REG - Oxford Cannabinoid - Subscription

Oxford Cannabinoid Technologies HoldingsAnnouncement

15/02/2024 07:00

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RNS Number : 1551D  Oxford Cannabinoid Tech.Holdings  15 February 2024

 

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

 

Subscription

 

Oxford Cannabinoid Technologies Holdings plc (LSE:OCTP), the biotech company
developing prescription cannabinoid medicines, confirms that further to the
Company's announcement of 30 January 2024, which includes details of the
subscription by various existing shareholders and new institutional investors
for a total of 128,000,000 new ordinary shares of 0.1 pence each in the
capital of the Company ("Subscription Shares") raising gross proceeds of
£640,000, applications have been made to the Financial Conduct Authority
("FCA") and the London Stock Exchange Group Plc ("LSE") for the admission to
the Official List of the FCA and to trading on the Main Market of the LSE of
the 128,000,000 Subscription Shares to be issued in respect of the
Subscription. It is expected that the Subscription Shares will be admitted to
trading and dealings will commence on the LSE on 20 February 2024.

 

The Subscription Shares will rank pari passu with the existing ordinary shares
of 0.1 pence each in the issued share capital of the Company ("Ordinary
Shares").

 

Following the issue of the Subscription Shares, the Company's issued share
capital will comprise  1,088,415,644 Ordinary Shares (such figure includes
the Subscription Shares). This figure of 1,088,415,644 Ordinary Shares may be
used by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules.

 

The Directors of the Company take responsibility for 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 US$ 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"). 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 licence 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.

 

 

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