I would love to back #ICON @IconicLabsUK. The new team seems highly capable, genuine and ambitious. The roll-up strategy that they're employing could work marvellously.
Unfortunately, the shares are untouchable ATM. I need say no more than EHGOSF, 06/08/19 RNS.
Fatal. Period.
Unfortunately, the shares are untouchable ATM. I need say no more than EHGOSF, 06/08/19 RNS.
Fatal. Period.
The ridiculous thing is that #ICON @IconicLabsUK said they were using EHGOSF again as a last resort, because I) legacy liabilities were unknown at the time, and II) there was no remaining issuance headroom without a prospectus.
Well I) is now known, and II) is being worked upon.
Well I) is now known, and II) is being worked upon.
Simple solution for #ICON @IconicLabsUK:
- Amend prospectus to seeking permission for a conventional equity placing of £2.0m, and an issuance of ~£0.5m to mgmt. (they're essentially founders).
- Repay drawdowns to date from EHGOSF, and cancel agreement.
- Settle liabilities.
- Amend prospectus to seeking permission for a conventional equity placing of £2.0m, and an issuance of ~£0.5m to mgmt. (they're essentially founders).
- Repay drawdowns to date from EHGOSF, and cancel agreement.
- Settle liabilities.
#ICON @IconicLabsUK would have cash left over for working cap, and a clean capital structure.
I know that there are others who would back the venture, were these 3 to occur - even a big equity package, pro gratis, to mgmt.
People's thoughts please? And let's keep it civil!
I know that there are others who would back the venture, were these 3 to occur - even a big equity package, pro gratis, to mgmt.
People's thoughts please? And let's keep it civil!
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