Ananda Developments PLC Graduation to Apex segment of AQSE Growth Market

RNS Number : 0417Z

Ananda Developments PLC

05 August 2024

 

5 August 2024

 

ANANDA DEVELOPMENTS PLC 

("Ananda" or the "Company") 

 

Graduation to Apex segment of the AQSE Growth Market

Ananda Developments plc (AQSE: ANA) a life sciences company focused on the research and clinical development of CBD-based therapies for a range of complex inflammatory pain conditions is pleased to announce that trading in its ordinary shares, effective from 8a.m. today (5^th August), will move to the senior Apex segment of the Aquis Stock Exchange ("AQSE") Growth Market.

The Apex segment is reserved for larger, more established businesses with a proven growth strategy and which meet higher standards of corporate governance. The Apex segment has stricter eligibility criteria than the Access segment which include, inter alia, having:

·    a minimum market capitalisation of £10 million;

·    at least 25% of shares in public hands;

·    a minimum of two Independent Non-executive directors;

·    a minimum of two market makers;

·    a two-year consolidated trading history; and

·    maintaining compliance with the QCA Code or the FRC's UK Corporate Governance Code.

These enhanced criteria encourage greater liquidity within the top tier of the AQSE Growth Market and allow for simplified dual-listing on multiple qualifying growth markets such as OTCQB in New York and the Frankfurt Stock Exchange.

Commenting on the admission of the Company's shares to the Apex segment Melissa Sturgess, CEO, said: "We are delighted to qualify for the top tier of trading on the Aquis Stock Exchange Growth Market.

"The move to the Apex segment is recognition of the commitment of the team to evolve Ananda into a sophisticated life sciences company, with a clear strategy and promising results. Apex provides even further visibility for investors, and we welcome the increased emphasis on transparency, liquidity and corporate governance which aligns entirely with our own internal ideals.

"I'd like to thank the Aquis Exchange for the excellent support offered to Ananda since our IPO and that the team there continues to be proactive in their encouragement and initiatives in promoting our corporate progress. As an Exchange they champion growth stocks. We look forward to all that the Apex segment can offer to our investors."

Alasdair Haynes, CEO, Aquis Exchange PLC said: "We are delighted to see Ananda move up to the Apex segment of the Aquis Stock Exchange Growth Market. It's fantastic to see how the company has progressed so far, and I am proud that Aquis can offer a tailored experience for growth companies that allows for increased exposure to investors at appropriate stages."

Ends

 

To stay abreast of the latest developments at Ananda, we encourage you to follow our social media channels which are:  

  

·              Investor Hub: investors.anandadevelopments.com

·              Instagram: https://instagram.com/anandadevelopments?igshid=YmMyMTA2M2Y=   

·              LinkedIn: https://www.linkedin.com/company/anadevelopments/   

·              Twitter: https://twitter.com/AnandaPlc

·              Investor Meet Company: https://www.investormeetcompany.com/ananda-developments-plc/register-investor

  

-Ends-  

  

The Directors of the Company accept responsibility for the contents of this announcement.  

  

ANANDA DEVELOPMENTS PLC	[phone]
	[e-mail]
Chief Executive Officer
Melissa Sturgess
Finance Director
Jeremy Sturgess-Smith
SP ANGEL CORPORATE FINANCE LLP	[phone]
Corporate Finance
Richard Morrison
Caroline Rowe
Corporate Broking
Abigail Wayne
Rob Rees

 

 

About Ananda Developments  

  

Ananda is an AQSE-listed company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of complex, chronic inflammatory pain conditions. For more information, please visit: https://anandadevelopments.com

   

Market Abuse Regulation (MAR) Disclosure  

  

The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.  

 

https://investors.anandadevelopments.com/link/vPnO9y

 

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