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Shares of Iconic Labs PLC (LON: ICON), a British digital media management company, soared 88.7% after appointing three new directors to its board as it rebuilds the company after the former management team resigned.

The media company appointed Brendan O'Mahony, a certified accountant and a former partner at EY’s Polish subsidiary; Willem van der Meer, an investment banker and David Štybr, a business development expert.

Willem van der Meer is also a partner at Ott Ventures, the company that claimed to own 5.73 billion shares in Iconic Labs before demanding massive changes at the firm, which led to the departure of the previous management team.

David Štybr is currently the CEO of a family office based in Prague; Willem van der Meer previously founded Amsterdams Effectenkantoor (AEK) and is the founder and CEO of Micro-Algae based in Canada.

Iconic Labs current CEO, Sarah Dees, is rebuilding the media company after the previous management team walked away with its most prominent clients. It will be interesting to see the direction that the company and its new board will pursue under her leadership.

Sarah Dees said: “I am delighted to welcome Brendan, Willem and David to the board. They bring a wealth of experience across a variety of different sectors, and I look forward to working with them to identify value accretive opportunities for the company and its shareholders.”

Iconic Labs share price.

Tradingview chart of Iconic Labs share price 03-03-2021

Iconic Labs shares soared 88.67% higher to trade at 0.010p after rallying from its opening price of 0.0053p.

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