Results of Shareholder’s General Meeting

MGC Pharmaceuticals Limited

25 October 2023

 

MGC Pharmaceuticals Ltd.

Results of Shareholder's General Meeting

25 October 2023

ASX, LSE: MXC

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') would like to announce the voting results from the Company's General Meeting of shareholders, held today Wednesday, 25 October 2023.

The Company advises that all motions put to the meeting were voted by poll, with all resolutions carried.

Details of the results can be found in the following URL:

https://www.investi.com.au/api/announcements/mxc/a32848fb-715.pdf

As a result of Resolution 1 having been passed at the General Meeting, shareholders have approved the reduction in the number of ordinary shares by way of a consolidation on the basis of 1,000 ordinary shares into one new ordinary share ('New Ordinary Share') (collectively, the 'Consolidation').

For Depositary Interests ('DIs'), which represent ordinary shares of the Company ('Shares'), and which are traded on the Main Market of London Stock Exchange plc, the proposed timetable for the DI consolidation will be as follows:

Shareholders' Approval Granted to Proceed with Consolidation of Capital	25 October 2023
Last Day Trading in Existing Dis, Representing Unconsolidated Shares	27 October 2023
Suspension Of Admission to Trading on London Stock Exchange (7.30am)	30 October 2023
Consolidation record date	31 October 2023
Ex Date and Restoration of Dealings in the DIs, now Representing Consolidated Shares, on London Stock Exchange on Existing ISIN (AU000000MXC6)	2 November 2023
CREST Accounts Credited with dis Now Representing Revised Number of Consolidated Shares	2 November 2023

To avoid market confusion and potentially unsettled trades at the Record date, trading in the Company's DIs on the Main Market of London Stock Exchange plc will be suspended at 7.30am on 30 October 2023, and restored to trading at 7:30am 2 November 2023.

An application will be made for 3,067,544 New Ordinary Shares (representing the pre-consolidation number of Shares currently admitted and trading) to be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc. Dealings in the consolidated Shares are expected to commence on 2 November 2023 under the existing ISIN AU000000MXC6.

Following the issuance of the New Ordinary Shares, the Company will have 4,427,969 Shares in issue, each with one voting right. Therefore, the Company's total number of Shares in issue and voting rights will be 4,427,969 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

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Authorised for release by the board of directors, for further information please contact:

MGC Pharmaceuticals Ltd      Roby Zomer CEO & Managing Director [phone] [e-mail]	MGC Pharmaceuticals Ltd Rowan Harland Company Secretary [phone] [e-mail]
UK IR/PR Advisers  IFC Advisory Graham Herring / Tim Metcalfe / Zach Cohen [phone] [e-mail]	UK Brokers Oberon Capital Aimee McCusker / Adam Pollock [phone] [e-mail] [e-mail]

About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based pharmaceutical company, focused on developing and supplying accessible and ethically produced plant inspired medicines, combining in-house research with innovative technologies, with the goal of finding or producing treatments to for unmet medical conditions.

The Company's founders and executives are key figures in the global pharmaceuticals industry and the core business strategy is to develop and supply high quality plant inspired medicines for the growing demand in the medical markets in Europe, North America and Australasia.

MGC Pharma has a robust development pipeline targeting two widespread medical conditions and has further products under development. 

MGC Pharma has partnered with renowned institutions and academia to optimise the development of targeted plant inspired medicines, to be produced in the Company's EU-GMP Certified manufacturing facilities. 

MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market.

Follow us through our social media channels:

Twitter: @MGC_Pharma

Facebook: @mgcpharmaceuticals

LinkedIn: MGC Pharmaceuticals Ltd.

Instagram: @mgc_pharma

 

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