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Last checked at 
8 Jun 2022 18:05
For immediate release
ICONIC LABC PLC - IN ADMINISTRATION
The Joint Administrators provide the following update on the administration and the adjournment of General Meeting:
Administration extension
Following consent from the Secured Creditor, the Administration has been extended for a further 6 months to 3 December 2022.
Disputes
The Joint Administrators confirm that negotiations between the Company, Arch Capital Partners LLP and the European High Growth Opportunities Securitization Fund are progressing.
Proposed Company Voluntary Arrangement
The terms of the proposed Company Voluntary Arrangement have now been agreed, subject to the outcome of the negotiations, referred to above.
As soon as the negotiations are successfully concluded the CVA will be issued, with a view to returning control of the Company back to its Board, if agreed by creditors and shareholders.
It is hoped that a further update will be issued shortly
Antony Batty
Joint Administrator
8 June 2022
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