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Executive chairman David Sefton and the newly appointed CEO of Iconic Labs Plc John Quinlan talk Proactive London's Andrew Scott through the restructure of the existing WideCells Group PLC (LON:WDC) and the focus of its new media business.

The group, which previously focused on stem cell research, will now be targeting online marketing, content, and technology products designed to create brands and increase customer engagement.

Six divisions are scheduled to be rolled out over a phased period including a consultancy business focused on social media tools, a content licensing arm, and a segment looking to acquire online publishing brands.

David Sefton, Executive Chairman of WideCells, commented: “We have taken control of the Board of the Company and are focussed on building a business that generates value for shareholders. The new Board has an extensive network, commercial experience and business expertise that we will utilise to implement a wider strategy and identify additional businesses that we believe will benefit from the new Board and the listed corporate structure. We remain supportive of a restructured and simplified WideCells business, which will be run entirely through a subsidiary structure, and are excited about the future for the Company itself and of consummating deals in the near future.”

woodstock listen to the interviews

Applegarth I know you have been in this a while but that really is scare mongering. I can't see Altair suddenly dropping out.

Applegarth can't see the lending facility being stopped why would it they have been doing this for years.

More likely Origen selling as well or who ever they transferred it to

Lets see if Price buys any down here

Maybe a good time to ask to look at the share register

For anyone new looking in this is worth a listen h

ttps://www.turnerpope.com/turner-pope-investor-evening-may-2019/

Expect to see Ehgos Tr1 today or tomorrow, also expecting an update on the direction of Stemcells at some point hopefully they will offload it. Also an update on the shareholders register will be helpful. Hoping he stops the clns now as clearly the price is not underpinned at 0.40 as suggested no more dilution please unless it is for acquisitions and growth.

And here come the finance rampers tut tut rinse and repeat

He was trading this share for months while trying to get all of you to buy I wouldn't think he will want to be part of the concert party no way is he going to part with his hard earned scamming cash.

https://twitter.com/BiomassMagazine/status/1131627118293639168

Odd it doesn't state Hogans previous holding

You couldn't make this shit up if Jz hadn't of bought Mrs shares with Urus cash they wouldn't of needed funding. Its just another way for Jz and Hogan to keep the gravy train going.

They are selling but who is buying them?

smokingjoe the fund has exhausted the buyers and only so many will buy pre-news The company needs to get a contract out if they want volume Lets face it the fund are not hanging around.

Sorry for holders here I losing the vote

Update on European High Growth Opportunities Securitization Fund ("HGOSF") Facility:

HGOSF remains supportive as evidenced by the inclusion of a conversion floor price mechanism as announced on 1 May 2019. This puts a notional floor on the price of 0.4p. Of the £1,600,000 originally announced, there is a further £500,000 potentially available under the drawdown facility. The Company remains grateful for the support of HGOSF, without which the Company would almost inevitably have failed. This would have led to the complete loss of shareholder equity as well as very significant losses for former employees, counterparties and contractors, against which the legacy business had no revenues or assets of any material value to be realised.

The directors of the Company have sufficient authority to issue shares and rights to subscribe for shares to issue the first tranche of the Bond Issue, but will be required to call a General Meeting to receive authority from shareholders to enable the balance of the Bond Issue, including the attached Warrants, to be implemented. Furthermore, at the current share price, the Bond Issue will result, on full conversion of the Bonds and the attached Warrants, in the issue of substantially more than 20% of the Group's issued share capital triggering a requirement to issue a prospectus (which would need to be approved by the Financial Conduct Authority) prior to the issue of the shares (the 'Prospectus Requirement').

The first two drawdowns of the Bonds (totalling £1,635,000 in aggregate) are mandatory, but the drawdown of the remainder of the Bonds is not mandatory, although the Investor does have the right to require the Company to draw down any two of the remaining tranches. The Bonds are to be freely transferable and have a maturity of 12 months, after which all the Bonds will be mandatorily converted into Ordinary Shares to the extent not previously converted. The conversion price for the Bonds will be 90% of the lowest closing volume-weighted average price of Ordinary Shares ('VWAP') in the 15 trading days prior to conversion.

In relation to the Warrants, all Warrants are exercisable for a period of five years from their date of issue and are to be freely transferable. There are to be two series of Warrants (i.e. Warrants A and Warrants B). The number of Warrants A to be issued on the drawdown of the second tranche would be equivalent to 15% of the Total Commitment divided by the exercise price of the Warrants A. The number of Warrants B to be issued on the drawdown of each tranche will be equivalent to 20% of the nominal value of the Bonds issued in such tranche divided by the exercise price of the Warrants B , although the Warrants B to be issued in respect of the first tranche will actually be issued on the drawdown of the second tranche.

The exercise price of the Warrants A will be 120% of the lower of:

& the lowest closing VWAP of the 15 trading days immediately preceding the date of signing of the letter of intent signed by the Company and Alpha Blue Ocean Inc., ('ABO') on 13 September 2018 in relation to the Bond Issue (the 'LOI'); and

& the lowest closing VWAP of the 15 trading days immediately preceding the request to issue the first tranche.

The exercise price of the Warrants B will be 120% of the lowest closing VWAP of the 15 trading days immediately preceding the request to issue the relevant tranche (or, in respect of the first tranche only, the lowest closing VWAP of the 15 trading days immediately preceding the date of signing of the LOI in relation to the Bond Issue, if such figure is lower).