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DJ Sativa Group PLC Management Incentive Plan

TIDMSATI

RNS Number : 8934O

Sativa Group PLC

04 June 2020

T he information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Sativa Group Plc

("Sativa" or the "Company" or the "Group")

Management Incentive Plan ("MIP")

4 June 2020

Sativa Group Plc (AQSE: SATI), (or "Sativa" or "the Company" or "the Group"), the UK's leading quoted CBD wellness and medicinal cannabis company, is pleased to announce the implementation of a new management incentive plan ("MIP") to retain and incentivise Henry Lees-Buckley, Chief Executive Officer, and to replace the existing options held by certain Directors of Sativa.

Directors will be entitled to exchange their existing options for an equivalent award consisting of Value Capped Options and MIP Shares.

Such options, which currently subsist over a specific number of Ordinary Shares in the Company, will be exchanged for MIP Shares and/or Value Capped Options which relate to the same number of Sativa shares.

The MIP Shares and the Value Capped Options will, together, deliver the same gross value to the holders of the existing options.

The MIP Shares and Value Capped Options are non-dilutive, as the number of Ordinary Shares which may be issued pursuant to the exchange of the MIP Shares and the exercise of the Value Capped Options shall never exceed the number of Ordinary Shares subject to the options foregone in exchange for the MIP Shares and Value Capped Options.

As part of this implementation, Geremy Thomas, the founder and Non-executive Deputy Chairman, will surrender options over 30,000,000 shares to the Company, otherwise exercisable at a price of 0.5p per share, which had been granted to him on the Company's admission to trading on the AQSE Growth Market. The Company will award 30,000,000 Value Capped Options and MIP Shares, to Henry Lees-Buckley, CEO.

After the surrender of options detailed above, Geremy Thomas, Mark Blower and Angus Kerr will exchange their existing options, for Value Capped Options and MIP Shares.

The Value Capped Options and MIP Shares vest immediately, and upon the successful acquisition of Sativa Group Plc by Stillcanna Inc, subject to shareholder approval of the scheme of arrangement, will be locked-in for three years under Escrow, upon the scheme becoming effective.

Following the grant of MIP set out above, the number and percentage of existing options to be exchanged for Value Capped Options and MIP Shares is unchanged at 78,423,074 and 14% of the current issued share capital.

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

 
Jonathan Wearing                      Joseph Colliver 
 Non-Executive Chairman                Chief Financial Officer 
 Sativa Group Plc                      Sativa Group Plc 
 +44 (0) 20 7971 1255                  +44 (0) 20 7971 1255 
 enquiries@sativagroup.co.uk           enquiries@sativagroup.co.uk 
 www.sativagroup.co.uk                 www.sativagroup.co.uk 
AQSE Growth Market Corporate 
 Adviser 
 Corporate Finance 
 Guy Miller/Allie Feuerlein 
 Peterhouse Capital Limited 
 +44 (0) 20 7220 9795 
 
                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                          Henry Lees-Buckley 
        ----------------------------  ------------------------------------------------------ 
 2       Reason for the notification 
        ------------------------------------------------------------------------------------ 
 a/)     Position/status               Chief Executive officer (Chief Executive Officer, 
                                        Sativa Group PLC) 
        ----------------------------  ------------------------------------------------------ 
 /b)     Initial notification          Initial notification 
          /Amendment 
        ----------------------------  ------------------------------------------------------ 
 3       Details of the issuer, emission allowance market participant, 
          auction platform, auctioneer or auction monitor 
        ------------------------------------------------------------------------------------ 
 a)      Name                           Sativa Group Plc 
        ----------------------------  ------------------------------------------------------ 
 b)      LEI                           213800UBHKVCNXTZEZ74 
        ----------------------------  ------------------------------------------------------ 
 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 0.25p each 
          of the financial 
          instrument,                   ISIN: GB00BFX17474 
          type of instrument 
          Identification 
          code 
        ----------------------------  ------------------------------------------------------ 
 b)      Nature of                     Grant of MIP Shares and Value Capped Options 
          the transaction 
        ----------------------------  ------------------------------------------------------ 
 c)      Price(s) and 
          volume(s)                      30,000,000 at an exercise price of 0.5p (GBP0.05) 
        ----------------------------  ------------------------------------------------------ 
 d)      Aggregated 
          information 
          - Aggregated 
          volume 
          - Price 
        ----------------------------  ------------------------------------------------------ 
 e)      Date of the                   03 June 2020 
          transaction 
        ----------------------------  ------------------------------------------------------ 
 f)      Place of the                  AQSE Growth Market 
          transaction 
        ----------------------------  ------------------------------------------------------ 
 

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June 04, 2020 02:00 ET (06:00 GMT)