Board Changes and Business Update

RNS Number : 9672D

Spinnaker Opportunities PLC

15 October 2018

 

15 October 2018

Spinnaker Opportunities Plc

("Spinnaker " or "the Company")

Board Changes and Business Update

Spinnaker Opportunities Plc (LON: SOP), the Standard Listed cash shell established to make a material acquisition within the energy or industrial sectors, announces that Richard Liddell has resigned as a Director of the Company with immediate effect.

On 5 and 18 September 2018, the Company announced that it was evaluating an opportunity which involves the extraction and wholesaling of high purity Cannabidiol oils from industrial hemp for clients in non-medicinal health and wellness businesses. The Company confirms that it has now terminated discussions with this business although Spinnaker continues to review a number of acquisition opportunities within its enlarged strategic focus, with a particular and growing emphasis on businesses within the cannabis processing industry.

Commenting on the developments, Andy Morrison, Chairman of Spinnaker said:

"We look forward to furthering Spinnaker's new business focus and exploring our options within the cannabis processing industry."

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Enquiries

Spinnaker Opportunities Plc

Contact through Blytheweigh (see below)

Andy Morrison / Alan Hume

Peterhouse Capital (Strategic Consultant)

Tel: [phone]

Guy Miller / Lucy Williams

SI Capital (Joint Broker)

Tel: [phone]

Nick Emerson / Greg Mahoney

Blytheweigh (Financial PR)

Tel: [phone]

Tim Blythe / Julia Tilley / Simon Woods

 

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