iCandy to Exit ASX on April 1, Plans NYSE Listing for Lemon Sky Studios

Delisting Confirmed

iCandy Interactive Limited (ASX:ICI) has officially confirmed it will be removed from the Australian Securities Exchange's official list on 1 April 2026. This move marks a significant shift for the video game developer, which has been a notable player in the Southeast Asian gaming sector with offices spanning Malaysia, Singapore, and Indonesia.

Following delisting, iCandy will continue to operate as an Australian public company, albeit unlisted. This means it will remain subject to the Australian Corporations Act and other regulatory frameworks governing shareholder rights and corporate governance, but its shares will no longer trade on the ASX.

Implications for Shareholders

Shareholders will retain their holdings in iCandy but will need to adjust to a new communication and trading environment. Instead of ASX announcements, updates will be disseminated through the company’s website and direct mailing lists. Trading of shares will be limited to off-market transfers, requiring coordination with the company’s share registry, MUFG Corporate Markets.

While this reduces liquidity and ease of trading, iCandy has assured shareholders that mechanisms to return value are under consideration. Central to this strategy is the potential listing of Lemon Sky Studios, iCandy’s primary asset, on the NYSE American exchange. This move could unlock significant value and provide a new avenue for shareholder returns, possibly through in-specie dividends or other capital return methods.

Financial Reporting and Future Plans

The company has acknowledged delays in finalising its audited financial statements for FY2024 and FY2025, citing challenges that prevented meeting ASX deadlines. However, iCandy remains committed to completing these audits with RSM Australia Partners and lodging the reports with the Australian Securities and Investments Commission (ASIC) in due course.

Looking ahead, management’s primary focus is the NYSE American listing of Lemon Sky Studios, which it believes will deliver the best value for shareholders. The company is also open to exploring other secondary trading platforms, signaling a flexible approach to maintaining market presence despite the ASX exit.

Communication and Governance

To stay informed, shareholders are encouraged to register for updates via iCandy’s website and ensure their contact details are current with the share registry. Despite delisting, iCandy will continue to uphold disclosure obligations under Australian law, maintaining a level of transparency expected of public companies.

This transition marks a new chapter for iCandy, balancing the challenges of delisting with strategic opportunities in international markets.