Icon Energy Limited Annual Report 2023

Icon Energy Annual Report 2023 27 27 There has not arisen any other item, transaction, or event of a material or unusual nature likely in the opinion of the Directors, to affect substantially the operations or state of affairs of the Consolidated Entity in subsequent financial years. CORPORATE STRATEGIES AND FUTURE DEVELOPMENTS Reference to corporate strategies and future development is to be included in the Chairman’s Report in the Annual Report. The group will continue to pursue the renewal of ATP 855. FINANCIAL POSITION The consolidated loss after tax for the Company and its controlled entities for the financial year ended 30 June 2023 was $5,537,787 (2022: $1,468,076 loss). In September 2022, 13,243,677 listed options were exercised and Icon raised $662,183 before costs. In March 2023, Raymond James, a Director of the Company, signed a loan agreement for the amount of $520,000 to the Company on an interest-free unsecured loan for 2.5 years expiring 13 September 2025. SHARES UNDER OPTION The Company has no options or other convertible securities on issue at the date of this report. DIVIDENDS The Directors recommend that no dividend be paid by the Company. No dividends have been declared or paid by the Company since the end of the previous financial year (30 June 2022). REMUNERATION REPORT The Remuneration Report for the financial period which forms part of the Director’s Report can be found on page 30 of this Annual Report. COMPANY SECRETARY On 27 September 2022, Natalia Fraser resigned from her position as a Company Secretary. Following Ms Fraser’s resignation, Raymond James was appointed as a Company Secretary on