REG - Oxford Cannabinoid - Director Dealing

Oxford Cannabinoid Technologies HoldingsAnnouncement

20/10/2023 07:00

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RNS Number : 7352Q  Oxford Cannabinoid Tech.Holdings  20 October 2023

 

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

 

Director Dealing

 

Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP), the pharmaceutical
company developing prescription cannabinoid medicines, announces that it has
been informed that Kingsley Capital Partners LLP ("KCP"), has sold 54,864,286
ordinary shares of £0.01 each in the issued share capital of the Company of
which 20,457,483 were acquired by Neil Mahapatra in his own name. Neil
Mahapatra, the Managing Partner of KCP, (through his beneficial interest in up
to 54.3 per cent. of KCP's shareholding in the Company) controls the exercise
of 100 per cent. of KCP's voting rights in OCT.

The PDMR form of Neil Mahapatra is set out below.

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 Holdings plc  +44 (0)20 3034 2820
 Clarissa Sowemimo-Coker (CEO)                 clarissa@oxcantech.com

 Cairn Financial Advisers LLP
 Emily Staples                                 +44 (0)20 7213 0897
 Jo Turner                                     +44 (0) 20 7213 0885

 Axis Capital Markets Limited
 Richard Hutchison                             +44 (0)20 3026 0320

 Acuitas Communications                        020 3745 0293 / 07799 767676
 Simon Nayyar                                  simon.nayyar@acuitascomms.com
 Arthur Dingemans                              arthur.dingemans@acuitascomms.com

 

About Oxford Cannabinoid Technologies Holdings Plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company
of Oxford Cannabinoid Technologies Ltd (together the "Group"), a
pharmaceutical Group developing prescription cannabinoid medicines initially
targeting the U$ multi-billion global pain market.

 

OCTP currently has a portfolio of four drug development programmes. Its lead
compound, OCT461201, will initially target neuropathic and visceral pain
(including irritable bowel syndrome ("IBS") and chemotherapy induced
peripheral neuropathy ("CIPN")) Dosing of all the cohorts of the Phase I,
single ascending dose study for OCT461201 has been successfully completed. No
safety or tolerability concerns were exhibited with any dose tested. As a
result, OCTP is satisfied that it is safe to proceed to the next stage of
clinical development of its lead compound. The global market for CIPN alone is
currently forecast to reach US$1.17bn by 2028.

 

OCTP's drug development pipeline comprises both natural and synthetic
compounds, and includes compounds targeting trigeminal neuralgia, a severe
type of face pain, and cannabinoid derivatives targeting pain and potentially
other therapeutic areas. Having established an exclusive license agreement
with Canopy Growth Corporation for their entire pharmaceutical cannabinoid
derivative library, OCTP now has a portfolio of almost five hundred
derivatives and intellectual property rights including fourteen patent
families and associated research data.

 

OCTP 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. OCTP's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key activities.

 

 

 Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
 596/2014
 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a.  Name                                                         Indraneil Mahapatra
 2   Reason for notification

 a.  Position/Status                                              NED of Oxford Cannabinoid Technologies Holdings PLC ("OCT")
 b.  Initial notification/                                        Initial notification

     Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         Oxford Cannabinoid Technologies Holdings plc
 b.  LEI                                                          2138005SRWT4998BCE35
 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  Oxford Cannabinoid Technologies Holdings PLC

Identification Code                                         Ordinary shares of £0.01 each

                                                                  GB00BMVMRB86
 b.  Nature of the transaction                                    Prior to the transaction, being the subject of this disclosures. Kingsley
                                                                  Capital Partners LLP ("KCP") held 198,466,493 ordinary shares of £0.01 each
                                                                  in the issued share capital of OCT ("Ordinary Shares"). Indraneil Mahapatra,
                                                                  the Managing Partner of KCP, (through his beneficial interest in up to 54.3
                                                                  per cent. of KCP's shareholding in the Company) controls the exercise of 100
                                                                  per cent. of KCP's voting rights in OCT. Therefore, prior to this disclosure
                                                                  the holding of Indraneil Mahapatra in OCT comprised a total of 199,355,382
                                                                  Ordinary Shares, being 198,466,493 Ordinary Shares held by KCP and 888,889
                                                                  Ordinary Shares held by Rachel Matharu (Neil Mahapatra's wife).

                                                                  KCP has now reduced its holding in Ordinary Shares by 54,864,286 Ordinary
                                                                  Shares of which 20,457,483 Ordinary Shares were acquired by Indraneil
                                                                  Mahapatra in his own name.

                                                                  The resulting position is as follows:

                                                                  (a)  KCP holds 143,602,208 Ordinary Shares of which Indraneil Mahapatra
                                                                  retains 100% of the voting rights; and

                                                                  (b)  Indraneil Mahapatra holds 20,457,483 Ordinary Shares in his own name and
                                                                  888,889 Ordinary Shares held by Rachel Matharu (Indraneil Mahapatra's wife).

                                                                  Indraneil Mahaptra therefore has voting rights over a total of 164,948,580
                                                                  Ordinary Shares which represents approximately 17.17% of the issued share
                                                                  capital of OCT.

 c.  Price(s) and volume(s)
                                                                                Price(s)                   Volume(s)
     £0.0081                                                                    54,864,286 (KCP disposal)

                                                                                £0.0081                    20,457,483 (Indraneil Mahapatra acquisition)

 d.  Aggregated information                                       ·    Disposal of 54,864,286 Ordinary Shares by KCP @ £0.0081 per Ordinary

                                                            Share

                                                            ·    Acquisition of 20,457,483 Ordinary Shares by Neil Mahapatra @
     - Aggregated Volume                                          £0.0081 per share

     - Price
 e.  Date of the transaction                                      18(th) October 2023
 f.  Place of the transaction                                     London

 

 

 

 

 

 

 

 

 

 

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