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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
FOR IMMEDIATE RELEASE – Click here to read the full announcement
3 June 2020
RECOMMENDED ALL-SHARE OFFER
SATIVA GROUP PLC
TO BE IMPLEMENTED BY MEANS OF A SCHEME OF ARRANGEMENT UNDER PART 26 OF THE COMPANIES ACT 2006
- Further to the announcements made on 22 April 2020 and 20 May 2020, the boards of directors of Stillcanna Inc. (“Stillcanna”) and Sativa Group plc (“Sativa” or the “Company”) are pleased to announce that they have reached agreement on the terms of a recommended share for share exchange offer to be made by Stillcanna for the entire issued and to be issued share capital of Sativa (the “Offer”). It is intended that the Offer will be implemented by way of a Court-sanctioned scheme of arrangement between Sativa and its shareholders under Part 26 of the Companies Act 2006 (the “Scheme”).
- Stillcanna, a Canadian company listed on the Canadian Securities Exchange (the “CSE”) (ticker code: STIL), whose securities are also quoted on the OTC in the United States (“OTC”) and the Open Market of the Frankfurt Stock Exchange (“FSE”), is a leader in cannabinoid extraction and agriculture. It is focused on the large-scale manufacturing of CBD in Europe and has built two high volume extraction facilities, positioning itself as a leader in seed to CBD supply.
- The Offer is a share for share exchange offer at a ratio of 0.33507 New Stillcanna Shares in exchange for each Scheme Share (the “Exchange Ratio”). The Exchange Ratio attributes an implied value for the entire issued share capital of Sativa of approximately £10,662,680 (based on the closing price of CAD0.095 per Stillcanna Share on 21 April 2020, being the last Business Day in Toronto prior to the Possible Offer Announcement Date and using an exchange rate of CAD0.5885/£1).
- The proposed combination of Sativa and Stillcanna will result in Scheme Shareholders holding approximately 65.0 per cent. of the Combined Group and Stillcanna Shareholders holding approximately 35.0 per cent. of the Combined Group, including all option and warrant instruments outstanding on a fully diluted basis.
- At the value implied by the Exchange Ratio, the Offer represents a discount of approximately:
- 28.6 per cent. to the middle market closing price of 2.6 pence per Sativa Share on 21 April 2020 (being the last Business Day in London prior to the Possible Offer Announcement Date, and Sativa Shares being suspended from trading); and
- 42.4 per cent. to the volume weighted average price per Sativa Share of 3.25 pence over the three month period ended on and including 21 April 2020 (being the last Business Day in London prior to the Possible Offer Announcement Date, and Sativa Shares being suspended from trading). The Sativa Shares currently remain suspended pending this announcement.
- Implementation of the Scheme will be subject to, amongst other things, the approval of the Scheme by the Scheme Shareholders at the Court Meeting and the passing of the special resolution by Sativa Shareholders necessary to implement the Scheme at the General Meeting, and the sanction of the Scheme by the Court. The Scheme Document, setting out full details of the Scheme and the procedures to be followed by Sativa Shareholders to approve the Scheme, together with the Forms of Proxy, are expected to be despatched to Sativa Shareholders shortly. It is expected that the Scheme will become Effective during August 2020, subject to the Conditions and certain further terms set out in Appendix I to this Announcement and to be set out in the Scheme Document being satisfied or waived (if capable of waiver).
- It is expected that the Scheme Document will be published as soon as practicable within 28 days from the date of this Announcement. The Scheme Document will contain an expected timetable for the Offer process.
- The transaction constitutes a fundamental change of business for Stillcanna pursuant to the rules of the CSE. Accordingly, Stillcanna Shares have been halted from trading on the CSE, OTC and FSE with effect from market open on 22 April 2020 pending completion of the Offer, when the Combined Group will resume trading under its current issuer name of Stillcanna Inc. In addition, Stillcanna intends to publish a Filing Statement later this month in respect of the Acquisition, which will be available on SEDAR (www.sedar.com), under Stillcanna’s existing issuer profile.
