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DJ World High Life PLC Grant of Options

TIDMLIFE

RNS Number : 4209E

World High Life PLC

28 February 2020

28 February 2020

World High Life Plc

("World High Life" or the "Company")

Grant of Options, Issue of Convertible Loan Notes and Equity; and Director/PDMR Shareholdings

Grant of Options

World High Life Plc (NEX: LIFE) announces that the Board has granted options ("Share Options") over an aggregate of 2,550,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares") to a number of Directors, employees and consultants. The Share Options provide equity-based incentives and rewards for key members of the World High Life team whilst also enabling the Company to retain the top talent who will be responsible for delivering growth at the Company.

The Share Options all have an exercise price of 128 p per share, being 120 per cent. of the average closing price of the Ordinary Shares on the 3 trading days prior to the grant date on 27 February 2020 (the "Grant Date"). The Share Options may be exercised at any time six months after the Grant Date and not later than the fifth anniversary of the Grant Date, subject to continued employment.

Options have been granted to Directors as follows:

 
 Director          Number of Share Options granted 
 David Stadnyk                 600,000 
                  -------------------------------- 
 Robert Payment                125,000 
                  -------------------------------- 
 Andrew Male                   125,000 
                  -------------------------------- 
 Kevin Ernst                   75,000 
                  -------------------------------- 
 Charles Lamb                  75,000 
                  -------------------------------- 
 

Placement of Convertible Loan Notes

The Board is also pleased to announce the placement of unsecured convertible loan notes ("Convertible Loan Notes") which has raised approximately GBP2,355,782 (before expenses). The Convertible Loan Notes will pay interest at the rate of 10% per annum and are convertible into Ordinary Shares at any time at the election of the holder at a price of 100p per share ("Conversion Price"). The Convertible Loan Notes will mature by 29 November 2021and the Company reserves the right to repay interest owing at the maturity date in cash or through the conversion into Ordinary Shares at the Conversion Price. Each of the Convertible Loan Notes were also issued with 2,355,782 accompanying warrants ("Convertible Loan Notes Warrants") which shall also expire by 29 November 2021 and may be exercised at an exercise price of 150p per Ordinary Share. Provision was made within the Convertible Loan Notes for an adjustment to be made to the conversion terms if the Company undertakes a capital reorganisation, such as a share consolidation.

The proceeds from the issue of Convertible Loan Notes and the subscription for Ordinary Shares referred to below will be used by the Company for general working capital purposes.

Issue of Ordinary Shares

The Board has also issued 81,468 Ordinary Shares (the "Subscription Shares") to a number of subscribers ("Subscribers") at a subscription price of 100 pence per Ordinary Share. The Subscribers also received 1 warrant for every 2 Ordinary Shares subscribed for, amounting in aggregate to 40,734 warrants ("Warrants"). The Warrants may be exercised at any time until 21 November 2021 at an exercise price of 200p per Ordinary Share.

Application has been made for the Subscription Shares to be admitted to trading on the NEX Exchange Growth Market and admission is expected to become effective on 4 March 2020.

Following the issue of the Subscription Shares, the Company has 14,240,908 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 14,240,908 should 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 Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Following the issue of the Share Options, the Convertible Loan Notes Warrants and the Warrants, there will be options outstanding over a total of 2,550,000 Ordinary Shares, representing approximately 18 per cent. of the current issued share capital of the Company, as well as warrants to subscribe for 3,326,295 Ordinary Shares in the Company, representing a further 23.4 per cent. of the current issued share capital of the Company.

The Directors of the Company accept responsibility for the contents of this announcement.

About Love Hemp

Love Hemp is one of the UK's leading CBD and Hemp product suppliers and has more than 40 product lines, comprising oils, sprays and vapes and a variety of edible and water-based CBD products. Love Hemp has established relationships with over 1,200 stores in the UK, including leading brands such as Ocado, Holland & Barrett and WH Smith.

About World High Life

World High Life was established by the founders of Supreme Cannabis (TSX: FIRE), and 1933 Industries (CSE: TGIF), both companies at the forefront of the legalized cannabis industry. LIFE was established to take advantage of the huge opportunities available in the UK and European legal cannabis space, which is set to be the largest in the world within five years.

