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On 12 June 2023, Cellular Goods PLC announced a correction regarding its 'Grant of Warrants' announcement, confirming it granted 3,000,000 warrants to members of its Advisory Board. These warrants are exercisable at 1.5 pence per ordinary share, with vesting occurring one-third on 8 June 2024 and the remaining two-thirds over 24 months thereafter, and are exercisable until 8 June 2028. Following this grant, Cellular Goods PLC has a total of 37,460,000 warrants in issue across various categories, and 24,331,594 share options remain exercisable.
| Date | 12 Jun 2023 |
| Time | 18:15:01 |
| Category | Capital structure |
| ID | 4631C |
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Press release
12 June 2023
Cellular Goods PLC
("Cellular Goods" or "the Company")
Correction: Grant of Warrants
The following amendment has been made to the 'Grant of Warrants' announcement released on 9 June 2023 at 07:00 a.m. under RNS number 1766C. The description of the total number of Warrants in issue was incomplete, which has been corrected in the revised text below.
Cellular Goods (LSE: CBX) a UK-based skincare and wellness company providing premium consumer products formulated with lab-produced cannabinoids, announces that it has granted a total of 3,000,000 warrants to subscribe for new ordinary shares of £0.001 each ("Warrants") to members of its Advisory Board. The Warrants are exercisable at 1.5 pence per ordinary share.
One third of the warrants will vest on 8 June 2024 with the remaining two thirds vesting in 24 equal monthly instalments thereafter. The Warrants have an exercise period from the date of grant to 8 June 2028.
Following the issue of the Warrants, the Company has a total of:
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12,500,000 warrants in issue to staff and founders at exercise prices between 5 pence and 8.13 pence per ordinary share; |
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4,000,000 granted to the Company's non-executive directors at exercise prices between 0.97 pence and 2.9 pence per ordinary share; |
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5,000,000 at an exercise price of 0.97 pence per ordinary share to Matthew Lodge in connection with the King Tide acquisition; |
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3,000,000 to the Advisory Board, details of which are set out in the announcement; and |
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12,960,000 to brokers at an exercise price of 5 pence per ordinary share in connection with the Company's IPO. |
In addition, under the Company's share option plan, options over in aggregate 24,331,594 ordinary shares at exercise prices between 1.2 pence and 7.812 pence per ordinary share remain exercisable.
For further information please contact:
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Cellular Goods |
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Darcy Taylor Chairman and interim CEO Neil Thapar Investor Relations |
via Tancredi +44 207 887 7633
+44 787 645 5323 |
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First Sentinel Corporate Finance |
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Corporate Broker & Advisor Brian Stockbridge |
+44 7876 888 011 |
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Novum Securities |
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Corporate Broker Colin Rowbury Jon Belliss |
+44 207 399 9427 |
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Tancredi Intelligent Communication |
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Media Relations Helen Humphrey Charlie Hobbs |
+44 744 922 6720 +44 789 755 7112 |
About Cellular Goods PLC:
Cellular Goods develops and markets premium quality skincare and wellness products based on proprietary formulations incorporating biosynthetic lab-made cannabinoids. Our branded products are efficacy-led and research-backed and available online in the UK and US. The Company is incorporated in the UK and listed on the Main Market of the London Stock Exchange. For more information, visit www.cellular-goods.com.