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DJ Ananda Developments Plc Result of General Meeting and Appointment of a Director

 
TIDMANA 
 
10 June 2019 
 
                            ANANDA DEVELOPMENTS PLC 
 
                          ("Ananda" or the "Company") 
 
            Result of General Meeting and Appointment of a Director 
 
The Directors of Ananda Developments PLC are pleased to announce that, at the 
General Meeting of the Company held today, the resolutions to adopt the Amended 
Investment Strategy, to approve the acquisition of Tiamat Agriculture Limited 
and to approve the waiver by the Panel on Takeovers and Mergers of the 
obligations which would otherwise arise on the Concert Party (as defined in the 
circular to shareholder of the Company dated 24 May 2019 (the "Circular")) to 
make a general offer under Rule 9 of the Takeover Code, were duly passed. 
 
Accordingly, the Acquisition has been completed. The subscription by URA 
Holdings Plc for 88,888,888 Ordinary Shares, at a price of 0.45p per share, to 
raise GBP400,000 (before expenses) for the Company, will complete on, 11 June 
2019, when trading in the Subscription Shares commences on the NEX Exchange 
Growth Market. As set out in the Circular, Peter Redmond will be appointed as a 
non-executive Director of the Company on completion of the Subscription. 
 
Melissa Sturgess, Chief Executive Officer of Ananda, said: "Today's approvals 
give Ananda an opportunity to become a significant grower of cannabis in the UK 
and to play a key role in the rapidly developing sectors for medicinal and 
wellness products derived from cannabis. We believe that the increasing 
research being done on cannabis and its constituents has the potential to 
provide new and effective treatments for patients with a variety of 
conditions". 
 
Concert Party Interests 
 
On completion of the Subscription, URA will be interested in 88,888,888 
Ordinary Shares representing 21.26 per cent of the Company's issued share 
capital as enlarged by the Subscription and the Concert Party will be 
interested, in aggregate, in 167,701,110 Ordinary Shares, representing 40.12 
per cent of the Company's issued share capital as enlarged by the Subscription. 
 
The table below illustrates the maximum potential interest of the Concert Party 
in the voting rights of the Company: 
 
Concert Party    Current     Founder   Subscription  Contingent   Exercise of    Maximum       Maximum 
    Member     holding of   Warrants     Warrants   Consideration   Options    interest in   percentage 
                Ordinary                               Shares                   Ordinary     interest in 
                 Shares                                                          Shares     voting rights 
                                                                                following     following 
                                                                               exercise of   exercise of 
                                                                               the Founder   the Founder 
                                                                                Warrants,     Warrants, 
                                                                               exercise of   exercise of 
                                                                                   the           the 
                                                                              Subscription  Subscription 
                                                                              Warrants, the Warrants, the 
                                                                              issue of the  issue of the 
                                                                               Contingent    Contingent 
                                                                              Consideration Consideration 
                                                                               Shares and    Shares and 
                                                                               exercise of   exercise of 
                                                                                 Options       Options 
 
Charles Morgan 
               22,500,000  23,041,666       -        100,000,000       -       145,541,666     19.06% 
 
Melissa 
Sturgess*      46,612,222  23,041,666       -        100,000,000       -       169,653,888     22.22% 
 
Jeremy 
Sturgess-Smith  1,700,000       -           -             -       10,451,389   12,151,389       1.59% 
 
Peter 
Redmond         5,000,000       -           -             -            -        5,000,000       0.65% 
 
Alex 
Gostevskikh         -           -           -             -            -            -             - 
 
Michael 
Langoulant      3,000,000       -           -             -            -        3,000,000       0.39% 
 
URA            88,888,888       -       88,888,888        -            -       177,777,776     23.29% 
 
TOTAL HOLDING 
OF 
CONCERT PARTY  167,701,110 46,083,332   88,888,888   200,000,000  10,451,389   513,124,719     67.21% 
 
TOTAL SHARES 
IN ISSUE       418,055,554 464,138,886 553,027,774   753,027,774  763,479,163  763,479,163 
 
*of the 46,612,222 Ordinary Shares held by Melissa Sturgess, 22,222,222 are 
held in the name of Palace Trading Investments Limited and 1,090,000 are held 
in the name of Hartford Corporate Limited, companies which are both 
beneficially owned by Melissa Sturgess 
 
On completion of the Subscription, the Company's issued share capital will 
comprise 418,055,554 Ordinary Shares. The figure of 418,055,554 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 to their interest in, the share capital of the Company 
under the Financial Conduct Authority's Disclosure and Transparency Rules. 
 
Words and expressions defined in the Circular have the same meaning in this 
announcement.  A copy of the full text of the Circular is available at 
www.anandadevelopments.com. 
 
                                    -Ends- 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
ANANDA DEVELOPMENTS PLC                                 +44 (0)7392 696 517 
                                                  ir@anandadevelopments.com 
Chief Executive Officer 
Melissa Sturgess 
 
Investor Relations 
Jeremy Sturgess-Smith 
 
PETERHOUSE CAPITAL LIMTED                               +44 (0)20 7469 0930 
 
Corporate Finance 
Mark Anwyl 
Fungai Ndoro 
 
Corporate Broking 
Lucy Williams 
Duncan Vasey 
 
About Ananda Developments PLC 
 
Ananda Developments invests in the developing market for medical or therapeutic 
Cannabis derivatives, or related products, including but not limited to 
nutraceuticals, dietary supplements and cosmetic products which contain 
Cannabis or hemp derived cannabinoids. The Directors believe that this market 
is growing due to an increasing number of states in the USA, as well as other 
countries around the world, changing their laws to allow for products 
containing constituents of Medical Cannabis to be developed, approved and sold. 
 
A copy of the Company's Admission Document is available at 
www.anandadevelopments.com. 
 
Ananda's investment strategy is to invest in companies, projects or products 
that are progressing medical or therapeutic Cannabis research and development, 
or seeking to produce or cultivate Cannabis in any jurisdiction in which it is 
legal to do so, or are developing or have already developed, products that 
contain Cannabis derived cannabinoids and require funding to progress work 
plans or commercialise products. 
 
Market Abuse Regulation (MAR) Disclosure 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulation 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

June 10, 2019 06:30 ET (10:30 GMT)