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An announcement from Iconic Labs plc ( (GB:ICON) ) is now available.
Iconic Labs PLC has published revised audited financial results for the year ended 30 June 2024, updating its annual report and accounts to reflect changes in trade creditors and share capital. The company has also terminated the proposed acquisition of In The Style Fashion Limited and is actively seeking alternative acquisition targets to ensure long-term growth and value for shareholders. The company’s financial stability is contingent on finding a suitable target, as its sole asset, Gay Star News, is not cash-generative, and it relies on a financing facility with specific conditions. Failure to meet these conditions could lead to significant financial risks, including potential administration.
More about Iconic Labs plc
Iconic Labs PLC is a media and technology company primarily focused on ventures and acquisitions in the online media, artificial intelligence, and big data sectors. Its main asset is Gay Star News, an online media platform dedicated to the LGBTQ+ community. The company has faced challenges in its strategic advisory services business due to unfavorable market conditions and is now seeking suitable acquisition targets to align with its long-term objectives.
Technical Sentiment Signal: Buy
Current Market Cap: £586K
See more data about ICON stock on TipRanks’ Stock Analysis page.