Love Hemp Group PLC Announces Result of General Meeting

Rhea-AI Summary

Love Hemp Group PLC (OTCQB: WRHLF) announced the failure of all resolutions at its recent General Meeting. Key proposals included the removal of Chairman Andrew Male, reduction of board salaries, and conducting a strategic review, with less than 5% votes in favor for each. The Chairman expressed gratitude to shareholders and emphasized the company’s commitment to growth and a potential up-listing to the London Stock Exchange. Love Hemp, a pioneer in the UK CBD market, offers more than 40 products across various platforms.

Positive

• Potential for growth opportunities, including up-listing to the London Stock Exchange.

Negative

• All resolutions failed to pass, indicating shareholder dissatisfaction.
• Over 95% of votes against key proposals, raising concerns about management direction.

LONDON, ENGLAND / ACCESSWIRE / April 1, 2022 / Love Hemp Group PLC (AQSE:LIFE) (OTCQB:WRHLF), the brand-led consumer goods company focused on CBD health and wellness solutions, is pleased to announce that all resolutions failed to pass at the General Meeting of the Company held today.

Resolutions		Votes For	Votes Against
		% of Shares	% of Shares
1	To remove Andrew Male from office as Chairman	4.73%	95.27%
2	Reduce any board members' salaries by 75%	3.97%	96.03%
3	Conduct a strategic review and put the Company up for sale	1.52%	98.48%
4	Review the financial history of the Company	3.54%	96.46%
5	Operate the Company self-sufficiently and halt all marketing spend	1.50%	98.50%

Andrew Male, Chairman of Love Hemp Group, commented, "We would like to thank shareholders for their continued support of Love Hemp and for sharing our belief in the potential of this company. Since its foundation, Love Hemp's growth trajectory has been unparalleled, earning and upholding the brand's "best in class" reputation. The result of today's meeting allows the Board to refocus its efforts on the pipeline of growth opportunities for Love Hemp, including the up-listing to the London Stock Exchange Main Market. We look forward to keeping shareholders updated as Love Hemp's journey progresses."

For further information please visit: www.lovehempgroup.com or contact:

Love Hemp Group Andrew Male Chairman & Director	+44 (0) 7926 397 675 andrew.male@lovehempgroup.com
Financial Advisor Rupert Fane/Nilesh Patel H&P Advisory Limited	+44 (0) 20 7907 8500 rf@hannam.partners/nilesh@hannam.partners
AQSE Corporate Adviser Mark Anwyl Peterhouse Capital Limited	+44 (0) 20 7469 0930 ma@peterhousecap.com
Financial PR Tim Blythe / Alice McLaren BlytheRay	+44 (0) 207 138 3204 lovehemp@blytheray.com

About Love Hemp Group

Love Hemp Group isa brand-led consumer goods company focussed on health and wellness solutions for consumer use cases including sleep, pain, anxiety, stress and recovery.The Company is a pioneer in the UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics and topicals. 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Love Hemp Group PLC

View source version on accesswire.com:
https://www.accesswire.com/695690/Love-Hemp-Group-PLC-Announces-Result-of-General-Meeting

FAQ

What were the results of the General Meeting for Love Hemp Group (WRHLF) on April 1, 2022?

All resolutions, including the removal of Chairman Andrew Male and salary reductions for board members, failed to pass with over 95% votes against.

How did Love Hemp Group's shareholders vote on the leadership changes during the General Meeting?

Shareholders voted 95.27% against removing Andrew Male as Chairman, indicating strong support for current management.

What does Love Hemp Group plan to do after the failed resolutions in the General Meeting?

Chairman Andrew Male stated that the Board will refocus efforts on growth opportunities and a potential up-listing to the London Stock Exchange.

How many products does Love Hemp Group offer on the market?

Love Hemp Group offers over 40 products, including oils, edibles, sprays, cosmetics, and topicals.