REG - Kanabo Group PLC - Grant of Options
30/08/2022 14:45
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220830:nRSd6290Xa&default-theme=true
RNS Number : 6290X Kanabo Group PLC 30 August 2022
Kanabo Group Plc
("Kanabo" or the "Company")
Grant of Options
Kanabo Group Plc (LSE:KNB), the pan-European medical cannabis company that
focuses on developing and commercialising cannabis-derived products for
medical patients and wellness CBD consumers, announces the grant of two types
of options over a total of 22,759,150 shares to certain employees, pursuant to
their terms of employment.
options
Name No. of Options Vested options as of today Option Exercise Price Vesting Period for non-vested options
Gil Efron )PDMR) 900,000 - 6.5p Options shall vest over a 3-year period. 33% vest at the end of the 12-month
period following the Vesting Start Date. The remaining options vest over 8
equal 3-month periods thereafter
900,000 - 8.0p
Daniel Poulter (PDMR) 900,000 600,000 6.5p Options shall vest over a 3-year period. 33% vest at the end of the 12-month
period following the Vesting Start Date. The remaining options vest over 8
equal 3-month periods thereafter
900,000 - 8.0p
Other Employees 6,927,200 - 8.0p Options shall vest over a 3-year period. 33% vest at the end of the 12-month
period following the Vesting Start Date. The remaining options vest over 8
equal 3-month periods thereafter
Other Employees 6,927,200 2,000,000 6.5p Options shall vest over a 3-year period. 33% vest at the end of the 12-month
period following the Vesting Start Date. The remaining options vest over 8
equal 3-month periods thereafter.
Other Employees* 975,527 162,588 10.15p Options shall vest in 3 years on a quarterly basis
Other Employees* 2,437,628 406,271 12.65p Options shall vest in 3 years on a quarterly basis
* These options replace options GP's employees had in GP. The options will
only be exercisable in three years from date of acquisition and will be valid
for 2 years from that date.
Options issued for past due debts
As part of the acquisition of The GP Service, the Company offset part of GP's
payroll obligations for its various employees, from the overall consideration.
The Company now reached an agreement with the employees to issue options in
the Company in lieu of owed salaries.
The agreement states that in lieu of the £192,000 owed as salaries, the
company will issue 1,891,595 options with an exercise price being at par. The
number of options granted was calculated according to the transaction price of
12.65 pence less the company's nominal share value. The options will only be
exercisable in two years from the date of issue [three years from date of
acquisition] and will be valid for 3 years from that date.
For further information, please visit http://www.kanabogroup.com/ or contact
the following:
Kanabo Group Plc
Avihu Tamir, CEO Via Vox Markets
Peterhouse Capital Ltd
Eran Zucker / Lauren Riley Tel: +44 (0)20 7469 0930
Vox Markets (Investor Relations)
Kat Perez KanaboGroup@voxmarkets.co.uk
About Kanabo Group Plc
Kanabo Group Plc is creating a new standard in the medical cannabis industry
to improve the well-being of millions of people around the world by providing
a better alternative to the smoking of medicinal cannabis flowers. Kanabo,
which was the first medicinal cannabis company to IPO on London Stock
Exchange, has a focus on the distribution of cannabis-derived products for
medical patients and non-THC products for CBD consumers. It has conducted
extensive Research & Development to produce high-quality cannabis extract
formulas, innovative medical-grade vaporizers, and various non-smoking
consumption solutions. Kanabo sells a range of medical cannabis products and
wellness CBD products in the Primary Markets, including its VapePod, which
delivers a metered dose with every inhalation.
The Notification of Dealing Form provided in accordance with the requirements
of the Market Abuse Regulation in relation to the transaction listed above is
set out below.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gil Efron
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Kanabo Group Plc
b) LEI 213800XPJFSNWJIYKN52
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary Shares
Identification code GB00BYQCS703
b) Nature of the transaction Share Options
c) Price(s) and volume(s)
Price(s) Volume(s)
6.5p 900,000
8.0p 900,000
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 21.3.2022
f) Place of the transaction London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Daniel Poulter
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Kanabo Group Plc
b) LEI 213800XPJFSNWJIYKN52
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary Shares
Identification code GB00BYQCS703
b) Nature of the transaction Share Options
c) Price(s) and volume(s)
Price(s) Volume(s)
6.5p 900,000
8.0p 900,000
d) Aggregated information
- Aggregated volume N/A
- Price N/A
e) Date of the transaction 19.7.2021
f) Place of the transaction London Stock Exchange
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 DSHBKKBNNBKDDFNRecent news on Kanabo
See all newsREG - Kanabo Group PLC - Annual Financial Report
AnnouncementREG - Kanabo Group PLC - Expansion of Treat It to Mental Health Treatments
AnnouncementREG - Kanabo Group PLC ICU Holdings Limited - Holding(s) in Company
AnnouncementRCS - Kanabo Group PLC - Germany Medical Cannabis Legislation Reform
AnnouncementREG - Kanabo Group PLC - Agritec Update
Announcement