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Ananda Developments Plc - Exercise of Warrants and Grant of Options

·7-min read

11 November 2020

ANANDA DEVELOPMENTS PLC
(“Ananda” or the “Company”)

Exercise of Warrants and Grant of Options

Exercise of Warrants

Ananda announces that 23,041,666 ordinary shares of 0.2p each in the Company (“Ordinary Shares”) have been issued following the exercise of warrants at a price of 0.2p per share. The warrants have been exercised by Charles Morgan, Chairman of the Company. Following this exercise, Mr. Morgan is interested in 45,541,666 Ordinary Shares, representing 9.81 per cent of the Company’s enlarged issued share capital. The consideration of approximately £46,000 due on exercise of the warrants has been satisfied through the settlement of loans of the same amount made by Charles Morgan to the Company.

Application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on 17 November 2020.

Grant of Options

On 6 November 2020, Charles Morgan, Melissa Sturgess and Inbar Pomeranchik, all of whom are Directors of the Company, were granted options over 9,282,778, 9,282,778 and 4,641,389 Ordinary Shares respectively, pursuant to the Company’s Incentive Scheme. The options are exercisable at a price of 0.2p per share and will vest in 3 equal, annual instalments, starting on the first anniversary of their grant. The options are exercisable at a premium to the current share price, which was 0.19p on the date of grant of the options.

Charles Morgan and Melissa Sturgess have undertaken not to exercise their options unless such exercise is permitted by the Code.

Concert Party Interest

Following the issue of Ordinary Shares referred to above, the members of the Concert Party, whose names are set out below, are interested, in aggregate, in 213,784,442 Ordinary Shares, representing 46.06 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 remains as set out in the table below:

Concert Party Member

Current holding of Ordinary Shares

Subscription Warrants

Contingent Consideration Shares

Exercise of Options

Maximum
interest in Ordinary Shares
following
exercise of the
Subscription Warrants, the
issue of the Contingent Consideration Shares and
exercise of Options

Maximum percentage
interest in voting rights
exercise of the Subscription Warrants, the issue of the Contingent Consideration Shares and
exercise of Options


Charles Morgan


45,541,666


-


100,000,000


-


145,541,666


19.06%


Melissa Sturgess


69,653,888


-


100,000,000


-


169,653,888


22.22%


Jeremy Sturgess-Smith


1,700,000


-


-


10,451,389


12,151,389


1.59%


Peter Redmond


5,000,000


-


-


-


5,000,000


0.65%


Michael Langoulant


3,000,000


-


-


-


3,000,000


0.39%


URA


88,888,888


88,888,888


-


-


177,777,776


23.29%


TOTAL HOLDING OF
CONCERT PARTY


213,784,442


88,888,888


200,000,000


10,451,389


513,124,719


67.21%


TOTAL SHARES IN ISSUE


464,138,886


553,027,774


753,027,774


763,479,163


763,479,163

Alex Gostevskikh is no longer a member of the Concert Party.

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.

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, Ananda announces that, following the issue of Ordinary Shares referred to above, the Company now has 464,138,886 Ordinary Shares in issue, each share carrying the right to one vote.

This figure of 464,138,886 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

-Ends-

The Directors of the Company accept responsibility for the contents of this announcement.

ANANDA DEVELOPMENTS PLC
Chief Executive Officer
Melissa Sturgess

Investor Relations
Jeremy Sturgess-Smith

+44 (0)7717 573 235
ir@anandadevelopments.com

PETERHOUSE CAPITAL LIMITED
Corporate Finance
Mark Anwyl
Allie Feuerlein

Corporate Broking
Lucy Williams
Duncan Vasey

+44 (0)20 7469 0930

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Charles Morgan

2

Reason for the notification

a)

Position/status

Chairman

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ananda Developments plc

b)

LEI

894500DFM8VOC5FW4X47

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
Identification code


Ordinary Shares of 0.2p each


ISIN: GB00BDQPXQ60

b)

Nature of the transaction

Exercise of Warrants

c)

Price(s) and volume(s)

23,041,666 Ordinary Shares at 0.2p per share

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

9 November 2020

f)

Place of the transaction

N/A

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Charles Morgan

2

Reason for the notification

a)

Position/status

Chairman

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ananda Developments plc

b)

LEI

894500DFM8VOC5FW4X47

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
Identification code


Ordinary Shares of 0.2p each


ISIN: GB00BDQPXQ60

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

9,282,778 Ordinary Shares exercisable at a price of 0.2p per share

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

6 November 2020

f)

Place of the transaction

N/A

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Melissa Sturgess

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ananda Developments plc

b)

LEI

894500DFM8VOC5FW4X47

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
Identification code


Ordinary Shares of 0.2p each


ISIN: GB00BDQPXQ60

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

9,282,778 Ordinary Shares exercisable at a price of 0.2p per share

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

6 November 2020

f)

Place of the transaction

N/A

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Inbar Pomeranchik

2

Reason for the notification

a)

Position/status

Executive Director

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ananda Developments plc

b)

LEI

894500DFM8VOC5FW4X47

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
Identification code


Ordinary Shares of 0.2p each


ISIN: GB00BDQPXQ60

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

4,641,389 Ordinary Shares exercisable at a price of 0.2p per share

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

6 November 2020

f)

Place of the transaction

N/A

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 Regulations (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.