Cellular Goods PLC Grant of Warrants and Extension of Exercise Period (6850X)
May 06 2021 - 1:00AM
UK Regulatory
TIDMCBX
RNS Number : 6850X
Cellular Goods PLC
06 May 2021
Press Release
6 May 2021
Cellular Goods PLC
('Cellular Goods' or 'the Company')
Grant of Warrants and Extension of exercise period of
Warrants
Cellular Goods, a UK-based provider of premium consumer products
based on biosynthetic cannabinoids (LSE: CBX), announces that it
has granted certain warrants over ordinary shares of GBP0.001 each
in the capital of the Company (Ordinary Shares) to new members of
the Cellular Goods team, and has agreed to extend the exercise
period of certain previously granted warrants.
Granting of warrants
The Company is pleased to have secured the services of a Quality
Assurance Manager and a Lead Project Manager, each of whom will
have an important role in the Company's development and each of
whom is being granted warrants over 250,000 Ordinary Shares at the
average of the mid-market closing price for the five business days
prior to grant, being 8.13 pence per share.
The warrants have a total exercise period of three years, with
25% vesting after, respectively, 6, 12, 18 and 24 months. Any
shares acquired under the terms of the warrants must be held until
12 months from admission on 26 February 2021.
The Company is also pleased to have secured the services of a
skincare business adviser, who is being granted warrants in July
over 200,000 Ordinary Shares at the average of the mid-market
closing price for the five business days prior to grant.
These warrants have a total exercise period of three years,
vesting one year beyond an initial three-month advisory period
subject to continuing beyond that date.
Extension of warrants
The Company has agreed a 12-month extension to the exercise
period with holders of warrants over an aggregate of 6,500,000 new
Ordinary Shares at an exercise price of GBP0.01 per share. The
warrants are now exercisable for a period of three years from
admission of the Company's shares to the Official List and to
trading on the London Stock Exchange's Main Market (Admission),
however the warrant holders have agreed not to exercise the
warrants within 12 months of Admission.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For further information, please contact:
Cellular Goods
Alexis Abraham +44 20 7031 6871
Chief Executive
Neil Thapar
Investor Relations +44 7876 455323
-------------------
Tennyson Securities
-------------------
Corporate Broker
Peter Krens +44 20 7186 9030
-------------------
Novum Securities
-------------------
Corporate Broker
Colin Rowbury
Jon Belliss +44 20 7399 9427
-------------------
Tancredi Intelligent Communication
-------------------
Media Relations
Helen Humphrey
Edward Daly +44 7449 226720
Salamander Davoudi +44 7954 292488
cellulargoods@tancredigroup.com +44 7957 549906
-------------------
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END
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