- Completion of the Acquisition will be subject, inter alia, to Stillcanna obtaining the approval of the CSE, as well as the approval of a majority of Stillcanna Shareholders at the Stillcanna Shareholder Meeting. In connection with the resolutions proposed to be put to Stillcanna Shareholders at the Stillcanna Shareholder Meeting, Sativa has obtained irrevocable undertakings to vote in favour of the Acquisition from certain Stillcanna Shareholders in respect of the 35,820,212 Stillcanna Shares and representing approximately 32.3 per cent. of Stillcanna’s existing issued and outstanding share capital.
- The Offer will lapse if the Scheme does not become Effective by the Longstop Date or such later date (if any) as Stillcanna and Sativa may agree and, if required, the Court and the Panel may approve.
- The Sativa Directors, who have been so advised by Peterhouse Capital Limited (“Peterhouse”), the Company’s financial adviser, as to the financial terms of the Offer, consider the terms of the Offer to be fair and reasonable. In providing its advice to the Sativa Directors, Peterhouse has taken into account the commercial assessments of the Sativa Directors. Peterhouse is providing independent financial advice to the Sativa Directors for the purposes of Rule 3 of the Code.
- Accordingly, the Sativa Directors intend unanimously to recommend that the Scheme Shareholders vote in favour of the Scheme at the Court Meeting and that the Sativa Shareholders vote in favour of the special resolution necessary to implement the Scheme at the General Meeting.
- The Sativa Directors have irrevocably undertaken to vote in favour of such resolutions in respect of their own direct and indirect holdings of, in aggregate, 240,050,000 Sativa Shares representing approximately 42 per cent. of Sativa’s existing issued share capital.
- As at the date of this Announcement Stillcanna has received, in total, irrevocable undertakings to vote (or to procure or direct that the registered holders of Sativa Shares of which they are the beneficial holders or in which they are otherwise interested, vote) in favour of the Scheme at the Court Meeting and the special resolution necessary to implement the Scheme to be proposed at the General Meeting in respect of 446,676,979 Sativa Shares, representing, in aggregate, approximately 78.5 per cent. of Sativa’s existing issued share capital. Further details of the abovementioned irrevocable undertakings are set out in Appendix III to, this Announcement.
- Henry Lees-Buckley, Joseph Colliver, Jonathan Wearing, Geremy Thomas, Angus Kerr, Mark Blower, Anne Tew and Jason Dussault, will be deemed to be principals of the Combined Group (together, the “Locked-In Parties”). On the Scheme becoming Effective, each Locked-In Party will enter into a Resulting Issuer Escrow Agreement with Stillcanna and Computershare Canada (the “Escrow Agent”), as escrow agent, in respect of the New Stillcanna Shares to be issued to them pursuant to the Offer. Pursuant to the terms of the Resulting Issuer Escrow Agreement and in accordance with the requirements of the CSE, such parties will agree, inter alia, to place their entire shareholdings of Stillcanna Shares into escrow, with the following release provisions:
- 10% on the Effective Date;
- a further 15% on the date falling 6 months after the Effective Date;
- a further 15% on the date falling 12 months after the Effective Date;
- a further 15% on the date falling 18 months after the Effective Date;
- a further 15% on the date falling 24 months after the Effective Date;
- a further 15% on the date falling 30 months after the Effective Date; and
- all remaining escrowed securities on the date falling 36 months after the Effective Date.
- Subject to the Scheme becoming Effective, it is expected that the Locked-In Parties will hold, in aggregate, 80,518,086 Stillcanna Shares, representing, in aggregate, approximately 26.7 per cent. of the issued common shares of the Combined Group on completion of the Offer.
Commenting on the Offer on behalf of Stillcanna, Jason Dussault Chief Executive Officer of Stillcanna, said:
“Trust is the most important commodity a brand must procure and maintain to be successful and this is especially crucial in a nascent sector such as CBD wellness. The merger of the Sativa Group Plc and StillCanna Inc will secure this commodity through the stewardship of this special cannabinoid from seed through to cultivation and extraction, and now testing, bottling and distribution.”
