Shareholder Update May 2026
Shareholder Update
Following the Company’s delisting from the Australian Securities Exchange on 1 April 2026, iCandy Interactive Limited (“iCandy” or the “Company”) provides the following update to shareholders on the current state of the business and how we are moving forward.
The delisting marks a meaningful transition for the Company. Our immediate focus is to ensure continuity across the business while taking a very measured and disciplined approach to our next phase that may support long term shareholder value.
Operational Continuity
iCandy continues to operate as an unlisted public company under the Australian Corporations Act 2001 (Cth) and other applicable laws and regulations governing shareholder rights and corporate governance.
The Company intends to uphold compliance as a public company to a high standard, while maintaining good shareholder communication with its shareholders.
Across the group, day-to-day operations remain steady:
- iCandy’s main operating subsidiary Lemon Sky Studios continues development across global projects in games and animation.
- Various other subsidiaries continue to explore opportunities in co-development partnerships as planned.
- Teams across iCandy’s Southeast Asia operations remain fully engaged in client delivery and business operations.
In practical terms, the business continues to run as it did prior to delisting.
Post-Delisting Focus
In the near term, priorities are centred around:
- Strengthening turnkey development and production capabilities.
- Improving cost discipline and resource management.
- Focusing on projects and partnerships with clearer commercial outcomes.
- Progressing initiatives that may support long-term shareholder value, including options to return a portion of the equity value in Lemon Sky Studios directly to iCandy shareholders following the potential listing in the US.
The intent is to continue to build a focused and sustainable operating base.
Strategic Initiatives
As previously communicated, the Company continues to assess opportunities that may unlock value for shareholders, including the potential listing of Lemon Sky Studios in the US, and the potential return of a portion of the equity value in Lemon Sky Studios directly to iCandy shareholders.
These initiatives are being evaluated carefully and remain subject to ongoing review. Further updates will be shared when there is greater clarity.
Financial Reporting
The Company continues to work with its auditor RSM Australia Partners to complete the audits of the outstanding financial statements being FY2024, 1HFY2025, and FY2025. Once completed, these will be lodged with ASIC and made available to shareholders.
Shareholder Communications
With the transition away from announcements posted on the ASX, the Company will continue to provide updates through its website and direct communications to shareholders.
Shareholders are encouraged to:
- Access updates via the Company’s website or follow the Company’s LinkedIn page.
- Ensure their contact details with the Company’s share registrar, MUFG Corporate Markets, are up to date.
MUFG Corporate Markets can be contacted at:
Investor Centre: https://au.investorcentre.mpms.mufg.com
Email: support@cm.mpms.mufg.com
Ph: 1300 554 474 (+61 1300 554 474)
Previous announcements published on the ASX can be accessed at: https://www.asx.com.au/markets/trade-our-cash-market/historical-announcements
For shareholder enquiries: ir@icandy.io
Shareholder Frequently Asked Questions (FAQs)
We recognise that shareholders may have questions following this transition. The following addresses some of the more common areas of enquiry.
1. What does the Company’s delisting mean for shareholders?
Following its removal from the ASX Official List on 1 April 2026, iCandy now operates as an unlisted public company. Shareholders continue to hold their shares, and their rights remain governed by the Australian Corporations Act 2001 (Cth), the Company’s constitution and other applicable laws and regulations governing shareholder rights and corporate governance.
2. What happens to my shares?
Your shareholding remains unchanged. While shares are no longer traded on the ASX, they can still be held or transferred via off-market arrangements. For assistance, shareholders may contact the Company’s share registrar:
MUFG Corporate Markets
Investor Centre: https://au.investorcentre.mpms.mufg.com
Email: support@cm.mpms.mufg.com
Ph: 1300 554 474 (+61 1300 554 474)
3. Can I still buy or sell shares in iCandy?
Yes, through off-market transfers. These transactions are arranged directly between parties and processed via the share registrar.
4. Why did the Company delist from the ASX?
The circumstances surrounding the delisting were outlined in earlier ASX announcements. These can be accessed at https://www.asx.com.au/markets/trade-our-cash-market/historical-announcements. Operating as an unlisted public company allows management to focus directly on the business — particularly in areas such as operational efficiency, cost structure, and longer-term initiatives — without the additional constraints and costs of maintaining a public listing. In addition, facilitating the potential listing of Lemon Sky Studios had been a high priority and important consideration made in conjunction with other considerations.
5. Is the Company still operating as normal?
Yes. All core operations remain ongoing, including development work, partnerships, and live projects across the group.
6. What is the Company focused on now?
Current priorities include:
- Improving operational efficiency.
- Focusing on commercially viable work.
- Strengthening internal capabilities.
- Progressing strategic initiatives such as the potential listing of Lemon Sky Studios in the US.
7. What is happening with Lemon Sky Studios?
Lemon Sky Studios continues to operate independently as a leading game and animation studio. The Company continues to evaluate the potential listing of Lemon Sky Studios, as previously communicated. This remains under review and subject to various considerations. Updates will be provided when appropriate.
8. When will financial statements be released?
The Company is working towards completing both FY2024 and FY2025 audited financials. Once finalised, they will be lodged with ASIC and dispatched to shareholders.
9. How will shareholders receive updates going forward?
Updates will be provided via:
- The Company’s website.
- Direct email communications.
- The Company’s LinkedIn page.
Shareholders are encouraged to register for updates and ensure their registrar details are current. Shareholders can also receive updates directly from Lemon Sky social media channels.
10. Will the Company list again in the future?
The Company will continue to consider strategic options, which may include a relisting of the Company, or potential listings of its subsidiaries. No decisions have been finalised at this stage.
11. Who can I contact for further enquiries?
For shareholder enquiries: ir@icandy.io