Member Info for Sycric

"David Sefton, that he wishes to resign from the board at the conclusion of the AGM, which is to be held later today.



David explained to the Company that while he will continue to be involved in and support the Company's operations, and in particular business development, he felt that rumour and market speculation in respect of one of his previous companies, Anglo African Oil & Gas Plc ("AAOG"), was having an adverse effect on the Company such that it was in the interest of the Company that he is not involved as a director or in the financing plans for the Company at this time."

You know he's already left some time ago yeah?

Nope just Heroin.

The rules on AIM regulations are far me lax.

From the small cap you would automatically think this is AIM, but hopefully it not being AIM works in our favour and we see results.

This isn't an AIM company... FYI

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ICON/14430065.html

I imagine if it displayed on LSE it would of shot higher.

https://www.iconiclabs.co.uk/additional-documents/

I think this still has abit to go on the RNS, it's not a bad RNS. This share is under valued.

If I got a 10p dividend I literally wouldn't care about the run up to it. Tbh I barely care at the moment, there's nothing I can do to control the out come of all this. I'll read the forum and do a few web searches myself. Other than that I'm pretty much waiting, zaza and Steve wouldn't want to lose their ownership of this asset, so we have two people fighting well for us.

What's next... We win. Haha, just depends if we're around to see it. Not because it will take years but cornavirus might of killed us all by then.

GSN have articles up as of today, so share price can only start going up now. Revenues will start coming in.

Worth mentioning that authors are on the main website, one was added on the 20th. Currently 6, they must be doing something.

Typically I would expect everything to be done and we give the nod, also the disposal of assets is probably slightly different. The company will most likely not be sold, it will be the asset itself.

Sigh... regardless if this is realised into a monetry value some day. Our shares still exist in a private firm and this is the platform we wish to make communication to each other on. Few members on this board are even paid members, in that case they probably have more right than us free members for a start. We choose to deplete our energy reserves on this chat board, please can your reframe from insulting good people and take a real look at yourself and think. Do I really want to be that guy...

I used to work in the alcohol industry and someone once bought 30L ace of shades champagne at a party in the hilton. The cost on the night was £120k, it was brought out by a 'small person' in a novelty car.

Also 0.30 would mean those who stock up now would get 300% profit (ish)

As it's a sale of a major asset the proceeds should reach investors pockets more than remaining in the business. (Special dividend)

Appears that the website has been updated a bit

https://www.iconiclabs.co.uk/investors/

https://www.iconiclabs.co.uk/wp-content/uploads/2019/12/AUDITED-ANNUAL-REPORT-30-JUNE-2019.pdf

To me the newer company is just a typical capital structure for a business, showing who the shareholders are now. So the PSA now attached to that company to me just shows that they business is not 50% owned by each of them. I'm personally not hugely worried about that fact cause to me it would appear then the PSA would be possibly changed.

Originally doing what I believe to be a 51/49 split, this way I can only assume then that the Georgian oil body only own 50% of the business rather than an a percentage of the proceeds. Ultimately they are not just taking the good times of FRR they are also taking the bad.

Regardless of the ins and outs of this, the previous business relating to Hopes attempt to take control has now been liquidated. He is off the board and the corporation now have a newer business in Georgia set up after and more recently with this change of ownership. Why do that if the company no longer have control of the asset or we are doomed.

Another thought I just had also, literally typing this. Maybe this subsidiary is being prepped for sale? With a 50/50 split.

Anyways all, to me it's a huge positive. Just waiting for my cheque in the post.

Sycric

TSBs the profit agreement was 51% / 49% to start, so it seems more or less the same to me.