files the necessary documentation to evidence its alleged claim.
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 ....
Iconic Labs Plc (LSE:ICON), a multidivisional new media and technology business, today provides the following operational update covering activity during the second half of 2020. The second half of this year saw material positive progress in the business activity of the Company. In particular, monthly contracted revenues now exceed £135,000 per month (more than £1.5 million on an annualised basis, up from £0.1m for the entirety of 2020). In parallel, legacy revenues have now largely been dealt with and running costs for the Company are running at a level similar to or less than revenues received. The key transformative event was the acquisition by Greencastle Acquisition Limited ( Greencastle Capital ) of the JOE and HER media group and the subsequent entering into of a management service contract ( MSC ) with the Company. The management fee payable for the provision of all management services to Greencastle Capital under a single co ....
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