CLS Holdings plc ("the Company")
Notification of compliance with Listing Rule 9.2.2AR
and
Notification of Transaction of Directors, Persons Discharging Managerial Responsibilities ("PDMR") or Connected Person
The Company has been informed that, as part of an internal reorganisation by Sten Mortstedt, Executive Chairman of the Company, of those companies and trusts in which he has a controlling or beneficial interest, three subsidiaries of Victoria Investment Holdings Limited ("Victoria"), the investment vehicle for The Sten Mortstedt Family and Charity Trust have transferred, in aggregate, 21,360,960 ordinary shares of 25 pence each in the Company ("Ordinary Shares") to certain companies which are directly held and beneficially owned by Sten Mortstedt (the "Transaction").
The Transaction took place on 14 December 2015. The price paid was a nominal price of 0.014 pence per share, being aggregate total consideration of £3,000. These 21,360,960 Ordinary Shares represent 50.69% of the issued share capital and voting rights of the Company (excluding Ordinary Shares held in treasury).
As a result of the Transaction, the beneficial interest of Sten Mortstedt in the Company remains unchanged.
The Transaction constitutes a transaction by connected persons of a person discharging managerial responsibilities pursuant to DTR 3.1 of the Disclosure Rules and Transparency Rules.
In order to address the requirements applicable to companies with controlling shareholders set out in LR 9.2.2AR of the Listing Rules, the Company announces that it has entered into a new relationship agreement with Sten Mortstedt as its controlling shareholder. The relationship agreement dated 13 November 2014 between the Company and Victoria has been terminated with immediate effect.
Enquiries:
David Fuller
Company Secretary
CLS Holdings plc
+44 20 7582 7766
Jonathan Gray
Kinmont
5 Clifford Street
London W1S 2LG
+44 7785 376690
+44 20 7087 9100
