Iconic Labs PLC (LSE: ICON) has announced the conversion of one Convertible Note into 505,050 new Ordinary Shares following a valid Conversion Notice dated 6 November 2026. The conversion was executed at a price of GBP 0.0099 per share, representing an aggregate principal amount of £5,000. Application has been made to admit the new shares to trading on the Main Market of the London Stock Exchange on or around 16 November 2026, bringing the company's total issued ordinary share capital to 19,425,302 shares.

Key Points

  • Iconic Labs PLC (LSE: ICON) — a company traded on the Main Market of the London Stock Exchange
  • One Convertible Note with a principal value of £5,000 has been converted into 505,050 new Ordinary Shares at a conversion price of GBP 0.0099
  • New shares expected to be admitted to trading on or around 16 November 2026; total issued share capital rises to 19,425,302 Ordinary Shares
  • Investors should monitor further conversion notices and any additional dilution to the existing share capital

Conversion Notice Terms: £5,000 Principal Converted at GBP 0.0099 Per Share

The Conversion Notice, dated 6 November 2026, instructed the conversion of a single Convertible Note at a price of GBP 0.0099 per share, yielding 505,050 new Ordinary Shares with a nominal value of £0.0001 each. The aggregate principal amount converted was £5,000. The announcement states that the new shares will rank pari passu with Iconic Labs' existing Ordinary Shares, meaning they carry identical rights with respect to voting, dividends, and any future capital distribution. This is a standard mechanism allowing noteholders to convert debt obligations into equity at a predetermined price.

London Stock Exchange Admission Expected on or Around 16 November 2026

Iconic Labs has made a formal application for the 505,050 new Ordinary Shares to be admitted to trading on the Main Market of the London Stock Exchange. The company's announcement states that admission is expected on or around 16 November 2026. Once admitted, the shares will form part of the company's enlarged issued share capital and will be freely tradeable alongside existing Ordinary Shares. Investors may be watching for confirmation of the admission date, as any delay or complication in the admission process could affect the timely settlement of the conversion.

Total Issued Share Capital Reaches 19,425,302 Shares After Allotment

Following the allotment of the 505,050 new Ordinary Shares, Iconic Labs' total issued ordinary share capital will stand at 19,425,302 shares. The company confirms in the announcement that this figure also represents the total number of voting rights in the Company and should be used by shareholders as the denominator when calculating whether they are required to notify interests or changes in interests under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. Existing shareholders will experience a degree of dilution as a result of this allotment, though the scale relative to the overall capital base is determined by the figures disclosed.