Board Change • Jul 03
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. 4 highly experienced directors. 1 independent director (2 non-independent directors). Chairman of Scientific Advisory Committee Tristan Mckay is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Bela Lendvai-Lintner was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Jul 01
Iconic Labs PLC Announces Board Changes, Effective July 1, 2026 Iconic Labs PLC announced that after more than two years of serving as a Director of the Company, Victor Humberdot stepped down from this position with immediate effect, effective July 1, 2026. the company also announced the appointment of Bertalan Jászkuti (aged 52) as Director with immediate effect, effective July 1, 2026. Bertalan is a health economist and currently serves as Head of Innovation Funding at Syreon Research Institute Ltd. Prior to his current position, he held senior roles focusing on corporate finance advisory, mergers & acquisitions, fundraising and equity capital market transactions including at Deloitte Advisory and Management Consulting where he was for six years, in addition to his own life-sciences focused boutique investment firm. Over the past 25 years Bertalan has served a wide variety of clients including entrepreneurs seeking sales or fundraising as well as institutional private equity funds, private investors and large multinational companies seeking capital deployment. Bertalan completed all exams at the Chartered Association of Certified Accountants (ACCA) and he holds the ICAEW's Corporate Finance (CF) qualification. New Risk • Feb 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£448k free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Negative equity (-UK£4.0m). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£359.9k market cap, or US$486.1k). 