Kanabo Group Plc
("Kanabo" or the "Company")
Grant of Options
Kanabo Group Plc (LSE:KNB), the pan-European medical cannabis company that focuses on developing and commercialising cannabis-derived products for medical patients and wellness CBD consumers, announces the grant of two types of options over a total of 22,759,150 shares to certain employees, pursuant to their terms of employment.
options
| Name | No. of Options | Vested options as of today | Option Exercise Price | Vesting Period for non-vested options |
| Gil Efron )PDMR)
| 900,000 | - | 6.5p
| Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter
|
| 900,000 | - | 8.0p | ||
| Daniel Poulter (PDMR) | 900,000 | 600,000 | 6.5p
| Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter
|
| 900,000 | - | 8.0p | ||
| Other Employees | 6,927,200 | - | 8.0p | Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter |
| Other Employees | 6,927,200 | 2,000,000 | 6.5p | Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter. |
| Other Employees* | 975,527 | 162,588 | 10.15p | Options shall vest in 3 years on a quarterly basis |
| Other Employees* | 2,437,628 | 406,271 | 12.65p | Options shall vest in 3 years on a quarterly basis |
* These options replace options GP's employees had in GP. The options will only be exercisable in three years from date of acquisition and will be valid for 2 years from that date.
Options issued for past due debts
As part of the acquisition of The GP Service, the Company offset part of GP's payroll obligations for its various employees, from the overall consideration. The Company now reached an agreement with the employees to issue options in the Company in lieu of owed salaries.
The agreement states that in lieu of the £192,000 owed as salaries, the company will issue 1,891,595 options with an exercise price being at par. The number of options granted was calculated according to the transaction price of 12.65 pence less the company's nominal share value. The options will only be exercisable in two years from the date of issue [three years from date of acquisition] and will be valid for 3 years from that date.
For further information, please visit http://www.kanabogroup.com/ or contact the following:
| Kanabo Group Plc | |
| Avihu Tamir, CEO | Via Vox Markets |
| Peterhouse Capital Ltd | |
| Eran Zucker / Lauren Riley | Tel: +44 (0)20 7469 0930 |
| Vox Markets (Investor Relations) | |
| Kat Perez | KanaboGroup@voxmarkets.co.uk |
About Kanabo Group Plc
Kanabo Group Plc is creating a new standard in the medical cannabis industry to improve the well-being of millions of people around the world by providing a better alternative to the smoking of medicinal cannabis flowers. Kanabo, which was the first medicinal cannabis company to IPO on London Stock Exchange, has a focus on the distribution of cannabis-derived products for medical patients and non-THC products for CBD consumers. It has conducted extensive Research & Development to produce high-quality cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions. Kanabo sells a range of medical cannabis products and wellness CBD products in the Primary Markets, including its VapePod, which delivers a metered dose with every inhalation.
The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Gil Efron
| |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Non-Executive Director | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Kanabo Group Plc | |||
| b)
| LEI
| 213800XPJFSNWJIYKN52
| |||
| 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 of the financial instrument, type of instrument | Ordinary Shares | |||
| | | ||||
| Identification code | GB00BYQCS703 | ||||
| | | ||||
| b)
| Nature of the transaction
| Share Options | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 6.5p | 900,000 | | |
| | | 8.0p | 900,000 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A | ||||
| | | ||||
| - Price | N/A | ||||
| | | ||||
| e)
| Date of the transaction
| 21.3.2022 | |||
| f)
| Place of the transaction
| London Stock Exchange | |||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Daniel Poulter
| |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Non-Executive Director | |||
| b)
| Initial notification /Amendment
| Initial Notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a)
| Name
| Kanabo Group Plc | |||
| b)
| LEI
| 213800XPJFSNWJIYKN52
| |||
| 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 of the financial instrument, type of instrument | Ordinary Shares | |||
| | | ||||
| Identification code | GB00BYQCS703 | ||||
| | | ||||
| b)
| Nature of the transaction
| Share Options | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 6.5p | 900,000 | | |
| | | 8.0p | 900,000 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A | ||||
| | | ||||
| - Price | N/A | ||||
| | | ||||
| e)
| Date of the transaction
| 19.7.2021 | |||
| f)
| Place of the transaction
| London Stock Exchange | |||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