For further information please contact:

 
David Stadnyk 
 Founder & CEO 
 World High Life PLC 
 +44 (0) 7926 397 675 
 info@worldhighlife.uk 
 
NEX Exchange Corporate Adviser  Financial PR 
 Mark Anwyl/Allie Feuerlein      Camilla Horsfall/Megan Ray 
 Peterhouse Capital Limited      Blytheweigh 
 +44 (0) 20 7469 0930            +44 (0) 20 7138 3224 
 ma@peterhousecap.com            Camilla.horsfall@blytheweigh.com 
 af@peterhousecap.com            Megan.Ray@blytheweigh.com 
 
   For more information on World High Life please visit:      www.wordhighlife.uk 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
         Notification and public disclosure of transactions by persons 
           discharging managerial responsibilities and persons closely 
                              associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     -------------------------------------------------------------------------- 
 a)   Name                              David Stadnyk 
     ---------------------  --------------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------------- 
 a)   Position/status                   Director / Chairman 
     ---------------------  --------------------------------------------------- 
 b)   Initial notification   Initial Notification 
       /Amendment 
     ---------------------  --------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                    World High Life Plc 
     ---------------------  --------------------------------------------------- 
 b)   LEI                    213800ERYVHIGFSPMM75 
     ---------------------  --------------------------------------------------- 
 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            Ordinary Shares of 10pence each 
       of the financial 
       instrument,            ISIN: GB00BK26FQ62 
       type of instrument 
       Identification 
       code 
     ---------------------  --------------------------------------------------- 
 b)   Nature of              Grant of Options 
       the transaction 
     ---------------------  --------------------------------------------------- 
 c)   Price(s) and           Exercise Price (p) 128p per share 
       volume(s) 
                              Number of share options: 600,000 
     ---------------------  --------------------------------------------------- 
 d)   Aggregated              Grant of 600,000 options to acquire shares 
       information             at 128p per share at an aggregate exercise price 
       - Aggregated            of GBP768,000 
       volume 
       - Price 
     ---------------------  --------------------------------------------------- 
 e)   Date of the            27 February 2020 
       transaction 
     ---------------------  --------------------------------------------------- 
 f)   Place of the           NEX Exchange Growth Market (NEXG) 
       transaction 
     ---------------------  --------------------------------------------------- 
 
 
         Notification and public disclosure of transactions by persons 
           discharging managerial responsibilities and persons closely 
                              associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     -------------------------------------------------------------------------- 
 a)   Name                              Robert Payment 
     ---------------------  --------------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------------- 
 a)   Position/status                   Director / CFO 
     ---------------------  --------------------------------------------------- 
 b)   Initial notification   Initial Notification 
       /Amendment 
     ---------------------  --------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 

(MORE TO FOLLOW) Dow Jones Newswires

February 28, 2020 02:00 ET (07:00 GMT)

DJ World High Life PLC Grant of Options -2-

     -------------------------------------------------------------------------- 
 a)   Name                    World High Life Plc 
     ---------------------  --------------------------------------------------- 
 b)   LEI                    213800ERYVHIGFSPMM75 
     ---------------------  --------------------------------------------------- 
 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            Ordinary Shares of 10pence each 
       of the financial 
       instrument,            ISIN: GB00BK26FQ62 
       type of instrument 
       Identification 
       code 
     ---------------------  --------------------------------------------------- 
 b)   Nature of              Grant of Options 
       the transaction 
     ---------------------  --------------------------------------------------- 
 c)   Price(s) and           Exercise Price (p) 128p per share 
       volume(s) 
                              Number of share options: 125,000 
     ---------------------  --------------------------------------------------- 
 d)   Aggregated              Grant of 125,000 options to acquire shares 
       information             at 128p per share at an aggregate exercise price 
       - Aggregated            of GBP160,000 
       volume 
       - Price 
     ---------------------  --------------------------------------------------- 
 e)   Date of the            27 February 2020 
       transaction 
     ---------------------  --------------------------------------------------- 
 f)   Place of the           NEX Exchange Growth Market (NEXG) 
       transaction 
     ---------------------  --------------------------------------------------- 
 
