Iconic Labs PLC - London-based media and technology company - Creditors agree with joint administrators over funding proposals.
Company notes administrators make reference to claims that the company may have against various parties and associated counter-claims.
"The joint administrators do not currently know whether the potential claims previously publicised by the directors or counter-claims have any merit, or if they have merit, whether if successful the claims would entitle the company to recover any or any material damages. The joint administrators also note for the record, that whilst the company had issued letters to a number of parties threatening to issue proceedings, they are not aware of any proceedings which had actually been commenced," company says.
Current stock price: 0.016 pence
Year-to-date change: down sharply from 1.00p
By Paul McGowan; paulmcgowan@alliancenews.com
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Iconic Labs (ICON)