Grant of Share Options and update on warrants

RNS Number : 8226Q

Cellular Goods PLC

01 November 2021

 

Press Release

1 November 2021

Cellular Goods PLC

('Cellular Goods' or 'the Company')

Grant of Share Options and update on warrants

Cellular Goods (LSE: CBX), a UK-based provider of premium consumer products based on lab-made cannabinoids,  announces that on 28 October 2021 it granted share options over a total of 700,000 ordinary shares of £0.001 each in the Company ("Options") to the following, including persons discharging managerial responsibility. 

Jodie Sanders, commercial and partnerships director, and Sean O'Dwyer, marketing director, who joined the Company in August and September 2021 respectively, have each been granted options over 250,000 ordinary shares.

The exercise price is the average of the mid-market closing price for the five business days between 26 October 2021 and 1 November 2021. The options have a total exercise period of 10 years with 50% vesting in the fourth quarter of 2022; 25% per cent exercisable in the second quarter of 2023 and the remaining 25 per cent exercisable in the fourth quarter of 2023.

Update on granting of warrants

The Company announced on 6 May 2021 that it had secured the services of a skincare business adviser, who was to be granted warrants in July 2021 over 200,000 ordinary Shares. These warrants were never issued. The skincare business adviser, Antony Buck, has instead been granted options over 200,000 ordinary shares of £0.001 each in the capital of the Company.   The options can be exercised after 12 July 2022 and lapse on 12 Jul 2024 if not exercised. The exercise price is 7.812 pence per share.

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]

About Cellular Goods PLC

Cellular Goods is a U.K.-based provider of premium consumer products based on biosynthetic cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid products. The initial focus is on two product verticals: premium skincare and topical athletic recovery products to be launched from this autumn. These will be made available through partnerships with leading online and physical retailers and direct to consumers through the Company's website.

www.cellulargoods.co

 

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