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G'' ·the target, Group revenue increased by 28% to £57.3m (2021: £44.7m) if we can link it to G. S. N ? increase awareness and get ITSARM back to former glory with those type of revenue then possibility for our SP could be endless
but we will see how the deal progress before we count our chickens, and set expectation too high
Sounds about right Share, I don't think we need to re read the ITS board, strange tricks played by Adam and co but ultimately the holders of ICON are not worried about past goings on but the brand that's alive now.
Agreed not great for ITS holders but for ICON I think there's potentially some very good returns to be made. Long term would you hang by their word probably not...
ITS actually made me some great returns trading so I may be slightly biased.
Let me get this straight so ICON are doing RTO with IN THE STYLE Holdings 23 LTD after the original listed IN THE STYLE company delisted original ticker ITS last year via shareholder vote citing after strategic review their current poor liquidity position and they shafted shareholders by not even doing a raise or loan!It was then bought cheaply by another private buyer for 1.2 million who seems to buy up cheap businesses/brands. CEO and founder AF had a huge holding hence won the vote - the deal was only completed if he remained with the new company off the market. The vote went in favour of delist from stockmarket as he had the majority votes. In the time it was listed they needed funds but didn’t ever raise on the market apart from the original IPO - why on earth not? In a short period of time they were listed 18 months from memory (15th March 21 IPO)the share price plummeted until it was peanuts. He then went off into the sunset with the private buyer Baaj Capital and now it’s returning via a RTO with ICON 12 months later Jesus!? Original ITS holders must be fuming! ITS plc is currently suspended and is just a cash shell with a few 1000 k after two people stepped in to halt a winding up petition to try to do something with it - on the irony! I can’t see appetite for investing in the new ITS when so many people lost so much cash or indeed from ii either! So not the AI company so many were relying on! I suggest holders of ICON hop along to the old ITS board and look at the RNS’s especially the March 2023 one and you’ll see the story of what happened! IMHO DYOR
Maid, lets hope so! with 11 mil shares there definitely room for even a ten fold increase without batting many eye lids.
Good news which I hadn't expected,
Got the link ?
Not sure Saint I don't think so.
In the style was sold off leaving ITSARM as a separate entity/cash shell. Adam and his brand no longer have ties there.
Seems strange they want to come back to the market already, they must be doing well.
Just imagine where the SP will be if we are left to grow without conversion when we come back ?
BRAD please get it sorted with EHGOF before we come back, even if it means treble the shares in issue as that would still only be 33m and FK all, you know it makes sense if you want your SP to grow uninterrupted, if shareholders value is to be returned like you say in this RNS
So does this affect itsarm holders whose share is also suspended then Gordon ?
From ITS sale of business RNS June last year. The IN THE STYLE brand lived on separate to the ITSarm listing. Adam and the investor moved to the business we have signed terms with to RTO.
In The Style Group plc (AIM:ITS) ("In The Style", the "Company" or, together with its subsidiary undertakings, the "Group"), the disruptive and inclusive digital womenswear fashion brand, today announces the completion of its strategic review and the conditional agreement to sell its only operating subsidiary, In The Style Fashion Limited ("ITSFL"), for a total cash consideration of £1.2 million (the "Sale").
Highlights:
· Completion of the Company's strategic review ("Strategic Review"), which concludes the offer period (as defined in The City Code on Takeovers and Mergers (the "Code")).
· During the Strategic Review, the Company's board of directors (the "Board" or the "Directors"), along with its financial adviser, Lincoln International LLP ("Lincoln"), reviewed several strategic options, including a potential sale of the Company. While the Company has had positive engagement with several potentially interested parties, some of the parties made proposals that were not deemed by the Board to be deliverable on an acceptable timescale. None of the proposals involved an offer for the whole Company.
· The Company, however, received a deliverable offer for ITSFL from Baaj Capital LLP ("Baaj"), a UK-based, private family office. This offer included a pre-condition that Adam Frisby agreed to take an equity position in ITS Holdings 2023 Limited ("Bidco"), a newly established company formed for the purposes of the Sale, equivalent to his current holding in the Company and to also become Chief Executive Officer of ITSFL on completion of the Sale ("Completion").
Https://find-and-update.company-information.service.gov.uk/company/14703986/officers
Adam and his cronie Jas are coming back to the market! very interesting...
Brad Taylor, Chief Executive Officer of Iconic, commented:
"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."
huge news indeed'' I wonder who the brand will be ? could be NEXT or Mothercare as they are both in trouble ?
FK knows but so longs as they are a popular online brand with revenue and EHGOF is sorted out before we come back to Market i don't give a FK
WELL DONE BRAD
So ITS in its formal glory is returning to the market? Adam and his former business still operating and a huge hit with the younger gen...
Please join the Icon Telelgram if you haven't already
Finally an proper update... just got to be patient now
Surley good steps in the right direction??
After a quick read, all looks great, what’s your thoughts?
John73, you need to make your mind up, you are just spouting nonsense, you seem to want everything good and bad. You make no sense.
Hi, if the make a of the RTO,we will be in the money. I have written this share off. You did not need lot of money to buy 2/3% of the company. Thee market had written it off .
REECE, i feel sorry for those that miss the 2p entry and the boat @ 5p because of the lock down, lock out, 30min before close, when people was desperate to get in on the action, on that faithful day'' as IMO with only 11m shares in issue any reverse takeover of a cash generating business, could see SP come back over £2 and only a few will benefit...
i had 60m before consolidation and i end up with 6k worth when it come back to Market, i was one of the few that cashed out early because of share issue and no RTO forthcoming i manage to pick up 10k worth before suspension again this time round, and I'm well happy with it, even if it sits there for awhile, my 10k worth is equivalent to 100m shares in old money that's more than enough for me, as it will mean i can sell the whole lot in the future without alerting the Market even at @£2 a share
see what happens in the weeks ahead, but i'm extremely excited about this long awaited RTO, and a name change to suit it... would be even better, as we must get rid of the ICON name, and EHGOF constant conversion, to shake the bad luck of the past IMHO
BRAD IF YOU ARE LISTENING
GLA
Some form of update from the Company. It was back in Aug-23 (Iconic Labs prospectus) that they first discussed an RTO, then again in their strategic update in Jan-24. It was only after some insider trading that they released further news and suspended. We are all well aware of the RTO proposition, so why the silence to remain suspended?
Feel sorry for you guys ,I’ve also made good money on he1 ,but any ideas of takeovers nearly always end up badly .
Stop being a smug prick Reece, no one needs an I told you so turning up.
Personally and selfishly I’m actually quite happy it’s suspended, my trading was getting a bit too hot after an 1000% profit on HE1. Was starting to take over a bit so it’s good to have a spell to cool off.
I mentioned weeks ago suspension and unfortunately 6-24 months will be the final outcome
What are you expecting to come atm? I’ve never been involved in an rto at discussion stage but in general from what I have researched we ain’t resuming until more details are released which may or may not happen quickly?