Iconic Labs Shares Fall on Restoration to Trading After 2021 Suspension

view original post

By Joe Hoppe

Iconic Labs PLC shares fell upon their restoration to trading by the U.K.’s Financial Conduct Authority at 1200 GMT Tuesday, having been suspended since June 2021.

Shares at 1210 GMT were down 22% at 0.01 pence.

The new media and technology company’s shares had been suspended after the appointment of joint administrators over the company, following an unsatisfied demand for payment from Iconic Labs’ secured creditor.

It said on Jan. 6 that all disputes involving the company have been resolved, and under its Company Voluntary Arrangement, administration fees and preferential and critical creditors are being paid under a payment plan.

Write to Joe Hoppe at joseph.hoppe@wsj.com