David Sefton felt it was not in the best interests of Iconic Labs for him to be on the board, according to a company statementThe chairman behind the restructuring of Iconic Labs resigned yesterday morning, on the day of its annual meeting, after financial traumas at a company he used to run. David Sefton said that he was stepping down after “rumour and market speculation” over his role at Anglo African Oil & Gas, an explorer focused on the Republic of the Congo. Iconic said that Mr Sefton had felt that his presence on the board “was having an adverse effect” on the company. He became executive chairman of the loss-making, London-listed Iconic last February and set about turning it into a new media and technology business. The company, valued at just over £1 million, acquired Gay Star News, an LGBT publisher, and signed heads of terms to buy…

Source: The Times December 31, 2019 00:06 UTC