Love Hemp Group PLC Announces Issue of Equity
Love Hemp Group PLC (OTCQB:WRHLF) issued shares to settle a deferred consideration of £2,000,000 to the vendors of Love Hemp Limited. This includes 65,000,000 shares at 1.5 pence each, totaling £975,000, alongside additional issuances for debt repayments and services. The company's share capital now stands at 942,248,881 Ordinary Shares. New shares are expected to begin trading on the AQSE Growth Market on December 31, 2021.
- Issue of 65,000,000 shares at 1.5 pence each raises £975,000 for settlement, boosting liquidity.
- Successful completion of deferred consideration enhances strategic positioning through Love Hemp Limited.
- Issuing new shares could lead to potential dilution for existing shareholders.
- Total number of shares has increased to 942,248,881, which may impact share value.
LONDON, UK / ACCESSWIRE / December 24, 2021 / Love Hemp Group PLC (AQSE:LIFE) (OTCQB:WRHLF), one of the UK's leading CBD and Hemp product suppliers, announces the issue of shares.
As announced on 3 February 2021, the Company and the vendors of Love Hemp Limited (the "Vendors") agreed that settlement of the final deferred consideration of £2,000,000 due to the Vendors was to be satisfied by the issue of ordinary shares of 1p each in the Company ("Ordinary Shares"), rather than in cash. As part of the final balance of this settlement, the Company has allotted 65,000,000 new Ordinary Shares at a price of 1.5 pence per share for a total value of £975,000.
The Company has also allotted 1,500,000 new Ordinary Shares at a price of 2 pence per share in lieu of debt repayments and for services for a total value of £30,000. Further, the Company has allotted 285,714 new Ordinary Shares at a price of 3.5 pence per share for a total value of £10,000. The proceeds from this issue will be used for general working capital purposes.
Following this allotment, Antony Calamita is now interested in 83,635,714 Ordinary Shares, representing
Application will be made for the new Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective, and dealings in the new Ordinary Shares are expected to commence, on 31 December 2021.
Following this issue, the Company has 942,248,881 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 942,248,881 should 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 to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Directors of the Company accept responsibility for the contents of this announcement.
-ENDS-
For further information please visit: www.lovehempgroup.comor contact:
Love Hemp Group Andrew Male Anna Legge Chief Communications Officer | +44 (0) 7926 397 675 +44 (0) 7500 773 415 |
Financial Advisor Rupert Fane H&P Advisory Limited | +44 (0) 20 7907 8500 |
AQSE Corporate Adviser Mark Anwyl Peterhouse Capital Limited | +44 (0) 20 7469 0930 |
Financial PR Tim Blythe/Alice McLaren/Madeleine Gordon-Foxwell Blytheweigh | +44 (0) 207 138 3204 |
About Love Hemp Group
Love Hemp Group is one of the UK's leading CBD and Hemp product suppliers.The Company is a pioneer in the UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics, topicals and vapes. The Company's range of products are sold online across 70 websites and in over 2,000 stores including some of the biggest retailers in the UK, such as Holland & Barrett, Boots and Ocado. Listed on the Aquis Stock Exchange (AQSE:LIFE) the Company recently changed its name to Love Hemp Group plc, from World High Life, to better reflect its focus on supporting the "best in class" CBD brand as it embarks on a wider expansion of its core business and offering.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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: | Antony Luigi Calamita |
2. | Reason for the notification | |
a) | Position/status: | Director |
b) | Initial notification/Amendment: | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Love Hemp Group Plc |
b) | LEI: | 213800ERYVHIGFSPMM75 |
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 £0.01 GB00BMDY1P48 |
b) | Nature of the transaction: | Issue of Ordinary Shares |
c) | Price(s) and volume(s): | Ordinary Shares: Price(s) Volume(s) £0.015 29,250,000 |
d) | Aggregated information: Aggregated volume: Price: | Ordinary Shares: Price(s) Volume(s) £0.015 29,250,000 |
e) | Date of the transaction: | 2021-12-23 |
f) | Place of the transaction: | AQSE Growth Market (AQSE) |
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | Thomas Rowland |
2. | Reason for the notification | |
a) | Position/status: | PDMR |
b) | Initial notification/Amendment: | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name: | Love Hemp Group Plc |
b) | LEI: | 213800ERYVHIGFSPMM75 |
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 £0.01 GB00BMDY1P48 |
b) | Nature of the transaction: | Issue of Ordinary Shares |
c) | Price(s) and volume(s): | Ordinary Shares: Price(s) Volume(s) £0.015 29,250,000 |
d) | Aggregated information: Aggregated volume: Price: | Ordinary Shares: Price(s) Volume(s) £0.015 29,250,000 |
e) | Date of the transaction: | 2021-12-23 |
f) | Place of the transaction: | AQSE Growth Market (AQSE) |
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SOURCE: Love Hemp Group PLC
View source version on accesswire.com:
https://www.accesswire.com/679498/Love-Hemp-Group-PLC-Announces-Issue-of-Equity
FAQ
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