Commenting on the Offer on behalf of Sativa, Henry Lees-Buckley, Chief Executive Officer of Sativa, said:
“We are very excited about the combination of the Sativa Group PLC and StillCanna Inc. This creates a true European “seed to consumer” CBD wellness and medicinal cannabis group; cultivating and extracting the highest quality CBD, through to developing and producing the highest quality finished consumer products. This integrated approach supported by optimized production capabilities and laboratory testing allows us to position our brands for strong sales growth not only in the UK but across Europe”, comments Henry Lees-Buckley, CEO of the Sativa Group PLC.
This summary should be read in conjunction with, and is subject to, the full text of this Announcement (including the Appendices). The Offer will be subject to the Conditions and certain further terms set out in Appendix I to this Announcement and to the full terms and conditions which will be set out in the Scheme Document. Appendix II to this Announcement contains the sources of information and bases of calculation of certain information contained in this Announcement. Appendix III to this Announcement contains a summary of the irrevocable undertakings received in relation to the Offer. Appendix IV to this Announcement contains definitions of certain terms used in this summary and the following content of this Announcement.
Any statement of intention, belief or expectation for the Combined Group following the Effective Date is an intention, belief or expectation of the Stillcanna Directors and not of the Sativa Directors.
A copy of this Announcement will be made available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, for inspection on Stillcanna’s website at www.stillcanna.com and Sativa’s website at www.sativagroup.co.uk, along with certain other documentation required to be posted online pursuant to the Code.
For further information please contact:
Chief Executive Officer
Sativa Group Plc
+44 (0) 20 7971 1255
Chief Financial Officer
Sativa Group Plc
+44 (0) 20 7971 1255
Peterhouse Capital Limited
(Financial Adviser to Sativa)
Guy Miller/Allie Feuerlein
+44 (0) 20 7220 9795
Peterhouse Capital Limited, which is authorised and regulated by the Financial Conduct
Authority in the United Kingdom, is acting exclusively as financial adviser to Sativa in connection with the Offer and other matters set out in this Announcement and for no-one else and will not be responsible to anyone other than Sativa for providing the protections afforded to its clients or for providing advice in relation to the Offer and other matters set out in this Announcement. Neither Peterhouse Capital Limited nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peterhouse Capital Limited in connection with this Announcement, any statement contained herein or otherwise.
This Announcement is made pursuant to Rule 2.7 of the Code and is for information purposes only and is not intended to, and does not, constitute or form part of any offer or invitation, or the solicitation of an offer, to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise nor will there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
The Offer will be made solely pursuant to the disclosures and information contained in the Scheme Document which, together with the Forms of Proxy, will contain the full terms and conditions of the Offer, including details of how Sativa Shareholders may vote at the Meetings in respect of the Offer.
Sativa will prepare the Scheme Document to be distributed to Sativa Shareholders (with input from Stillcanna, including with respect to information about the New Stillcanna Shares and the Combined Group). Sativa urges Sativa Shareholders to read the Scheme Document when it becomes available because it will contain important information in relation to the Offer, the New Stillcanna Shares and the Combined Group. Any vote in respect of the Scheme or other response in relation to the Offer should be made only on the basis of the information contained in the Scheme Document.
This Announcement does not constitute a prospectus or prospectus equivalent document.
If you are in any doubt about the contents of this Announcement or the action you should take, you are recommended to seek your own independent financial advice immediately from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser.
The release, publication or distribution of this Announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. Any failure to comply with the applicable requirements may constitute a violation of the securities laws of any such jurisdiction. In particular, the ability of persons who are not resident in the United Kingdom to participate in the Offer may be affected by the laws of the relevant jurisdictions in which they are located. This Announcement has been prepared for the purposes of complying with English law and with the Code and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws and regulations of jurisdictions outside the United Kingdom.
