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Ananda Developments Plc - Exercise of Warrants; Director/PDMR Shareholdings

·6-min read

13 June 2022

ANANDA DEVELOPMENTS PLC

(“Ananda” or the “Company”)

Exercise of Warrants; Director/PDMR Shareholdings

Exercise of Warrants

Ananda announces that 14,043,532 ordinary shares of 0.2p each in the Company (“Ordinary Shares”) have been issued following the exercise of warrants (“Warrants”) at a price of 0.45p per share. The proceeds received by the Company, amounting to approximately £38,000, will be used for general working capital purposes.

The term of the Warrants has now expired, and the Company has no further warrants outstanding. Over the lifetime of the Warrants, a total of 26,682,352 have been exercised, realising gross proceeds of approximately £120,000 for the Company.

Application will be made for the 14,043,532 Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on Friday, 17 June 2022.

Concert Party Interest

Of the Warrants referred to above, 5,530,116 have been exercised by Charles Morgan, Chairman of the Company, and 8,070,282 have been exercised by Melissa Sturgess, Chief Executive Officer of the Company.

Following these exercises, Mr. Morgan is interested in 156,601,896 Ordinary Shares, representing 19.09 per cent of the Company’s enlarged issued share capital, and Ms. Sturgess is interested in 185,794,452 Ordinary Shares, representing 22.64 per cent of the Company’s enlarged issued share capital. The consideration of approximately £24,886 due on exercise of the Warrants by Mr. Morgan has been satisfied through the settlement of loans of the same amount made by Mr. Morgan to the Company. The exercise of the warrants by Ms. Sturgess has been settled via the depositing of £36,316.27 into the Company’s bank account.

Following the issue of Ordinary Shares referred to above and the expiry of the Warrants, the members of the Concert Party, whose names are set out below, are interested, in aggregate, in 358,732,485 Ordinary Shares, representing 43.72 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 44.43 per cent, as set out in the table below:

Concert Party Member

Current Holding of Ordinary Shares

Options

Maximum interest in Ordinary Shares
following exercise of the Options by the Concert Party

Maximum percentage interest in voting rights
following exercise of the Options by the Concert Party

Charles Morgan

156,601,896

-

156,601,896

18.84%

Melissa Sturgess

185,794,452

-

185,794,452

22.36%

Peter Redmond

8,686,743

-

8,686,743

1.05%

Jeremy Sturgess-Smith

1,700,000

10,451,389

12,151,389

1.46%

Michael Langoulant

5,949,394

-

5,949,394

0.72%

Total Holding of Concert Party

358,732,485

369,183,874

369,183,874

44.43%

Ordinary Shares in issue

820,554,572

831,005,961

831,005,961

In addition to the Ordinary Shares set out above, Mr. Morgan and Ms. Sturgess were each granted options over 9,282,778 Ordinary Shares in November 2020, pursuant to the Company’s Incentive Scheme, and are also both interested in £125,000 of convertible loan notes (“CLNs”), which they purchased in July 2021, convertible, in each case, into a further 12,500,000 Ordinary Shares. Mr. Morgan and Ms. Sturgess have undertaken not to exercise these options and not to convert any CLNs and have agreed that no Ordinary Shares would be issued to them by way of interest payment under the CLNs, unless such exercise does not give rise to an obligation to make a mandatory offer for the Company under Rule 9 of 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.

DJT Plants Limited

There remains one outstanding item to complete the circular to shareholders for the purchase of the 50% of DJT Plants Limited not already owned by Ananda. Once final sign off is obtained, the circular will be posted to shareholders and the required General Meeting will be convened.

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 820,554,572 Ordinary Shares in issue, each share carrying the right to one vote.

This figure of 820,554,572 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)7463 686 497
ir@anandadevelopments.com

PETERHOUSE CAPITAL LIMITED
Corporate Finance
Mark Anwyl

Corporate Broking
Lucy Williams
Duncan Vasey

+44 (0)20 7469 0930

About Ananda Developments

Ananda is an AQSE-listed medical cannabis company creating UK-based operations to grow and provide carbon zero, consistent, medical cannabis for the UK and international markets.

The UK medical cannabis market is predicted to be worth £450m by 2025 and the European market is predicted to be worth USD4.2bn by 2027.

For more information, please visit: https://anandadevelopments.com/

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)

5,530,116 Ordinary Shares at 0.45p per share

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

10 June 2022

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

Exercise of warrants

c)

Price(s) and volume(s)

8,070,282 Ordinary Shares at 0.45p per share

d)

Aggregated information
- Aggregated volume
- Price

N/A

e)

Date of the transaction

10 June 2022

f)

Place of the transaction

N/A

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