Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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RNS just out - This company is a complete joke. It needs to be delisted and investigated!! Laughable
I would tend to agree. The only reason for looking in now is to see my thousands of pounds, in someone else's pocket way out of reach and reminisce about how naive I was to invest. 1% here to see a mighty phoenix rising from the ashes. No you're correct, dead as a dodo.
This is dead as a dodo is it not?
If all the BOD’s efforts to bring iconic out of administration lead to nothing, then how can EHGOSF’s £3million loan be repaid via shares that will have zero value. ?
I don't think for a minute that an RTO will happen here, I expect Brad will call it a day after a final milking.
They even admit in the last RNS that no target has been finalised: in their own words - "efforts TOWARDS identifying a suitable acquisition target, MOST LIKELY in the form of a reverse takeover ...."
I find it very strange that nothing has been leaked about what deal we can expect, there must be hundreds of people that have some information that they are dying to share. Especially if they are shareholders, any snippet leaked could push the share price upwards, a little bit of optimism would be nice for all who are deeply under water. its been far too long, Fingers crossed. GLA
Wonder how long it will take them to update the website with the new directors coming in?
I'm not overly concerned if this gets suspended or not, it means progress has been made and finally the next chapter can be written. Most important thing now is to make sure an RTO gets across the line.
Also I don't think we can lose much more money considering we are now only worth £350K approx. The RTO in terms of market CAP should be considerably north of this figure, will no doubt be a mix of cash and shares so yes more shares in issue but with MCAP of x millions.
Not had time to do any real research on the new directors but noted one of them deals with mid market - which hopefully gives us an indication of the sizr of company we are looking at min £15m. In regards to suspension lots of caveats with the FCA to go through but i would hope if RTO goes through then we stand a chance of gaining our money back, time will tell and hopefully now we won't have too much longer to wait.
I've just realised that if an RTO does actually go ahead we could be suspended for several months while they sort out the new business and then we are back to square one.
https://www.handbook.fca.org.uk/handbook/LR/5/6.html
Spoke to someone at an investment firm to find out more, they said these suspensions can last over a year. The really worrying part was the comment that 'almost always shareholders of the acquiring company lose money and shareholders of the target company make significant gains'.
Very close to losing hope in this after years of uncertainty and trying to stay positive!
In Aug they created a prospectus and said this "With a highly experienced team based in the US, UK and Europe, we are well-positioned to explore strategic acquisition options, which may include the possibility of an RTO, and the development of our current media business including owned brands such as GSN."
This is a LOT of hard work to pull this around so those 3 can just pick up a wage, at least that's my view. I guess what they are saying now is RTO is the option... afterall we have a full market listing not aim.
I see the main directors have jumped like rats from a sinking ship so their names won't be tarnished when the company turns off the lights for the last time. Someone remind me exactly what those directors did to earn their pay all those months????
This to me is the best part: "Iconic intended to establish a strategic advisory services business, engaging in fee-based service contracts with technology companies. The objective was to provide valuable guidance on growth plans, product development, marketing and capital raising."
They should have practised what they wanted to preach....
Happy New Year y'all.
.. lets get this RTO over the line now and kick on for 2024
Call me cynical, but seems the old gang got their pay day, now to let the next lot in. I will be very pleasantly surprised if this ever does anything,
This is looking a much safer investment now with the new directors joining
Very small buys are sending the SP up so when the RTO drops this could be a ten bagger easily
I for one am not missing out on that firework moment after a long wait and I definitely don't enjoy the mad rush for stock lol
GLA
Deacs the strategic advisory service was stated in previous RNS
Smart move to scrap this and focus on the media business
Everything pointing towards RTO into AI tech which could blast this into orbit
Making it up as they go along. How anyone would want to be associated with this clapped out ramshackle joke shop is beyond me.
So ICONIC intended to be establish a strategic advisory service did they?? Bull 5hit! Unless I’m mistaken that has never been communicated to the market previously. What was communicated to the market nearly a year ago was the possibility of an RTO. 12 months on ICONIC are only now shifting their focus to an RTO. Sounds like complete bull 5hit to me. 12 months nearly since reinstatement and nothing has been created.
Woodyjofn40
In old money when this came out of administration the shares if consolidated would have been at £1.60 per share so massively down since then.
Looks more like priming the market before another dilution to raise funds.
By then all will be revealed.... ( hopefully)
Ignore my comment regarding publication of results. They are not due till end of March 24. My bad
I wouldn’t trust the BOD. Even if they manage to pull something off the fact they have communicated sweet FA regarding progression of taking this company forward speaks volumes. If the latest set of results are not published tomorrow there could be another temporary suspension.