TIDMOCTP
RNS Number : 5053H
Oxford Cannabinoid Tech.Holdings
06 April 2022
6 April 2022
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Results of
Requisitioned General Meeting
Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP, OTCQB:
OCTHF), the p harmaceutical company developing prescription
cannabinoid medicines targeting the US$ multi-billion pain market
is pleased to announce that all resolutions ("Requisitioned
Resolutions") put to shareholders at the requisitioned general
meeting, called by GHS Capital Limited ("GHS Capital"), held today
("Requisitioned General Meeting") were defeated in line with the
Board's unanimous recommendation for shareholders to vote AGAINST
all of the resolutions being proposed.
As announced on 4 March 2022, in advance of the Requisitioned
General Meeting, irrevocable undertakings (including those of
individual Board members) to vote against the Requisitioned
Resolutions were received from shareholders of 446,632,048 ordinary
shares of GBP0.01 each in the issued share capital of the Company,
representing approximately 46.5 per cent. of the issued share
capital of the Company.
Details of the votes cast for each Requisitioned Resolution were
as follows:
Resolution For (including % Against % Total % of issued Withheld*
discretionary) share
capital
voted
THAT James
Brodie be
appointed
as a director
of the Company
with immediate
1. effect. 137,911,042 23.38 451,985,905 76.62 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Richard
Bedford be
appointed
as a director
of the Company
with immediate
2. effect. 137,911,042 23.38 451,985,905 76.62 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Richard
Grethe be
appointed
as a director
of the Company
with immediate
3. effect. 137,911,042 23.38 451,985,905 76.62 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Julie
Pomeroy be
removed as
a director
of the Company
with immediate
4. effect. 137,901,542 23.38 451,995,405 76.62 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Cheryl
Dhillon be
removed as
a director
of the Company
with immediate
5. effect. 137,911,042 23.38 451,985,905 76.62 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT John
Lucas be removed
as a director
of the Company
with immediate
6. effect. 131,744,095 22.33 458,152,852 77.67 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Neil
Mahapatra
be removed
as a director
of the Company
with immediate
7. effect. 131,744,095 22.33 458,152,852 77.67 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Bishrut
Mukherjee
be removed
as a director
of the Company
with immediate
8. effect. 131,594,095 22.31 458,302,852 77.69 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT Richard
Hathaway be
removed as
a director
of the Company
with immediate
9. effect. 131,594,095 22.31 458,302,852 77.69 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
THAT any person
appointed
as a director
of the Company
since 18 February
2022, and
who is not
already referred
to in these
resolutions
be removed
as a director
of the Company
with immediate
10. effect. 138,061,042 23.40 451,835,905 76.60 589,896,947 61.42 8,099
------------------- ---------------- ------ ------ ------------ ----------
* A vote withheld is not a vote in law and is not counted in the
calculation of the proportion of votes "For" or "Against" a
resolution.
A copy of the Requisitioned General Meeting results will also be
available on the Company's website at
https://www.oxcantech.com/investor-financial-results-centre .
Commenting on the outcome of the Meeting, Julie Pomeroy,
Independent Non-Executive Chair of OCTP said:
"The Board is naturally delighted with the results of the
Requisitioned General Meeting, whereby every one of GHS Capital's
Requisitioned Resolutions were defeated. The percentage of votes
polled in favour of the Board illustrates Shareholders' support for
our strategy outlined at Admission on which good progress has been
made.
"The Board believes that the Company's prospects remain
positive, and is grateful for the support shown by a large majority
of its shareholders.
"With the Requisitioned General Meeting having already taken up
a considerable amount of management time and shareholders' funds,
it is now time to move forward and get back to the business in
hand, including the very important upcoming clinical trials for
drug development programmes 1 and 2."
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
Harbor Access LLC
Richard Leighton Richard.Leighton@HarborAccessllc.com
Jonathan Paterson +1 (475) 455 9403
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 Q1 2023. 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.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ROMUPUAACUPPGGQ
(END) Dow Jones Newswires
April 06, 2022 07:58 ET (11:58 GMT)
Oxford Cannabinoid Techn... (LSE:OCTP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Oxford Cannabinoid Techn... (LSE:OCTP)
Historical Stock Chart
From Apr 2023 to Apr 2024
