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Ananda Developments Plc - Extension of Agreement and Issue of Equity
PR Newswire
Extension of Contingent Consideration Shares Deadline
As part of the Rule 9 Waiver approved by shareholders in Ananda on 10 June 2019, it was agreed that deferred consideration of £900,000 for the acquisition of Tiamat Agriculture Limited (the Acquisition) would be satisfied by the issue of 100,000,000 ordinary shares of 0.2p each in the Company ( Ordinary Shares ; the Contingent Consideration Shares ) to each of Charles Morgan (Chairman of the Company) and Melissa Sturgess (Chief Executive Officer of the Company). The issue of the Contingent Consideration Shares was conditional on the successful grant of a > 0.2% THC Home Office Licence to grow cannabis within 18 months of completion of the Acquisition. The Acquisition was completed on 10 June 2019, such that the deadline for the grant of the licence and the issue of the Contingent Consideration Shares was therefore 10 December 2020. ....

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