Iconic Labs Plc (LSE: ICON), has acquired a 24 per cent shareholding in Medium Channel Media Limited. The acquisition is in return for the provision of management and consultancy services, which provides for fees to be payable by MCM to the company on a monthly basis and also provides a minimum retainer revenue of no less than £25,000 a month. The company will also have a provision of a loan for £150,000 to be used solely for working capital purposes.
On 12th September 2019, at the time of writing, GMT 12:33 PM, ICON shares were trading at GBX 0.1175, down by 2.08% against the previous day closing price.
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