OXFORD CANNABINOID TECHNOLOGIES HOLDINGS PLC

AGM Information • Sep 28, 2022

National Storage Mechanism | Additional information

RNS Number : 0352B

Oxford Cannabinoid Tech.Holdings

28 September 2022

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or "the Company")

Results of Annual General Meeting and update on shareholder engagement

Results of Annual General Meeting

Oxford Cannabinoid Technologies Holdings plc, the pharmaceutical company developing prescription cannabinoid medicines targeting the US$ multi-billion pain market, announces that all of the resolutions set out in the notice of Annual General Meeting dated 31 August 2022 were duly passed at today's Annual General Meeting.

	Resolution	For (including discretionary)	%	Against	%	Total	% of ISC voted	Withheld*
1.	Receive and adopt the 2022 Annual Report and Accounts	312, 345,203	79.58	80,155,012	20.42	392,500,215	40.87	21,072
2.	Approve the Directors' Remuneration Report	312,338,093	79.58	80,162,122	20.42	392,500,215	40.87	21,072
3.	Approve the Directors' Remuneration Policy	311,923,093	79.47	80,561,622	20.53	392,484,715	40.87	36,572
4.	Elect  Richard Hathaway	312,154,703	79.57	80,155,012	20.43	392,309,715	40.85	211,572
5.	Re-elect Julie Pomeroy	311,644,102	79.44	80,665,613	20.56	392,309,715	40.85	211,572
6.	Re-elect Clarissa Sowemimo-Coker	311,665,796	79.44	80,653,919	20.56	392,309,715	40.85	211,572
7.	Re-appoint Moore Kingston Smith LLP as auditor	311,941,399	79.47	80,568,316	20.53	392,509,715	40.87	11,572
8.	Authorise the Directors to fix the auditor's remuneration	311,955,203	79.48	80,554,512	20.52	392,509,715	40.87	11,572
9.	To authorise the Directors to allot ordinary shares and relevant securities pursuant to Section 551 of the Companies Act 2006.	311,950,899	79.48	80,558,816	20.52	392,509,715	40.87	11,572
10.	To authorise the Directors to disapply pre-emption rights (general authority).**	312,326,399	79.57	80,183,316	20.43	392,509,715	40.87	11,572
11.	To authorise the directors to Disapply pre-emption rights (additional authority).**	312,326,399	79.57	80,183,316	20.43	392,509,715	40.87	11,572
12.	That a general meeting other than an annual general meeting may be called on not less than 14 clear days' notice.**	312,345,203	79.58	80,164,512	20.42	392,509,715	40.87	11,572

* A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" a resolution.

** Indicates special resolutions requiring a 75% majority.

Given that all resolutions passed concern ordinary business, no submission will be made to the National Storage Mechanism in accordance with Listing Rule 14.3.6R(2). 

A copy of the Annual General Meeting results will be available on the Company's website at https://www.oxcantech.com/investor-financial-results-centre

Update on Shareholder Engagement

In accordance with Provision 4 of the UK Corporate Governance Code, the Board is also pleased to provide the following update on shareholder engagement. At the Requisitioned General Meeting ("RGM") held on 6 April 2022, shareholders strongly supported the Board's recommendation to reject all the resolutions put forward. However, we recognise that some shareholders (between 22.31% and 23.4% of votes cast) chose to vote in favour of the resolutions. Since the vote, the Company has engaged with its shareholders, via a number of different platforms, which has allowed us to gain valuable insights into shareholders' views on our overall strategy and aims, irrespective of how they voted at the RGM.

In general, we have received clear support for our strategy and the Board is grateful to all those who have taken the time to engage with the Company. We have reflected carefully on the feedback and have taken certain actions, including voluntarily adopting the key principles of the UK Corporate Governance Code and extending the cash runway of the Company by pausing the clinical work for OCT130401, as a result of those discussions. We will continue to engage with shareholders and other stakeholders via various platforms including interactive webinars, in-person, and virtual meetings, in the weeks and months to come. We encourage anyone who would like to meet with the Company to get in touch using the details at the end of this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

The Directors of the Company accept responsibility for the content of this announcement.

Enquires:

Oxford Cannabinoid Technologies Holdings plc Dr John Lucas (CEO) Clarissa Sowemimo-Coker (COO)	+44 (0)20 3034 2820 john@oxcantech.com clarissa@oxcantech.com
Cairn Financial Advisers LLP Emily Staples Jo Turner	+44 (0)20 7213 0897 +44 (0)20 7213 0885
Axis Capital Markets Limited Kamran Hussein Richard Hutchinson finnCap Ltd James Thompson/Geoff Nash/Fergus Sullivan Walbrook PR Limited Paul Vann/Nick Rome Harbor Access LLC Richard Leighton/Jonathan Paterson	+44 (0)20 3026 0320 +44 (0) 20 7220 0500 +44 (0)20 7933 8780 +44 (0)7768 807631 oxcantech@walbrookpr.com +1 (475) 455 9403 Richard.Leighton@HarborAccessllc.com

About Oxford Cannabinoid Technologies Holdings Plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company of Oxford Cannabinoid Technologies Ltd ("OCT") (together the "Group"), a pharmaceutical Group developing prescription cannabinoid medicines for approval by key medicines regulatory agencies worldwide and targeting the U$ multi-billion pain market. Cannabinoids are compounds found in the cannabis plant that have been shown to have a range of therapeutic effects on the body, including pain relief. The Group has a clearly defined path to commercialisation, revenues and growth. The Group is developing drug candidates through clinical trials to gain regulatory approval (FDA/MHRA/EMA) that will enable medical professionals to prescribe them with confidence.

The Group's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities. The Group's lead compound, OCT461201, is a highly potent and selective CB2 agonist and is being developed by OCT in a solid oral dosage form. OCTP is conducting pre-clinical testing and development with clinical trials scheduled for Q1 2023. The Group's product pipeline also uses a balanced drug product strategy that employs both natural and synthetic compounds for the treatment of rare diseases and includes chemically modified phytocannabinoids with improved drug-like characteristics and a proprietary library of cannabinoids.

OCTP operates a partnership model with external academic and commercial partners

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