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Iconic Labs PLC - London-based media and technology business - Says proposed acquisition of controlling stake in Sting Industries Ltd has been terminated, with Iconic Labs having no intention of revisiting the deal. This follows Iconic entering administration and restructuring the business shortly after this announcement.
On Friday, Iconic Labs said administration was now completed and control has been returned to the board. Says it and its advisers are active ongoing discussions with the Financial Conduct Authority to lift the suspension of its shares as soon as possible.
By Greg Rosenvinge, Alliance News reporter
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