Cannabis Corporate Virus Spreads Across The Pond … Oxford Cannabinoid Technologies’ Shares Fall A Further 20% As Chairman Stands Down Following Market Rule Breach

CANNANNEW REPORT

Sad to see US market issues now hit the UK-listed cannabis world. Business Cann Report THE Chairman of a recently-listed UK pharmaceutically-focused cannabis company has stood down after a breach of market rules. Neil Mahapatra is a co-founder of the Oxford Cannabinoid Technologies (OCT) which floated on the LSE in the May this year, he is also founder of UK venture capital business Kingsley Capital Partners (KCP). KCP owns 198,466,493 OCT shares – just over 20% of the company – and agreed with OCT and its financial advisors States Bridge Capital and Cairn Financial Advisers that it would not dispose of any shares for one year after the flotation. Read full story Oxford Cannabinoid Technologies’ Shares Fall A Further 20% As Chairman Stands Down Following Market Rule Breach   London Stock Exchange Statement Director Dealing OXFORD CANNABINOID TECHNOLOGIES HOLDINGS PLC Released 07:00:14 01 November 2021 RNS Number : 8293Q Oxford Cannabinoid Tech.Holdings 01 November 2021 1 November 2021 Oxford Cannabinoid Technologies Holdings plc Director Dealing Oxford Cannabinoid Technologies Holdings plc (“the Company”), announces that on 29 October 2021, the Directors of the Company (other than Indraneil (Neil) Mahapatra, the Executive Chairman of the Company) were informed by Kingsley Capital Partners LLP (“KCP”) (a limited liability partnership in which Neil Mahapatra has a beneficial interest in up to 54.3 per cent. and who also controls 100 per cent. of the voting rights of KCP in the Company) that on 1 July 2021, KCP was offered a facility of £1,000,000 by Brown Shipley & Co Limited (“Brown Shipley”) by way of an overdraft (the “Facility”). The Facility was accepted by KCP on 12 July 2021. As security for the Facility, five members of KCP (the “Guarantors”) provided personal deeds of guarantee (each limited to £200,000) alongside a legal charge granted in favour of Brown Shipley dated 31 August 2021 (the “Charge”) over…

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Source : Cannabis Corporate Virus Spreads Across The Pond … Oxford Cannabinoid Technologies’ Shares Fall A Further 20% As Chairman Stands Down Following Market Rule Breach

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