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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Oxford Cannabinoid Technologies Holdings Plc | LSE:OCTP | London | Ordinary Share | GB00BMVMRB86 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.155 | 0.14 | 0.17 | 0.155 | 0.155 | 0.155 | 661,413 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Coml Physical, Biologcl Resh | 0 | -5.95M | -0.0062 | -0.24 | 1.44M |
TIDMOCTP
RNS Number : 0517A
Oxford Cannabinoid Tech.Holdings
31 January 2022
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or "the Company")
Board Changes
Oxford Cannabinoid Technologies Holdings plc, the pharmaceutical company developing prescription cannabinoid medicines for approval by global regulatory agencies and targeting the US$ multi-billion pain market, announces the following Board changes.
Richard Guy Hathaway has been appointed to the Board as a Non-Executive Director, as a representative of Imperial Brands Ventures Limited ("Imperial"), with effect from 1 February 2022. With agreement of OCTP, Imperial, a 10.87 per cent. shareholder of OCTP, nominated Mr Hathaway as its representative following the resignation of Bishrut Mukherjee from Imperial in September 2021. As announced on 18 January 2022, Bishrut Mukherjee remains on the Board of OCTP in his capacity as Non-Executive Director.
Mr Hathaway is the Corporate Development Director at Imperial Brands plc, the ultimate holding company of Imperial where he is responsible for leading M&A activity and other strategic initiatives and projects across the business. Prior to joining Imperial, he was a partner at KPMG LLP where he gained extensive experience of auditing and advising public and private companies across a wide range of sectors, including transactions such as financing and restructuring, acquisitions and disposals. He is a fellow of the ICAEW and holds an MA in Mathematics from the University of Oxford.
Further to the announcement of 5 November 2021, Julie Pomeroy, currently an independent Non-Executive Director, will assume the role of Non-Executive Chair with effect from 11 February 2022, at which time the current Executive Chairman, Mr Neil Mahapatra will step down but remain on the Board as a Non-Executive Director.
Commenting on the Board changes, OCTP Chief Executive John Lucas said:
"We are delighted to welcome Richard Hathaway to the Board as our new Non-Executive Director, where his own extensive financial and corporate experience will be of great benefit to the Company.
"The Board is very grateful to Julie for agreeing to step up to the role of Company Chair. Her PLC experience both in an executive and non-executive capacity will be invaluable as the business enters a key stage in its development, preparing to move into phase 1 clinical trials for our lead candidate OCT461201 and our inhaled cannabinoids programme, OCT130401, in Q1 2023 and Q4 2022, respectively. At the same time, we thank Neil as incumbent Chair, for his knowledge and guidance and look forward to continuing to work with him in his capacity as Non-Executive Director."
Disclosures regarding Richard Hathaway
Richard Hathaway, aged 55, has been a member of the administrative, management or supervisory bodies or partners of the following companies or partnerships within the last five years:
Active positions:
- Global Horizon Ventures Ltd - Imperial Brands Ventures Holdings Ltd - 1213509 B.C. Ltd - Imperial Brands Ventures Limited - Reemtsma-Kyrgyzstan OJSC - Compañia de Distribucion Integral Logista Holdings SA
Richard does not currently hold any shares in OCTP.
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 +44 (0)20 3034 2820 Holdings plc john@oxcantech.com Dr John Lucas (CEO) clarissa@oxcantech.com Clarissa Sowemimo-Coker (COO) Cairn Financial Advisers Emily Staples +44 (0)20 7213 0897 Jo Turner +44 (0) 20 7213 0885 Walbrook PR Limited +44 (0)20 7933 8780 Paul Vann +44 (0)7768 807631 Nicholas Johnson oxcantech@walbrookpr.com Harbor Access LLC +1 (203) 862 0492 Jonathan Paterson Richard.Leighton@harboraccessllc.com Richard Leighton
About Oxford Cannabinoid Technologies Holdings Plc :
Oxford Cannabinoid Technologies Holdings plc is the holding company of Oxford Cannabinoid Technologies Ltd, a pharmaceutical company developing prescription cannabinoid medicines for approval by key medicines regulatory agencies worldwide and targeting the U$ multi-billion pain market (together the "Group"). Cannabinoids are compounds found in the cannabis plant that have been shown to have a range of therapeutic effects on the body, including pain relief. The Group 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.
The Group's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities. The Group's lead compound, OCT461201, is a highly potent and selective CB2 agonist and is being developed by OCT in a solid oral dosage form. OCT is conducting pre-clinical testing and development with clinical trials scheduled for Q1 2023. The Group's product pipeline also uses a balanced drug product strategy that employs both natural and synthetic compounds for the treatment of rare diseases and includes chemically modified phytocannabinoids with improved drug-like characteristics and a proprietary library of cannabinoids.
OCTP operates a partnership model with external academic and commercial partners.
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January 31, 2022 01:59 ET (06:59 GMT)
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