WideCells Group PLC New Engagement for Iconic Labs (8487A)

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RNS Number : 8487A

WideCells Group PLC

03 June 2019

3 June 2019

WideCells Group PLC ("WideCells" or the "Company")

New Engagement for Iconic Labs

WideCells is pleased to announce that its Iconic Labs new media business has agreed in principle and commenced work on a consulting and marketing services engagement with a UK based financial services business. This engagement is on a long-term retainer basis, with initial revenues over the first year expected to exceed GBP1 million, with the potential for material increases.

Executive Chairman, David Sefton, said: "I am delighted that the Iconic Labs team has been able to secure such a significant engagement at this early stage. Not only is the project an interesting one, which will enable the team to fully utilise their skills and experience to transform the customer acquisition and interaction for the client, but from a Company perspective, an engagement worth in excess of GBP1 million will bring financial stability. The importance of this cannot be underestimated.

"I also want to assure investors that the completion of the restructuring is now very close, following which we will propose the official name change. I know that time and costs of dealing with the significant (and sometimes hidden) liability issues has been trying but we are nearly there, and with the support of our investors, can clearly look forward to an exciting future for the Company."

Chief Executive Officer, John Quinlan, said: "With just a soft launch we have already made inroads into our market and have received extremely positive feedback on our plans and offering. We understand the space and are well placed to exploit insights, network and proprietary technology to provide online marketing and create unique content for brands.

"With first engagement in place and revenue due, we have already reached the first stage of our growth strategy. I look forward to updating investors on our progress and would like to thank all stakeholders for their support."

**ENDS**

For further information, please visit the Company's website www.iconiclabs.co.uk or contact:

 
 Shard Capital Partners   Co-broker - Damon Heath,        Tel: +44 (0) 20 
  LLP                      Erik Woolgar                    7186 9950 
 finnCap Ltd              Co-broker - Chris Raggett       Tel: +44 (0) 20 
  St Brides Partners       PR - Melissa Hancock, Juliet    7220 0500 
  Limited                  Earl                            Tel: +44 (0) 20 
                                                           7236 1177 
 

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June 03, 2019 02:00 ET (06:00 GMT)