 
         Notification and public disclosure of transactions by persons 
           discharging managerial responsibilities and persons closely 
                              associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     -------------------------------------------------------------------------- 
 a)   Name                              Andrew Male 
     ---------------------  --------------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------------- 
 a)   Position/status                   Executive Director 
     ---------------------  --------------------------------------------------- 
 b)   Initial notification   Initial Notification 
       /Amendment 
     ---------------------  --------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                    World High Life Plc 
     ---------------------  --------------------------------------------------- 
 b)   LEI                    213800ERYVHIGFSPMM75 
     ---------------------  --------------------------------------------------- 
 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            Ordinary Shares of 10pence each 
       of the financial 
       instrument,            ISIN: GB00BK26FQ62 
       type of instrument 
       Identification 
       code 
     ---------------------  --------------------------------------------------- 
 b)   Nature of              Grant of Options 
       the transaction 
     ---------------------  --------------------------------------------------- 
 c)   Price(s) and           Exercise Price (p) 128p per share 
       volume(s) 
                              Number of share options: 125,000 
     ---------------------  --------------------------------------------------- 
 d)   Aggregated              Grant of 125,000 options to acquire shares 
       information             at 128p per share at an aggregate exercise price 
       - Aggregated            of GBP160,000 
       volume 
       - Price 
     ---------------------  --------------------------------------------------- 
 e)   Date of the            27 February 2020 
       transaction 
     ---------------------  --------------------------------------------------- 
 f)   Place of the           NEX Exchange Growth Market (NEXG) 
       transaction 
     ---------------------  --------------------------------------------------- 
 
 
        Notification and public disclosure of transactions by persons 
         discharging managerial responsibilities and persons closely 
                            associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     ----------------------------------------------------------------------- 
 a)   Name                              Kevin Ernst 
     ---------------------  ------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                   Non Executive Director 
     ---------------------  ------------------------------------------------ 
 b)   Initial notification   Initial Notification 
       /Amendment 
     ---------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                    World High Life Plc 
     ---------------------  ------------------------------------------------ 
 b)   LEI                    213800ERYVHIGFSPMM75 
     ---------------------  ------------------------------------------------ 
 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            Ordinary Shares of 10pence each 
       of the financial 
       instrument,            ISIN: GB00BK26FQ62 
       type of instrument 
       Identification 
       code 
     ---------------------  ------------------------------------------------ 
 b)   Nature of              Grant of Options 
       the transaction 
     ---------------------  ------------------------------------------------ 
 c)   Price(s) and           Exercise Price (p) 128p per share 
       volume(s) 
                              Number of share options: 75,000 
     ---------------------  ------------------------------------------------ 
 d)   Aggregated              Grant of 75,000 options to acquire shares at 
       information             128p per share at an aggregate exercise price 
       - Aggregated            of GBP96,000 
       volume 
       - Price 
     ---------------------  ------------------------------------------------ 
 e)   Date of the            27 February 2020 
       transaction 
     ---------------------  ------------------------------------------------ 
 f)   Place of the           NEX Exchange Growth Market (NEXG) 
       transaction 
     ---------------------  ------------------------------------------------ 
 
 
        Notification and public disclosure of transactions by persons 
         discharging managerial responsibilities and persons closely 
                            associated with them. 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
     ----------------------------------------------------------------------- 
 a)   Name                              Charles Lamb 
     ---------------------  ------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                   Non Executive Independent Director 
     ---------------------  ------------------------------------------------ 
 b)   Initial notification   Initial Notification 
       /Amendment 
     ---------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                    World High Life Plc 
     ---------------------  ------------------------------------------------ 
 b)   LEI                    213800ERYVHIGFSPMM75 
     ---------------------  ------------------------------------------------ 
 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            Ordinary Shares of 10pence each 
       of the financial 
       instrument,            ISIN: GB00BK26FQ62 
       type of instrument 
       Identification 
       code 
     ---------------------  ------------------------------------------------ 
 b)   Nature of              Grant of Options 
       the transaction 
     ---------------------  ------------------------------------------------ 
 c)   Price(s) and           Exercise Price (p) 128p per share 
       volume(s) 
                              Number of share options: 75,000 

(MORE TO FOLLOW) Dow Jones Newswires

February 28, 2020 02:00 ET (07:00 GMT)

DJ World High Life PLC Grant of Options -3-

     ---------------------  ------------------------------------------------ 
 d)   Aggregated              Grant of 75,000 options to acquire shares at 
       information             128p per share at an aggregate exercise price 
       - Aggregated            of GBP96,000 
       volume 
       - Price 
     ---------------------  ------------------------------------------------ 
 e)   Date of the            27 February 2020 
       transaction 
     ---------------------  ------------------------------------------------ 
 f)   Place of the           NEX Exchange Growth Market (NEXG) 
       transaction 
     ---------------------  ------------------------------------------------ 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

February 28, 2020 02:00 ET (07:00 GMT)