Iconic Labs PLC Directorate Change (1819Y)
30 December 2019 - 6:00PM
UK Regulatory
TIDMICON
RNS Number : 1819Y
Iconic Labs PLC
30 December 2019
30 December 2019
Iconic Labs Plc ("Iconic Labs" or the "Company")
Board Changes
Iconic Labs Plc (LSE:ICON), a multi-divisional new media and
technology business, announces that it has been informed by the
Chairman, David Sefton, that he wishes to resign from the board at
the conclusion of the AGM, which is to be held later today.
David explained to the Company that while he will continue to be
involved in and support the Company's operations, and in particular
business development, he felt that rumour and market speculation in
respect of one of his previous companies, Anglo African Oil &
Gas Plc ("AAOG"), was having an adverse effect on the Company such
that it was in the interest of the Company that he is not involved
as a director or in the financing plans for the Company at this
time.
David resigned as Chairman of AAOG earlier this year, at which
time it was planning to increase production and cashflow by
drilling a sidetrack before the end of 2019 and capital had been
raised for that purpose. David has had no involvement with AAOG
since then. David explained that he is therefore not privy to any
exact details of the issues that have arisen there since he left,
but has every confidence in the board of AAOG to resolve them as
best they can in the interests of the shareholders and in order to
realise value from the Tilapia asset.
The board is very grateful that David will continue to be
involved with the Company but understands his reluctance to
continue as a director at this time. As a result, John Quinlan will
assume the role of interim chairman. As previously announced, the
board recognises the benefit of experienced non-executive directors
with the right sector and corporate skills to best help the Company
as it accelerates its growth. In this regard, discussions are
underway and the Company will make announcements in due course.
Resolution 4 will therefore not be put forward for consideration
at the AGM to be held later today. The result of the other
resolutions will be announced at the completion of the meeting.
Market Abuse Regulation (MAR) Disclosure - Certain information
contained in this announcement would have been deemed inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 until the release of this announcement.
**ENDS**
For further information, please visit the Company's website
www.iconiclabs.co.uk or contact:
John Quinlan Iconic Labs Plc c/o SBP Tel: +44 (0) 20
7236 1177
Damon Heath Shard Capital Partners Tel: +44 (0) 20 7186 9950
LLP
Erik Woolgar Shard Capital Partners Tel: +44 (0) 20 7186 9950
LLP
Hugo de Salis St Brides Partners Tel: +44 (0) 20 7236 1177
Limited
David Penson St Brides Partners Tel: +44 (0) 20 7236 1177
Limited
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contact rns@lseg.com or visit www.rns.com.
END
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