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Iconic Labs to enter drone business through deal with Ott
Sting provides close range safety and protection by flying in front of the first person through the door
Through a deal with shareholder Ott Ventures, Iconic is set to take a controlling stake in unmanned drone specialist, Sting Industries, through a combination of convertible notes, warrants, cash and a finance facility.
Sting s modular drones are used in a wide range of applications for the military and security sectors.
They provide close range safety and protection by flying in front of the first person through the door in demanding urban environments confronted by special forces, military, police, and security personnel.
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A look at some of the major movers in London on Monday
Amino Technologies PLC (LON:AMO) fell 5.9% to 151.5p after it revealed it has submitted a bid to acquire the trade and assets of MobiTV.
The media technology company said that if it is successful in its bid for MobiTV – a US live and on-demand TV platform provider – would establish a TV as a service (TvaaS) infrastructure capability in the USA for Amino.
As well as the purchase cost, the acquisition would require “significant investment” over a 6-12 month period to develop organically.
1.35pm: Superdry co-founder s stake dips below 7%
Press release content from Business Wire. The AP news staff was not involved in its creation.
EHGO Confirms Resolution of Dispute With Iconic Labs
April 16, 2021 GMT
LUXEMBOURG (BUSINESS WIRE) Apr 16, 2021
European High Growth Opportunities Securitization Fund (“EHGO”), an institutional investment company based in Luxembourg, has welcomed the appointment of new management and board members announced by Iconic Labs Plc (“Iconic”). EGHO confirms that its dispute with Iconic, which pre-dated the current management, has now been resolved and the legal proceedings by EHGO against Iconic have been concluded.
Iconic recently announced Brad Taylor as its new CEO. Mr Taylor was previously general counsel and member of the executive committee at Orco Property Group. Iconic had earlier announced that three new non-executive directors had also been appointed to its board. These are Brendan O’Mahony, a certified accountant and previous partner at EY’s business in Poland; Willem
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