Oxford Cannabinoid Tech.Holdings Directorate Change (5084T)
November 24 2021 - 12:06PM
UK Regulatory
TIDMOCTP
RNS Number : 5084T
Oxford Cannabinoid Tech.Holdings
24 November 2021
Oxford Cannabinoid Technologies Holdings plc
Director Resignation
Oxford Cannabinoid Technologies Holdings plc ("OCTP" or the
"Company"), the holding company of Oxford Cannabinoid Technologies
Ltd ("OCT"), (together, the "Group"), a company developing licensed
prescription cannabinoid medicines for approval by regulatory
agencies worldwide and targeting the U$ multi-billion pain market,
announces that notwithstanding his re-election at the Company's
Annual General Meeting held earlier today, the Board has today been
informed by Gavin Sathianathan that he wishes to retire from the
Board with immediate effect to focus full-time on his role as Chief
Executive Officer at Alta Flora Limited.
Mr Sathianathan retains his options over 2,401,039 Ordinary
Shares with an exercise price of GBP0.065 per option. The exercise
period for the options is staggered over three years with one third
of the options granted vesting each year commencing on the first
anniversary of the date of grant, which was 21 May 2021.
The Board would like to take this opportunity to thank Gavin for
his involvement and wish him well for the future.
Gavin Sathianathan said: "I remain fully supportive of the
Company and look forward to playing an active role as a key
shareholder in the future."
The Company's CEO Dr John Lucas said: "We're hugely grateful to
Gavin for the enthusiasm and expertise he has shared with us during
his time with the Company and we all wish him well for the
future."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
The Directors of the Company accept responsibility for the
content of this announcement.
Enquiries:
Oxford Cannabinoid Technologies +44 (0)20 3034 2820
Holdings plc john@oxcantech.com
Dr John Lucas (CEO) clarissa@oxcantech.com
Clarissa Sowemimo-Coker (COO)
Cairn Financial Advisers LLP
Emily Staples +44 (0)20 7213 0897
Jo Turner +44 (0) 20 7213 0885
Walbrook PR Limited +44 (0)20 7933 8780
Paul Vann +44 (0)7768 807631
Nicholas Johnson oxcantech@walbrookpr.com
About Oxford Cannabinoid Technologies Holdings Plc :
Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the
holding company of Oxford Cannabinoid Technologies Ltd ("OCT"), a
pharmaceutical company developing prescription cannabinoid
medicines for approval by key medicines regulatory agencies
worldwide and targeting the U$ multi-billion pain market (together
the "Group"). Cannabinoids are compounds found in the cannabis
plant that have been shown to have a range of therapeutic effects
on the body, including pain relief. The Group has a clearly defined
path to commercialisation, revenues and growth.
The Group is developing drug candidates through clinical trials
to gain regulatory approval (FDA/MHRA/EMA) that will enable medical
professionals to prescribe them with confidence.
The Group's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key
activities. The Group's lead compound, OCT461201, is a highly
potent and selective CB2 agonist and is being developed by OCT in a
solid oral dosage form. OCT is conducting pre-clinical testing and
development with pre-clinical trials scheduled for 2022. The
Group's product pipeline also uses a balanced drug product strategy
that employs phytocannabinoids, cannabinoid derivatives and other
novel compounds for the treatment of pain.
OCTP operates a partnership model with external academic and
commercial partners, including the University of Oxford.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
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