RE: Conversions4 Dec 2023 18:03
On 28 September 2022 Iconic entered into the Financing Facility with EHGOSF. The Financing Facility can be drawn down in up to 14 sequential tranches over a maximum period of 18 months and each Note has a duration of 24 months as from its date of issue.
Under the Financing Facility, EHGOSF will provide Iconic with up to £3 million by subscribing for up to 3,000 Notes, each with a par value of £1,000, convertible into new ordinary shares in the Company, with Warrants attached.
For the period ended 31 December 2022, Iconic had drawn down a total of £550,000 in three tranches under the Financing Facility (minus £30,000 from the first tranche of £250,000 for fees to EHGOSF) and issued a corresponding 550 Notes along with warrants.
what you have to do B86'' is go through all the RNS conversion we have had so far from the date above, and add it to the £550k we have already drawn down and you will have your answer + or - extra payment in shares for been under our nominal value of 10p DYOR, but as BRAD seems to be getting these conversion in quicker than the once a month, expected it perhaps won't take as long as 18 month to complete, but yes more pain before gain unfortunately if you can stomach it, and as investors, we are not really sure what the SP will drop to before completion date, but there is still a bit of hope to all this, where the conversion shares cannot be issued under 10p no matter how much extra shares we have to give EHGOF along the way until it's finish, so timing is going to be everything to benefit from any rise back to at least it's nominal value of 10p but when it will stop dropping nobody knows as it's a gamble....
REGARDS
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