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The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Iconic Labs PLC - London-based media and technology company - Confirms that both High Court of Justice, Business & Property Court, and Companies House have confirmed and accepted joint administrator’s final report. Administration therefore ceases and control of Iconic returns to directors. Chief Executive Officer, Brad Taylor states, ‘our priority now is to continue working with the Financial Conduct Authority to get the suspension of the company’s shares lifted as soon as possible.’
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Argo Blockchain PLC - London-based blockchain technology - Receives notification from Nasdaq Stock Market LLC Listing Qualifications Department that it is not in compliance with minimum bid price requirement. Closing price of company’s shares listed on Nasdaq Global Select Market was below $1.00 for 30 consecutive days. Company has until June 2023 to regain compliance with the minimum bid price requirement, during which time shares expected to trade on the Nasdaq Global Select Market. If at any time before then, the bid price of the shares closes at or above $1.00 per share for a minimum of 10 consecutive business days, company will receive notification it has achieved compliance with the minimum bid price requirement.
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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Receives subscription agreement under current funding round for $10 million. Subscription agreed with family office of a Gulf-based investor. Subscription to be made through new special purpose vehicle. Subscription is for 684,594 shares priced at 1,178 pence per share. CEO Richard Shearer says ‘This funding round, in a deteriorating macro-economic environment, continues to move along well, if a little slower than we would like. We set out on this round with very different market conditions to those which we find ourselves now, but the continued show of support and interest in Tintra from prospective investors continues to be incredibly motivational.’
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Chesnara PLC - Preston, England-based insurance company - Receives all necessary court and regulatory approvals for proposed acquisition of Nederlandsche Algemeene Maatschappij van Levensverzekering ‘Conservatrix’ NV’s insurance portfolio, announced July 22. Acquisition will formally complete January 1 2023. CEO Steve Murray says ‘We are delighted to receive the necessary Court and Regulatory approvals for the acquisition of Conservatrix’s insurance portfolio and to be able to welcome the Conservatrix customers and staff to the Chesnara Group from the start of 2023. We recognise that the bankruptcy of Conservatrix has caused significant uncertainty for its customers and employees, but we hope that the acquisition provides certainty and a clear way forward for them.’
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By Chris Dorrell, Alliance News reporter
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