MGC Pharmaceuticals - Company Update

Argent BioPharma

30/06/2023 09:30

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RNS Number : 5422E  MGC Pharmaceuticals Limited  30 June 2023

 

MGC Pharmaceuticals Ltd.

Termination of PDMR

 

30 June 2023

ASX, LSE: MXC

 

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') wishes to advise its
shareholders that it has exercised its right to terminate a Person Discharging
Managerial Responsibilities ("PDMR") from their senior management role with
the Company.

Following an internal investigation, the Company has confirmed that the PDMR
failed to comply with the Company's Trading Policy on numerous occasions
during their employment. On these occasions, the PDMR disposed of shares in
the Company during 'Closed Periods' and prior to announcements of information
relating to the Company, to which the PDMR was privy.

Due to the serious nature of these breaches, the PDMR's employment with the
Company has been terminated.

The Company is committed to complying with the highest standards of corporate
governance to ensure that all of its business activities are conducted fairly,
honestly and with integrity. Following this incident, the Company has arranged
additional training with all PDMR's and employees to reinforce the importance
of compliance with the Company's Trading Policy.

Chair of MGC Pharma, Dr Stephen Parker commented: "The values, ethics and
integrity of MGC Pharma have always been of paramount importance.
Unfortunately, the best of intentions and the most rigorous corporate
governance framework cannot always prevent unacceptable behaviour.

The Board is committed to ensuring that further breaches of the Company's
Trading Policy do not occur and is confident that the Company's excellent
reputation will not be tarnished by the actions of one individual.''

 

-Ends-

 

Authorised for release by the Company Secretary, for further information
please contact:

 MGC Pharmaceuticals Ltd                                                     MGC Pharmaceuticals Ltd

 Roby Zomer                                                                  Arron Canicais / Rowan Harland

 CEO & Managing Director                                                     Joint Company Secretaries

 +61 8 6382 3390                                                             +61 8 6382 3390

 info@mgcpharma.co.uk (mailto:info@mgcpharma.co.uk)                          info@mgcpharma.co.uk (mailto:info@mgcpharma.co.uk)
 UK Brokers                                                                  UK Brokers

 Peterhouse Capital                                                          Oberon Capital

 Charles Goodfellow / Lucy Williams / Duncan Vasey                           Aimee McCusker / Adam Pollock

 +44 207 469 0930                                                            +44 203 179 5300

 cg@peterhousecap.com (mailto:cg@peterhousecap.com) / lw@peterhousecap.com   aimeemccusker@oberoninvestments.com
 (mailto:lw@peterhousecap.com)                                               (mailto:aimeemccusker@oberoninvestments.com) adampollock@oberoninvestments.com
                                                                             (mailto:adampollock@oberoninvestments.com)
 UK IR/PR Advisers

 IFC Advisory

 Graham Herring / Tim Metcalfe / Zach Cohen

 +44 203 934 6630

 mgcpharma@investor-focus.co.uk (mailto:mgcpharma@investor-focus.co.uk)

 

About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based
pharmaceutical company, focused on developing and supplying accessible and
ethically produced plant inspired medicines, combining in-house research with
innovative technologies, with the goal of finding or producing treatments to
for unmet medical conditions.

 

The Company's founders and executives are key figures in the global
pharmaceuticals industry and the core business strategy is to develop and
supply high quality plant inspired medicines for the growing demand in the
medical markets in Europe, North America and Australasia.

 

MGC Pharma has a robust development pipeline targeting two widespread medical
conditions and has further products under development.

 

MGC Pharma has partnered with renowned institutions and academia to optimise
the development of targeted plant inspired medicines, to be produced in the
Company's EU-GMP Certified manufacturing facilities.

 

MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland
and has a global distribution footprint via an extensive network of commercial
partners meaning that it is poised to supply the global market.

 

Follow us through our social media channels:

Twitter: @MGC_Pharma

Facebook: @mgcpharmaceuticals

LinkedIn: MGC Pharmaceuticals Ltd.

Instagram: @mgc_pharma

 

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