Oxford Cannabinoid Tech.Holdings Requisition of General Meeting - Update (7153D)
March 04 2022 - 8:00AM
UK Regulatory
TIDMOCTP
RNS Number : 7153D
Oxford Cannabinoid Tech.Holdings
04 March 2022
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Requisition of General Meeting - Update
Oxford Cannabinoid Technologies Holdings plc announces that,
following discussions with shareholders, it is already in receipt
of irrevocable undertakings from holders of 446,632,048 ordinary
shares of GBP0.01 each in the issued share capital of the Company
("Ordinary Shares"), representing approximately 46.5 per cent. of
the issued share capital of the Company, to vote AGAINST the
resolutions proposed by GHS Capital Limited ("GHS Capital") in its
letter requisitioning a general meeting of the Company, as
announced on 18 February 2022.
GHS Capital is the holder of 78,146,151 Ordinary Shares,
representing approximately 8.14 per cent. of the issued share
capital in the Company.
Given the above, and with the objective of saving administrative
costs, the Company invited Mr Sathianathan, in his capacity as
Chairman, CEO and Director of GHS Capital, to withdraw the
requisition. Mr Sathianathan has not responded to such invitation
and consequently the Company will publish a full circular,
including a notice of general meeting (expected to be held on 06
April 2022), in due course.
Shareholders are advised to take no action at this time.
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
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
Harbor Access LLC +1 (203) 862 0492
Jonathan Paterson Richard.Leighton@harboraccessllc.com
Richard Leighton
About Oxford Cannabinoid Technologies Holdings Plc :
Oxford Cannabinoid Technologies Holdings plc is the holding
company of Oxford Cannabinoid Technologies Ltd, 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 both natural and synthetic compounds for the treatment
of rare diseases and includes chemically modified phytocannabinoids
with improved drug-like characteristics and a proprietary library
of cannabinoids.
OCTP operates a partnership model with external academic and
commercial partners.
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