Grant of Options

RNS Number : 6290X

Kanabo Group PLC

30 August 2022

 

Kanabo Group Plc

("Kanabo" or the "Company")

Grant of Options

Kanabo Group Plc (LSE:KNB), the pan-European medical cannabis company that focuses on developing and commercialising cannabis-derived products for medical patients and wellness CBD consumers, announces the grant of two types of options over a total of 22,759,150 shares to certain employees, pursuant to their terms of employment.

options

Name	No. of Options	Vested options as of today	Option Exercise Price	Vesting Period for non-vested options
Gil Efron ) PDMR)	900,000	-	6.5p	Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter
	900,000	-	8.0p
Daniel Poulter (PDMR)	900,000	600,000	6.5p	Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter
	900,000	-	8.0p
Other Employees	6,927,200	-	8.0p	Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter
Other Employees	6,927,200	2,000,000	6.5p	Options shall vest over a 3-year period. 33% vest at the end of the 12-month period following the Vesting Start Date. The remaining options vest over 8 equal 3-month periods thereafter.
Other Employees*	975,527	162,588	10.15p	Options shall vest in 3 years on a quarterly basis
Other Employees*	2,437,628	406,271	12.65p	Options shall vest in 3 years on a quarterly basis

* These options replace options GP's employees had in GP. The options will only be exercisable in three years from date of acquisition and will be valid for 2 years from that date.

Options issued for past due debts

As part of the acquisition of The GP Service, the Company offset part of GP's payroll obligations for its various employees, from the overall consideration. The Company now reached an agreement with the employees to issue options in the Company in lieu of owed salaries.

The agreement states that in lieu of the £192,000 owed as salaries, the company will issue 1,891,595 options with an exercise price being at par. The number of options granted was calculated according to the transaction price of 12.65 pence less the company's nominal share value. The options will only be exercisable in two years from the date of issue [three years from date of acquisition] and will be valid for 3 years from that date.

For further information, please visit http://www.kanabogroup.com/ or contact the following:

Kanabo Group Plc
Avihu Tamir, CEO	Via Vox Markets
Peterhouse Capital Ltd
Eran Zucker /   Lauren Riley	Tel: [phone]
Vox Markets (Investor Relations)
Kat Perez	[e-mail]

About Kanabo Group Plc

Kanabo Group Plc is creating a new standard in the medical cannabis industry to improve the well-being of millions of people around the world by providing a better alternative to the smoking of medicinal cannabis flowers. Kanabo, which was the first medicinal cannabis company to IPO on London Stock Exchange, has a focus on the distribution of cannabis-derived products for medical patients and non-THC products for CBD consumers. It has conducted extensive Research & Development to produce high-quality cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions. Kanabo sells a range of medical cannabis products and wellness CBD products in the Primary Markets, including its VapePod, which delivers a metered dose with every inhalation.

The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gil Efron
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kanabo Group Plc
b)	LEI	213800XPJFSNWJIYKN52
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares
	Identification code	GB00BYQCS703
b)	Nature of the transaction	Share Options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			6.5p	900,000
			8.0p	900,000
d)	Aggregated information
	- Aggregated volume	N/A
	- Price	N/A
e)	Date of the transaction	21.3.2022
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Daniel Poulter
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kanabo Group Plc
b)	LEI	213800XPJFSNWJIYKN52
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares
	Identification code	GB00BYQCS703
b)	Nature of the transaction	Share Options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			6.5p	900,000
			8.0p	900,000
d)	Aggregated information
	- Aggregated volume	N/A
	- Price	N/A
e)	Date of the transaction	19.7.2021
f)	Place of the transaction	London Stock Exchange

 

END

 

 

DSHBKKBNNBKDDFN