REG - Oxford Cannabinoid - Result of AGM

Oxford Cannabinoid Technologies HoldingsAnnouncement

29/09/2023 07:00

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RNS Number : 0857O  Oxford Cannabinoid Tech.Holdings  29 September 2023

29 September 2023

 

Oxford Cannabinoid Technologies Holdings plc

("OCTP", or the "Company")

 

Result of Annual General Meeting

 

Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP) the pharmaceutical
company developing prescription cannabinoid medicines, announces that all
resolutions set out in the notice of Annual General Meeting ("AGM") dated 5
September 2023 were passed at the AGM held at the offices of Penningtons
Manches Cooper LLP, 125 Wood Street, EC2V 7AW on Thursday, 28 September 2023.

 

      Resolution                                                                    For (including            %      Against                             %     Total                 % of ISC voted  Withheld*

                                                                                    discretionary)
 1.   To receive and adopt the annual accounts and reports of the Company and the          317,413,248        98.53             4,742,806                1.47       322,156,054      33.54                                    196,542
      auditor's report on those accounts and reports for year ended 30 April 2023
 2.   To receive and approve the Directors' remuneration report for year ended 30          320,954,970        99.65             1,133,561                0.35       322,088,531      33.54                                    264,065
      April 2023
 3.   To elect Paul Smalley as a Director of the Company                                   321,217,951        99.71                944,695               0.29       322,162,646      33.54                                    189,950
 4.   To re-elect Cheryl Dhillon as Director of the Company                                317,283,230        98.49             4,879,416                1.51       322,162,646      33.54                                    189,950
 5.   To re-elect Indraneil Mahapatra as Director of the Company                           321,124,133        99.68             1,029,195                0.32       322,153,328      33.54                                    199,268
 6.   To re-appoint Moore Kingston Smith LLP as auditors of the Company                    321,207,525        99.70                955,121               0.30       322,162,646      33.54                                    189,950
 7.   To authorise the Directors to fix the remuneration of the auditors of the            321,150,540        99.69             1,010,083                0.31       322,160,623      33.54                                    191,973
      Company.
 8.   Creation of the Deferred Shares as a new class of shares.                            320,514,800        99.59             1,305,323                0.41       321,820,123      33.51                                    532,473
 9.   Subdivision of the Company's issued share capital.                                   320,433,836        99.57             1,391,623                0.43       321,825,459      33.51                                    527,137
 10.  To authorise the Directors to allot ordinary shares and relevant securities,         320,642,980        99.65             1,136,643                0.35       321,779,623      33.50                                    572,973
      pursuant to Section 551 of the Companies Act 2006.**
 11.  To authorise the Directors to disapply pre-emption rights **                         320,440,908        99.57             1,391,623                0.43       321,832,531      33.51                                    520,065
 12.  That a general meeting other than an annual general meeting may be called on         321,158,929        99.69             1,006,625                0.31       322,165,554      33.54                                    187,042
      not less than 14 clear days' notice.
 13.  Amendment of Articles to cater for Deferred Shares.                                  321,094,593        99.68             1,018,053                0.32       322,112,646      33.54                                    239,950

 

 

 

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 (mailto:clarissa@oxcantech.com)

 Rob Bennett (Company Secretary)               rob@oxcantech.com (mailto:rob@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")), with Phase I clinical trials, aimed at
demonstrating safety and tolerability. Trial results are expected in Q3
2023.
(https://www.londonstockexchange.com/news-article/OCTP/updates-on-lead-programme-1-and-programme-2/15391762)
 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.

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified 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 reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

 

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