Iconic Labs PLC (LON:ICON) shares rose on Thursday as the media and technology group unveiled several new contracts secured for its JOE Media business.
The company, which has a management services agreement with JOE Media, said the contracts concern the production and distribution of bespoke social content to clients in a number of sectors including gambling, video games and online music streaming.
READ: Iconic Labs inks management contract with Lovin’ Media
Iconic said the contracts have a value of over £750,000 and all commenced in the fourth quarter.
Under the management services agreement, Iconic manages all commercial aspects of JOE Media in the UK and Ireland in return for a monthly retainer fee of £100,000 plus external costs as well as 25% of all profits if certain revenue and profit targets are met.
Iconic shares rose 12.5% to 0.014p in late-morning trading.