REG - Greencare Capital - Appointment of new CEO

Wam CapitalAnnouncement

12/05/2021 08:05

RNS Number : 3465Y
  
Greencare Capital PLC
  
12 May 2021
  
 

12.05.21.
 
Greencare Capital plc
("Greencare" or "the Company")
Board Changes
Appointment of new Chief Executive Officer
Greencare, (AQUIS: GRE), the investment company focused on investing in medicinal cannabis, CBD and related areas, is pleased to announce the appointment of Richard Tonthat as Chief Executive Officer with immediate effect. Fabio Carretta, whilst stepping down from the Board to spend more time on his other business interests, will continue to support the Company, particularly in relation to capital market activities. The Company also announces that Nicholas Lee, a non-executive director, has been appointed as Non-executive Chairman with immediate effect.
Mr Tonthat qualified as a Chartered Accountant with PricewaterhouseCoopers and is an experienced corporate financier and investment adviser with recent experience in the cannabis sector. Prior to joining Greencare, he was an independent consultant advising on M&A, debt financing and equity investments. During this time, he worked with British American Tobacco plc on a number of transactions, including a C$221million equity investment into a listed Canadian cannabis licensed producer.
Previously he was a Director in the Corporate Finance team at Grant Thornton where he managed a portfolio of public company clients and had a proven track record of delivering multiple M&A, IPO, debt and private equity fundraising projects. 
The following information is disclosed pursuant to R.4.9 of the AQSE Growth Market Access Rulebook.
Richard Tonthat (aged 37) holds or has held the following directorships or partnerships in the past five years:



Current Directorships or Partnerships


Previous Directorships or Partnerships














Muncaster Capital Limited


90 Ballater Road Management Company Limited



 
Mr Tonthat does not hold shares in the Company.
There is no further information to be disclosed pursuant to R.4.9 of the AQSE Growth Market Access Rulebook. 
Commenting on Mr Tonthat's appointment, Greencare Chairman, Nicholas Lee said: 
"I am pleased to welcome Richard to the Greencare Board. His transaction experience and investment advisory background, combined with direct experience of the international cannabis market will be of great benefit to the Company as we continue to build our investment portfolio."
"I would also like to take this opportunity to thank Fabio Carretta for his stewardship of the Company since its flotation in December 2019 and I am pleased that he will also be able to continue to support the Company whilst he focuses on his other business interests." 
Enquiries:
 



Greencare Capital plc
Nicholas Lee, Chairman
 


+44 (0)20 7933 8780




Cairn Financial Advisers LLP
AQSE Corporate Adviser
Jo Turner / James Lewis
 


+44 (0)20 7213 0885
 
 
 
 




Walbrook PR Limited
Paul Vann/Nicholas Johnson
 


+44 (0)20 7933 8780
+44 (0)7768 807631



Notes:
Greencare Capital plc is an investment company quoted on the Aquis Stock Exchange Growth Market ("AQSE"). The Company was incorporated on 1 October 2019 and its shares were admitted to trading on 30 December 2019.
 
The Company's investment strategy is to focus on investments in cannabis sectors within countries predominantly in Europe whose jurisdictions have well-developed and reputable laws and regulations for its production, research and distribution; together with the CBD and hemp sectors. 
 
The Company will invest directly or indirectly in public or private companies, in supply and distribution chains, or other business associated with the cannabis sector. Investments may take the form of debt or equity and it is expected that such investments will ordinarily seek capital growth in the medium term in preference to income.
 
The Company will not invest in the recreational cannabis sector, or in entities or activities supported by it, nor any other related activities which would be deemed illegal under UK legislation.
 

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