Support7 Jun 2021 15:22
PRAGUE, Czech Republic, June 07, 2021 (GLOBE NEWSWIRE) -- Ott Ventures, s.r.o. (“Ott Ventures”), one the largest shareholders of Iconic Labs PLC (“Iconic”), continues to support CEO Brad Taylor and the board of directors in their vision to create shareholder value, and asks the administrators appointed on Friday to immediately step down.
Jean-François Ott, founder and CEO at Ott Ventures, said, “We question the need for this involuntary appointment of administrators for Iconic given that our understanding is that the underlying secured debt will be fully repaid, the company has a clear vision for growth and shareholder value creation, and the European High Growth Opportunities Securitization Fund ('EHGO') is entirely behind Iconic as a financial partner. This is not a situation where administration is warranted or at all necessary. We, as shareholders, do not believe this is a valid or needed appointment, and we ask any other shareholders who may share our opinion to voice their disapproval as well.
“Rather, it is in the best interests of Iconic, its creditors and its shareholders, including us, for the administrators to immediately step down and for the planned General Meeting scheduled for 15 June 2021 to go ahead.