As referred to in Ananda’s announcement of 18 May 2021, Charles Morgan (Chairman of the Company) and Melissa Sturgess (Chief Executive Officer of the Company) have each been issued with 100,000,000 ordinary shares of 0.2p each in the Company (“Ordinary Shares”; the “Contingent Consideration Shares”) following the successful grant of a > 0.2% THC Home Office Licence to grow cannabis for research activities.
Application will be made for the Ordinary Shares to be admitted to trading on the Access Segment of the AQSE Growth Market and admission is expected to become effective on 26 May 2021.
Directors’ Interests
Following the issue of the Contingent Consideration Shares, Charles Morgan and Melissa Sturgess are interested in Ordinary Shares as follows:
| Current Holding of Ordinary Shares | Issue of Contingent Consideration Shares | New Holding of Ordinary Shares | Percentage interest in Ordinary Shares | |
| Charles Morgan | 51,071,781 | 100,000,000 | 151,071,781 | 19.03% |
| Melissa Sturgess | 77,724,170 | 100,000,000 | 177,724,170 | 22.39% |
Total Voting Rights
Following this issue, the Company has 793,872,220 Ordinary Shares in issue, each share carrying the right to one vote.
This figure of 793,872,220 Ordinary Shares may be used by shareholders in the Company 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 share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Concert Party
Following the issue of the Contingent Consideration Shares, the members of the Concert Party will be interested, in aggregate, in 343,657,607 Ordinary Shares, representing 43.29 per cent of the Company’s enlarged issued share capital. The maximum potential interest of the Concert Party in the voting rights of the Company is set out in the table below:
| Concert Party Member | Current Holding of Ordinary Shares | Holding of Warrants | Exercise of Options | Maximum interest in Ordinary Shares following exercise of the Warrants by the Concert Party and the exercise of Options |
Maximum %age interest in voting rights following exercise of the Warrants by the Concert Party and the exercise of Options |
| Charles Morgan* | 151,071,781 | 5,530,115 | – | 156,601,896 | 19.03% |
| Melissa Sturgess* | 177,724,170 | 8,070,282 | – | 185,794,452 | 22.57% |
| Jeremy Sturgess-Smith | 1,700,000 | – | 10,451,389 | 12,151,389 | 1.48% |
| Peter Redmond | 8,686,743 | 3,686,743 | – | 12,373,486 | 1.50% |
| Michael Langoulant | 4,474,697 | 1,474,697 | – | 5,949,394 | 0.72% |
| URA | 216 | 216 | – | 432 | – |
| Total Concert Party Holding | 343,657,607 | 362,419,660 | 372,871,049 | 372,871,049 | 45.30% |
| Ordinary Shares in Issue | 793,872,220 | 812,634,293 | 823,085,682 | 823,085,682 |
*In addition to the Ordinary Shares set out above, Charles Morgan and Melissa Sturgess have been granted options over 9,282,778 and 9,282,778 Ordinary Shares respectively, pursuant to the Company’s Incentive Scheme. Charles Morgan and Melissa Sturgess have undertaken not to exercise these options unless such exercise is permitted by the Takeover Code.
Words and expressions defined in the circular to shareholders in the Company dated 24 May 2019, which is available on the Company’s website at www.anandadevelopments.com, have the same meaning in this announcement.