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As I said we all had to be patient this will play out very well which I believe
So Just had a quick read. So expected profits of 1million by the end of this month. Nice
So Ben Armstrong taking his place - he has been Brand consultant - So expecting them to be out new leaders. Brad might stay on on a non exe capacity I would have thought, Who knows
Yes and Bob RTO - its a quicker vehicle to market using a Shell such as ICON, than going IPO route. My thoughts though is what Market will we be on AIM or MAIN. Again not sure but I'm sure it has to be 30 million now could be wrong on that. So I expect to be AIM. But either way this looks pretty decent - but they do need to sort Linton etc. out which Brad I am sure is on with that will probably take more negotiations.
Bob imo it is more likely Adam was pushed, its clear Jas doesn't need his skills having turned the business around. It was also part of the deal with ITS sale that he would take a role.
Maid Brad has done well to get this deal in line. RTO's can be done in less than 30 days if all goes to plan, you just never know! Likely to be longer imo.
The RTO Is a route to market for large companies, one quicker and cheaper than an IPO. The value of ICON is irrelevant that the purpose behind an RTO. The shell is what is of value to Jas nothing else, if Brads lucky he may keep a job for a while…
ICON Market Cap. £599.93k less than i thought... hmmmmmmmmm 45m in revenue as we speak Hmmmmm
well done again BRAD lets get this rapped up ASAP, I know you like to hang around for months and end but this is not the time
"Trying to put a real value to the business we are RTO with revenues of 44 millions We will see what the deal is if it goes through soon enough."
Does that even make sense? A company supposedly with revenues of Lot of Millions is going to do some sort of RTO thing with a distressed company worth about £500K and everyone gets free money?
As per Gordon...
https://www.retailgazette.co.uk/blog/2023/12/in-the-style-founder-exits/
The company founder wants an out and we have to believe that ICON is the only solution. Do any of the mumblement involved with ICON including members of the dingleberry club holding floating charges over the company have a clue about retail clothing or do they just have LinkedIn CV's
Revealed that In The Style’s revenue fell from £57.3m to £45.9m in the 12 months to March 31, 2023. Its wholesale revenue was cut from £12.6m to £6m while e-commerce fell from £44.6m to £39.9m.
this is still a huge revenue stream if they can get the CO back on it's feet to glory days through Social Media it could certainly turn into a huge deal to save this iconic brand for all concern...
if we think about it they have acquired a CO generating currently £45m in yearly revenue as that was 2023 figures, and ICON mc is under a mill? WHAT SHOULD BE OUR SP WHEN WE COME BACK TO MARKET ???
answer on a postcard please....
I also have this one in my notes which has a little more depth.
https://www.drapersonline.com/news/in-the-style-swings-back-to-black-under-new-owner
quite the turn around story and imo exciting news!
Will take a look cheers for that.
Totally agree Jarem, Here is the article which mentioned a return to profitability which is obviously of importance if the deal is to go through which imo looks likely if they have signed so quickly.
https://www.retailgazette.co.uk/blog/2023/12/in-the-style-founder-exits/
Just done a Google search - Yes he stepped down from the board - sure its still on companies house however. I think he is now still involved as a brand consultant. Don't know too much about him if I'm honest but obviously he is talented from a fashion perspective but not a board level. I think that is why they will probably need someone with Brad expereince initially going forward as its a complex world. If they have started to be profitable which you would hope will be disclosed when doing DD and with revs of 44 million plus then this could be a great RTO for us Iconic shareholders - I would expect shares in issue to go up a fair few million would be great to get back to 30p initially which what is was after consolidation - but atleast we have a viable business with revenues. -if signed sealed.
Jarem, One thing I find interesting that I hadn't realised is Adam Frisby left the company in Dec with the company claiming to have turned a corner and being back in profitability. That opens the doors for investors imo, some may have had concerns with Adam and how he managed the situation previously the prior PLC.
Only just seen this, this morning so not had a real look at it yet. But I would probably say Brad will be kept on as he will be the Tech side of things I would have thought with Lisa being the main driver going forward. The other 2 Iconic will leave as I think they were brought on to deal with the aspects of funding etc.. for the RTO. As others have said let clear the slate
I know the business was bought for 1.2 mill last year more for convenience to stop going into afmin. TRying to put a real value to the business we are RTO with revenues of 44 millions We will see what the deal is if it goes through soon enough But one thing the MCAP should be a bit greater than it was before suspension with what seems like a good player in the market. .
Could the link be SHard ,Linton, with EHGOS being the driver , who are instigating the RTO to recoup some losses.
I reckon there will be an overhaul of the BOD. In the Style is significant player in the online fashion business, it needs experienced people to take it forward. What does Brad and co bring to the table other than bringing the RTO to fruition? Im not sure it will be very much tbh. Iconics Past will be irrelevant once the deal happens, there will be a name change and new business.
"We are delighted to have entered into a heads of terms to acquire ITS Holdings 2023 Ltd. This transaction has been *one of multiple opportunities carefully considered* by the Board of Iconic and we believe this proposed acquisition meets our objectives and wider strategy of fostering long-term growth and value for our shareholders."
One of multiple and they picked it so you would have to guess it is the best.Presumably non of the others were Unicorn AI, BlockChain, Web3.0 BuzzWord plays.
Have these people checked out the charges over the company?
https://find-and-update.company-information.service.gov.uk/company/10197256/charges
Like I know nothing but as I read it someone else owns the past and future everything. If I owned a company with any prospects and was looking for investment I don't think I would go anywhere near this lot without getting rid of those anchors.
Who writes their copy? Hans Christian Anderson or Prince Harry?
Https://www.iconiclabs.co.uk/
"Iconic is a media and technology business focused on the identification, acquisition and growth of technology driven companies in the online media, artificial intelligence, and big data gathering, processing and analysis sectors.
We work with lean online companies that can scale rapidly, operate internationally with an inexpensive footprint, and provide a broad array of services across various sectors through the effective use of information and video gathering, data mining, just in time processing, and online collaboration technology."
https://www.londonstockexchange.com/news-article/ICON/heads-of-terms-signed/16371420
"We want to become part of the rag trade."
GB. I bought over 2 mill AEG at 0.46-0.54p, I sliced at 0.66p, 0.8p, 0.97p, 1.2 and 1.25p high. I bought some back at 0.9p ouch that was a mistake too soon but bought some more below 0.65p happy with that. Why do you think I buy spikes it's quite clear I buy stocks at lows and never buy spikes
Sorry ment for its forum.
Not buying it,
rns in morning will answer all this.
gla
Stick to your AEG investment Davey, bet you with it was suspended rather than rinsing you after its spike.
Yeah you got trapped for once in the daily spiker you pump hence no matter what the deal good or bad you will talk it up but you'll be hovering over the sell button the moment it comes back.
I bet your head would explode if you had to hold a stock more than 24 hours non suspended that is :-))
No wonder this penny market is the worse ever when everybody is now like yourself basically a 5 min trader.
Davey grow up mate what am I pumping its suspended! The news flow is genuine, and City wire is a reliable media outlet used globally. You really are pathetic.
GB you will big up whatever news this issues and say 10 bagger then be the first one out when it returns from suspension.
It does surprise me that people like you or should I say pump and dumpers like you think anybody on here will believe a word you write. It's funny when pump and dumpers get trapped in a stock that spikes with a sudden suspension the ramping intensifies in the hope they can eventually dump with at least their money back