The Offer will be implemented in accordance with applicable English law and will be subject to the applicable requirements of the Code, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Panel and the AQSE Rules and also, as a result of Stillcanna being a Canadian company, listed or otherwise quoted on the CSE, the OTC and the FSE, with the applicable requirements of Canadian laws and the applicable policies of the CSE, OTC and FSE.
Unless otherwise determined by Stillcanna or required by the Code, and permitted by applicable law and regulation, the Offer will not be made directly or indirectly, in or into, or by the use of (electronic) mail or any means or instrumentality (including, but not limited to, facsimile, e-mail or other electronic transmission, telex or telephone) of interstate or foreign commerce of, or of any facility of a national, state or other securities exchange of any Restricted Jurisdiction and no person may vote in favour of the Scheme by any such use, means, instrumentality or facilities. Accordingly, copies of this Announcement, the Scheme Document, the notices of Court Meeting and General Meeting, the Forms of Proxy and all other documents relating to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any Restricted Jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in or into or from any Restricted Jurisdiction. All persons receiving this Announcement (including, without limitation, custodians, nominees and trustees) should observe these restrictions and any applicable legal or regulatory requirements of their jurisdiction and must not mail or otherwise forward, send or distribute this Announcement in, into or from any Restricted Jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Offer disclaim any responsibility or liability for the violation of such restrictions by any person.
The receipt of securities pursuant to the Offer by Overseas Shareholders may be a taxable transaction under applicable national, state and local, as well as foreign and other tax laws. Each Overseas Shareholder is urged to consult their independent professional adviser regarding the potential tax consequences of the Offer.
Further details in relation to Overseas Shareholders will be contained in the Scheme Document.
Additional information for US investors
These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States.
The New Stillcanna Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the “US Securities Act”) or under the securities laws of any State or other jurisdiction of the United States. Accordingly, the New Stillcanna Shares may not be offered, sold, resold, delivered, distributed or otherwise transferred, directly or indirectly, in or into the United States absent registration under the US Securities Act or an exemption therefrom. The New Stillcanna Shares to be issued pursuant to the Acquisition are expected to be issued in reliance upon the exemption from the registration requirements of the US Securities Act provided by Section 3(a)(10) thereof and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Sativa is incorporated under the laws of England and Wales and Stillcanna is incorporated under the laws of British Columbia. All of the officers and directors of Sativa and Stillcanna are residents of countries other than the United States. It may not be possible to sue Sativa and Stillcanna in a non-US court for violations of US securities laws. It may also be difficult to compel Sativa, Stillcanna and their respective affiliates to subject themselves to the jurisdiction and judgment of a US court.
The Acquisition will be implemented by way of the Scheme whereby Stillcanna will acquire all of the issued and outstanding share capital of Sativa in the manner provided for under Part 26 of the Companies Act. A transaction effected by way of a scheme of arrangement is not subject to the proxy solicitation or tender offer rules under the US Securities Exchange Act of 1934, as amended (the “US Exchange Act”). Accordingly, the Scheme is subject to the disclosure requirements, rules and practices applicable in the UK to schemes of arrangement and takeover offers, which differ from the disclosure requirements, style and format of US tender offer and proxy solicitation rules. If Stillcanna determines to extend the offer into the US, the Offer will be made in compliance with applicable US securities laws and regulations. Financial information included in this Announcement and the Scheme Document has been or will have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union that may not be comparable to financial information of US companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the US. However, if Stillcanna was to elect to implement the Acquisition by means of a contractual offer, rather than the Scheme, such offer will be made in compliance with all applicable laws and regulations, including Section 14(e) of the Exchange Act and Regulation 14E thereunder. Such offer would be made in the US by Stillcanna and no one else.
Neither the US Securities and Exchange Commission nor any securities commission of any state of the United States has approved or disapproved the Offer, nor have such authorities passed upon or determined the fairness of the Offer or the adequacy or accuracy of the information contained in this Announcement. Any representation to the contrary is a criminal offence in the United States.
