Grant of Warrants and Extension of Exercise Period

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 £0.001 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 £0.01 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 Chief Executive Neil Thapar Investor Relations	[phone] [phone]
Tennyson Securities
Corporate Broker Peter Krens	[phone]
Novum Securities
Corporate Broker Colin Rowbury Jon Belliss	[phone]
Tancredi Intelligent Communication
Media Relations Helen Humphrey Edward Daly Salamander Davoudi [e-mail]	[phone] [phone] [phone]

 

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