Trading in the shares of Iconic Labs PLC (LON:ICON) has been suspended after joint administrators were appointed to the company.
In a stock market statement released late on Friday, it was revealed that the appointment came after an unsatisfied demand for payment from Iconic Labs' secured creditor.
The joint administrators will consult with the appropriate bodies to suspend trading in the shares and also confirmed that the general meeting of Iconic Labs scheduled for 15 June 2021 will now no longer take place.
The media, data and technology company announced in May that it was moving into the drone business.