Icon Energy Limited (AU:ICN) has released an update.
Icon Energy Limited has seen a significant increase in its voting power, with substantial holder Paradise Marine Pty Ltd ATF The James Superfund boosting its stake from 6.57% to 17.33% following a debt conversion deal. This strategic move involved the conversion of $600,000 in debt into 100 million ordinary shares, marking a notable shift in the company’s shareholder dynamics. Investors in Icon Energy may find this development intriguing as it potentially impacts future company decisions.
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