REG - Kanabo Group PLC - Exercise of Put Option

KanaboAnnouncement

21/02/2022 17:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220221:nRSU3376Ca&default-theme=true

RNS Number : 3376C  Kanabo Group PLC  21 February 2022

Kanabo Group Plc

 

("Kanabo" or the "Company")

 

Exercise of Put Option

 

Kanabo Group Plc (LSE:KNB) announces that pursuant to the acquisition
agreement of The GP Service (UK) Limited ("GP Service"), it approved the
execution and issue of a notice of exercise of option to be issued to Atul
Devani, Atul Suryakant Devani MW Trustees Limited  and Suleman Sacranie. As
such the consideration shares held by them in Kanabo's subsidiary, Kanabo GP
Limited, will be exchanged for new ordinary shares in the Company (the "Option
Exercise"). Both Atul Devani and Suleman Sacranie are now employees in the
Kanabo group of companies and are continuing to manage the business of the GP
Service.

 

Atul Devani will be issued with 9,599,108 new ordinary shares in the Company,
Atul Suryakant Devani MW Trustees Limited will be issued with 1,052,122 new
ordinary shares in the Company and Suleman Sacranie will be issued with
10,651,230 new ordinary shares in the Company (together the "Management
Shares").

 

The Management Shares are subject to a lock-in arrangement for a period of 36
months from the date of the acquisition of GP Services.

 

Total Voting Rights

Application will be made for the Management Shares to be admitted to the
Standard List segment of the Official List and to trading on the main market
of the London Stock Exchange plc ("Admission"). It is expected that Admission
will become effective and that dealings in the Management Shares will commence
at 8.00am on or around 25 February 2022.

 

Following Admission, the total issued share capital of the Company will
consist of 422,625,238 Ordinary shares of 2.5 pence each carrying the right to
one vote. There are no shares currently held in treasury. The total number of
voting rights in the Company will therefore be 422,625,238 and this figure may
be used by shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct Authority's
Disclosure Rules and Transparency Rules.

 

 

For further information, please visit http://www.kanabogroup.com/ or contact
the following:

 Kanabo Group Plc                            Via Vox Markets
 Avihu Tamir, CEO
 Peterhouse Capital Ltd (Financial Adviser)  Tel: +44 (0)20 7469 0930
 Eran Zucker / Lauren Riley
 Peterhouse Capital Ltd (Corporate Broker)   Tel: +44 (0)20 7469 0930
 Lucy Williams / Charles Goodfellow / Duncan Vasey / Martin Lampshire
 Vox Markets (Investor Relations)            KanaboGroup@voxmarkets.co.uk
 Kat Perez                                   kperez@voxmarkets.co.uk

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEEAXAFAFFAEFA