29 September 2023
Oxford Cannabinoid Technologies Holdings plc
("OCTP", or the "Company")
Result of Annual General Meeting
Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP) the pharmaceutical company developing prescription cannabinoid medicines, announces that all resolutions set out in the notice of Annual General Meeting ("AGM") dated 5 September 2023 were passed at the AGM held at the offices of Penningtons Manches Cooper LLP, 125 Wood Street, EC2V 7AW on Thursday, 28 September 2023.
| | Resolution | For (including discretionary) | % | Against | % | Total | % of ISC voted | Withheld* |
| 1. | To receive and adopt the annual accounts and reports of the Company and the auditor's report on those accounts and reports for year ended 30 April 2023 | 317,413,248 | 98.53 | 4,742,806 | 1.47 | 322,156,054 | 33.54 | 196,542 |
| 2. | To receive and approve the Directors' remuneration report for year ended 30 April 2023 | 320,954,970 | 99.65 | 1,133,561 | 0.35 | 322,088,531 | 33.54 | 264,065 |
| 3. | To elect Paul Smalley as a Director of the Company | 321,217,951 | 99.71 | 944,695 | 0.29 | 322,162,646 | 33.54 | 189,950 |
| 4. | To re-elect Cheryl Dhillon as Director of the Company | 317,283,230 | 98.49 | 4,879,416 | 1.51 | 322,162,646 | 33.54 | 189,950 |
| 5. | To re-elect Indraneil Mahapatra as Director of the Company | 321,124,133 | 99.68 | 1,029,195 | 0.32 | 322,153,328 | 33.54 | 199,268 |
| 6. | To re-appoint Moore Kingston Smith LLP as auditors of the Company | 321,207,525 | 99.70 | 955,121 | 0.30 | 322,162,646 | 33.54 | 189,950 |
| 7. | To authorise the Directors to fix the remuneration of the auditors of the Company. | 321,150,540 | 99.69 | 1,010,083 | 0.31 | 322,160,623 | 33.54 | 191,973 |
| 8. | Creation of the Deferred Shares as a new class of shares. | 320,514,800 | 99.59 | 1,305,323 | 0.41 | 321,820,123 | 33.51 | 532,473 |
| 9. | Subdivision of the Company's issued share capital. | 320,433,836 | 99.57 | 1,391,623 | 0.43 | 321,825,459 | 33.51 | 527,137 |
| 10. | To authorise the Directors to allot ordinary shares and relevant securities, pursuant to Section 551 of the Companies Act 2006.** | 320,642,980 | 99.65 | 1,136,643 | 0.35 | 321,779,623 | 33.50 | 572,973 |
| 11. | To authorise the Directors to disapply pre-emption rights ** | 320,440,908 | 99.57 | 1,391,623 | 0.43 | 321,832,531 | 33.51 | 520,065 |
| 12. | That a general meeting other than an annual general meeting may be called on not less than 14 clear days' notice. | 321,158,929 | 99.69 | 1,006,625 | 0.31 | 322,165,554 | 33.54 | 187,042 |
| 13. | Amendment of Articles to cater for Deferred Shares. | 321,094,593 | 99.68 | 1,018,053 | 0.32 | 322,112,646 | 33.54 | 239,950 |
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) Rob Bennett (Company Secretary) |
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| Cairn Financial Advisers LLP | |
| Emily Staples | +44 (0)20 7213 0897 |
| Jo Turner
Axis Capital Markets Limited | +44 (0) 20 7213 0885 |
| 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")), with Phase I clinical trials, aimed at demonstrating safety and tolerability. Trial results are expected in Q3 2023. 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.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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