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ICONIC LABS PLC M&A Activity 2023
4953_tar_2023-01-16_fe27fc28-4ea3-483a-9ebf-9ba91bf6772f.html
M&A Activity
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National Storage Mechanism | Additional information 
RNS Number : 8904M
Iconic Labs PLC
16 January 2023
Iconic Labs PLC
("Iconic" or the "Company")
Update Regarding Sting Industries Acquisition
Iconic Labs PLC (LSE:ICON), a multi-divisional new media and technology business, references its announcement on 10 May 2021 that it had signed a non-binding letter of intent ("LOI") to acquire a controlling stake in Sting industries Ltd.
Given that shortly after this announcement was made, Iconic entered into administration and significant time was spent restructuring the Company, the Company wishes to make it clear that as a result no further progress was made regarding this LOI, and it terminated of its own accord at that time.
Iconic Labs has no intention of revisiting the deal contemplated by this LOI.
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