iCandy Interactive Confirms ASX Delisting as It Eyes NYSE Listing for Lemon Sky

iCandy Interactive confirms ASX delisting effective 1 April 2026

iCandy Interactive (ASX: ICI) has confirmed its removal from the ASX Official List effective 1 April 2026, following correspondence from the Australian Securities Exchange. The iCandy Interactive ASX delisting marks a transition in the company’s status rather than a cessation of operations, with iCandy continuing to operate as an unlisted Australian public company subject to the Corporations Act 2001 and corporate governance obligations.

The circumstances leading to the delisting were detailed in the company’s ASX release of 13 March 2026. Shareholders and interested investors have been encouraged to subscribe to the company’s email update service via its website to receive ongoing updates regarding progress and activities.

What ASX delisting means for shareholders

Following the delisting, shares will no longer trade on the ASX platform. However, shareholders retain their ownership position in iCandy. The company’s communication channels will shift from the ASX Market Announcement Platform to its own website and mailing lists, whilst audited financial reports will continue to be lodged with the Australian Securities and Investments Commission.

Understanding “Delisted” vs “Ceased Operations”

Delisting means the company’s shares are removed from exchange trading, but the company continues operating. This is fundamentally different from ceasing operations, where the company winds up its business. iCandy remains an active Australian public company with all shareholder rights intact under the Corporations Act 2001.

Share registry and ownership details

Existing shareholdings remain intact following the delisting. Shareholders requiring information about their holdings or wishing to update their details can contact the company’s share registry, MUFG Corporate Markets, on 1300 554 474 or via their website at https://www.mpms.mufg.com/en/for-individuals/au/shareholders/.

Off-market transfers remain available for buying and selling shares. Shareholders wishing to conduct such transactions should contact MUFG Corporate Markets to arrange the paperwork and registration.

Understanding ASX delisting

An ASX delisting occurs when a company’s shares are removed from trading on the Australian Securities Exchange. In the Australian market context, this changes the company’s status from a listed public company to an unlisted public company. The distinction is important because shareholder rights under the Corporations Act remain fully protected regardless of listing status.

Unlisted public companies can operate successfully outside of exchange listing whilst maintaining their obligations to shareholders and regulators. The primary difference lies in how shares are traded, with unlisted shares transacted through off-market transfers rather than exchange-based trading, and how the company communicates material information to shareholders.

Lemon Sky Studios NYSE American listing and value return strategy

The company’s primary asset, Lemon Sky Studios, is being considered for a listing on the NYSE American exchange. This represents the key strategic initiative to generate shareholder value following the ASX delisting. iCandy has appointed Hamilton Locke as its Australian legal adviser to explore this transaction further, as referenced in the company’s webinar presentation of 27 March 2026.

The company is considering potential mechanisms to return value to shareholders if the Lemon Sky Studios listing proceeds:

1. In-specie dividend distribution of Lemon Sky Studios shares to iCandy shareholders
2. Capital return mechanisms to distribute value realised from the listing
3. Other structured approaches to unlock and return shareholder value

Management has stated that the Lemon Sky Studios listing pathway is most likely to generate the best value for iCandy shareholders, positioning this as the forward-looking catalyst for the company’s value realisation strategy.

Outstanding financial statements and future exchange considerations

FY2024 and FY2025 audited accounts

Despite the company’s efforts, audited FY2024 financial statements could not be finalised in time to meet ASX requirements. However, the company has committed to completing both FY2024 and FY2025 financial statements with RSM Australia Partners serving as the appointed auditor. Once completed and audited, the statements will be lodged with ASIC and dispatched to shareholders.

Secondary listing venues

The company will consider listing on secondary trading venues such as Primary Markets. However, the current focus remains on the Lemon Sky Studios listing as the primary value driver for shareholders. Management has emphasised that pursuing the subsidiary listing represents the most effective path to generating shareholder value in the near term.

How shareholders can stay informed

Proactive engagement with company communications becomes essential for shareholders to track the Lemon Sky Studios listing progress and any capital return announcements. The company will continue to be subject to disclosure obligations under the Corporations Act 2001 as an Australian public unlisted company.

Shareholders should take two key actions:

• Register for updates using the registration form on the company’s website at icandy.io
• Update contact details with MUFG Corporate Markets, particularly email addresses to ensure receipt of future communications

For investor relations queries, shareholders can contact the company directly at ir@icandy.io.

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