Cautionary note regarding forward-looking statements
This Announcement contains certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Stillcanna and/or Sativa and/or the Combined Group and certain plans and objectives of Stillcanna with respect thereto. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as “anticipate”, “target”, “expect”, “estimate”, “intend”, “plan”, “goal”, “believe”, “hope”, “aims”, “continue”, “will”, “may”, “should”, “would”, “could” or other words of similar meaning. These statements are based on assumptions and assessments made by Stillcanna and/or Sativa (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this Announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this Announcement. Stillcanna does not assume any obligation to update or correct the information contained in this Announcement (whether as a result of new information, future events or otherwise), except as required by the Panel, the Code or by applicable law.
Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this Announcement. Neither Stillcanna nor Sativa undertakes any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except to the extent legally required.
There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, future exchange and interest rates, changes in tax rates, and future business combinations or dispositions.
For a discussion of important factors which could cause actual results to differ from forward-looking statements in relation to the Stillcanna Group or the Sativa Group, refer to the Filing Statement of the Stillcanna Group (once published) which is expected to be filed later this month and the annual report and accounts of the Sativa Group for its financial year ended 31 December 2019, respectively.
No member of the Stillcanna Group or the Sativa Group nor any of their respective associates, directors, officers, employees or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this Announcement will actually occur.
Except as expressly provided in this Announcement, no forward-looking or other statements have been reviewed by the auditors of the Stillcanna Group or the Sativa Group. All subsequent oral or written forward-looking statements attributable to any member of the Stillcanna Group or the Sativa Group, or any of their respective associates, directors, officers, employees or advisers, are expressly qualified in their entirety by the cautionary statement above.
No profit forecasts, quantified financial benefit statements or estimates
No statement in this Announcement is intended, or is to be construed, as a profit forecast, profit estimate or quantified financial benefit statement for any period. No statement in this Announcement should be interpreted to mean that earnings per Sativa Share or earnings per Stillcanna Share for the current or future financial years would necessarily match or exceed the historical published earnings per Sativa Share or earnings per Stillcanna Share.
Dealing and Opening Position Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of the offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th Business Day in London following the commencement of the offer period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th Business Day in London following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the Business Day in London following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of the offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel’s website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.
Publication on websites and availability of hard copies
This Announcement and the documents required to be published pursuant to Rule 26.1 of the Code will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on Stillcanna’s website at www.stillcanna.com and on Sativa’s website at www.sativagroup.co.uk by no later than 12.00 p.m. (London time) on the Business Day in London following this Announcement.
Neither the content of any website referred to in this Announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this Announcement.
Sativa Shareholders may request a hard copy of this Announcement by contacting Anne Tew (Sativa’s company secretary) by email to firstname.lastname@example.org or by submitting a request in writing to Anne Tew, Company Secretary, Sativa Group, The Blue Building Stubbs Lane, Beckington, Frome, Somerset, England, BA11 6TE. Sativa Shareholders may also request that all future documents, announcements and information to be sent to them in relation to the Offer should be in hard copy form. If you have received this Announcement in electronic form, copies of this Announcement and any document or information incorporated by reference into this Announcement will not be provided unless such a request is made.
Rule 2.9 information
Pursuant to Rule 2.9 of the Code, Stillcanna confirms that it has 110,874,747 common shares of no par value each in issue with International Securities Identification Number CA86071P1071. Pursuant to Rule 2.9 of the Code, Sativa confirms that it has 569,189,167 ordinary shares of 0.25p each in issue with International Securities Identification Number GB00BFX17474.
Please be aware that addresses, electronic addresses and certain other information provided by Sativa Shareholders, persons with information rights and other relevant persons for the receipt of communications from Sativa may be provided to Stillcanna during the Offer Period as required under Section 4 of Appendix 4 of the Code to comply with Rule 2.11(c) of the Code.
Certain figures included in this Announcement have been subjected to rounding adjustments. Accordingly, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.
All times shown in this Announcement are London times, unless otherwise stated.