Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Director Dealing
Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP), the pharmaceutical company developing prescription cannabinoid medicines, announces that it has been informed that Kingsley Capital Partners LLP ("KCP"), has sold 54,864,286 ordinary shares of £0.01 each in the issued share capital of the Company of which 20,457,483 were acquired by Neil Mahapatra in his own name. Neil Mahapatra, the Managing Partner of KCP, (through his beneficial interest in up to 54.3 per cent. of KCP's shareholding in the Company) controls the exercise of 100 per cent. of KCP's voting rights in OCT.
The PDMR form of Neil Mahapatra is set out below.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
The Directors of the Company accept responsibility for the content of this announcement.
Enquiries:
| Oxford Cannabinoid Technologies Holdings plc | +44 (0)20 3034 2820 |
| Clarissa Sowemimo-Coker (CEO) | clarissa@oxcantech.com |
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| Cairn Financial Advisers LLP | |
| Emily Staples | +44 (0)20 7213 0897 |
| Jo Turner | +44 (0) 20 7213 0885 |
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| Axis Capital Markets Limited | |
| Richard Hutchison | +44 (0)20 3026 0320 |
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| Acuitas Communications | 020 3745 0293 / 07799 767676 |
| Simon Nayyar | simon.nayyar@acuitascomms.com |
| Arthur Dingemans | arthur.dingemans@acuitascomms.com |
About Oxford Cannabinoid Technologies Holdings Plc:
Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company of Oxford Cannabinoid Technologies Ltd (together the "Group"), a pharmaceutical Group developing prescription cannabinoid medicines initially targeting the U$ multi-billion global pain market.
OCTP currently has a portfolio of four drug development programmes. Its lead compound, OCT461201, will initially target neuropathic and visceral pain (including irritable bowel syndrome ("IBS") and chemotherapy induced peripheral neuropathy ("CIPN")) Dosing of all the cohorts of the Phase I, single ascending dose study for OCT461201 has been successfully completed. No safety or tolerability concerns were exhibited with any dose tested. As a result, OCTP is satisfied that it is safe to proceed to the next stage of clinical development of its lead compound. The global market for CIPN alone is currently forecast to reach US$1.17bn by 2028.
OCTP's drug development pipeline comprises both natural and synthetic compounds, and includes compounds targeting trigeminal neuralgia, a severe type of face pain, and cannabinoid derivatives targeting pain and potentially other therapeutic areas. Having established an exclusive license agreement with Canopy Growth Corporation for their entire pharmaceutical cannabinoid derivative library, OCTP now has a portfolio of almost five hundred derivatives and intellectual property rights including fourteen patent families and associated research data.
OCTP has a clearly defined path to commercialisation, revenues and growth. The Group is developing drug candidates through clinical trials to gain regulatory approval (FDA/MHRA/EMA) that will enable medical professionals to prescribe them with confidence. OCTP's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities.
| Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a. | Name | Indraneil Mahapatra | ||||||
| 2 | Reason for notification |
| ||||||
| a. | Position/Status | NED of Oxford Cannabinoid Technologies Holdings PLC ("OCT") | ||||||
| b. | Initial notification/ Amendment | Initial notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a. | Name | Oxford Cannabinoid Technologies Holdings plc | ||||||
| b. | LEI | 2138005SRWT4998BCE35 | ||||||
| 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 | Oxford Cannabinoid Technologies Holdings PLC Ordinary shares of £0.01 each GB00BMVMRB86 | ||||||
| b. | Nature of the transaction | Prior to the transaction, being the subject of this disclosures. Kingsley Capital Partners LLP ("KCP") held 198,466,493 ordinary shares of £0.01 each in the issued share capital of OCT ("Ordinary Shares"). Indraneil Mahapatra, the Managing Partner of KCP, (through his beneficial interest in up to 54.3 per cent. of KCP's shareholding in the Company) controls the exercise of 100 per cent. of KCP's voting rights in OCT. Therefore, prior to this disclosure the holding of Indraneil Mahapatra in OCT comprised a total of 199,355,382 Ordinary Shares, being 198,466,493 Ordinary Shares held by KCP and 888,889 Ordinary Shares held by Rachel Matharu (Neil Mahapatra's wife).
KCP has now reduced its holding in Ordinary Shares by 54,864,286 Ordinary Shares of which 20,457,483 Ordinary Shares were acquired by Indraneil Mahapatra in his own name.
The resulting position is as follows:
(a) KCP holds 143,602,208 Ordinary Shares of which Indraneil Mahapatra retains 100% of the voting rights; and (b) Indraneil Mahapatra holds 20,457,483 Ordinary Shares in his own name and 888,889 Ordinary Shares held by Rachel Matharu (Indraneil Mahapatra's wife).
Indraneil Mahaptra therefore has voting rights over a total of 164,948,580 Ordinary Shares which represents approximately 17.17% of the issued share capital of OCT.
| ||||||
| c. | Price(s) and volume(s) | | | | | | ||
| | Price(s) | Volume(s) | | |||||
| £0.0081 | 54,864,286 (KCP disposal) |
| ||||||
| | £0.0081 | 20,457,483 (Indraneil Mahapatra acquisition) | | |||||
| | ||||||||
| d. | Aggregated information
- Aggregated Volume
- Price | · Disposal of 54,864,286 Ordinary Shares by KCP @ £0.0081 per Ordinary Share · Acquisition of 20,457,483 Ordinary Shares by Neil Mahapatra @ £0.0081 per share | ||||||
| e. | Date of the transaction | 18th October 2023 | ||||||
| f. | Place of the transaction | London | ||||||
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