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Same. New shares issued but as for ‘Cleansing Notice’ is that just removing the original obligations to issue further shares arising from this specific agreement ? Don’t know, basic explanation would be appreciated.
Looks like a share bonus issued to employees of MGC, and a paper payment for its aquisition of MediCaNL.
Everyone knew it was comming so shouldn't impact SP.
In short no change.
can someone dumb this down for me please, I dont understand this.....
2 x RNS just out
MGC Pharmaceuticals Ltd.
Notification of ASX Market Announcements
20 September 2021
ASX, LSE: MXC
MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') advises that the following Announcements were released on the ASX Market Announcements Platform today.
· Appendix 2A - Application for quotation of 17,923,153 Fully Paid Ordinary Shares issued as deferred purchase consideration in relation to the acquisition of MediCaNL Inc in April 2021 (Refer ASX announcement dated 22 April 2021).
A copy of the ASX Announcement (Appendix 2A) can be found at the following URL:
https://wcsecure.weblink.com.au/pdf/MXC/02423626.pdf
· Appendix 2A - Application for quotation of 300,000 Fully Paid Ordinary Shares issued on the exercise of 300,000 Employee Performance Rights
A copy of the ASX Announcement can be found at the following URL:
https://wcsecure.weblink.com.au/pdf/MXC/02423628.pdf
· Issue of a "Cleansing Notice" required under s708A(5)(e) of the Australian Corporations Act 2001 (Cth) in relation to the issue of the above shares.
A copy of the ASX Announcement can be found at the following URL:
https://wcsecure.weblink.com.au/pdf/MXC/02423633.pdf
--Ends--
Authorised for release by the Executive Chairman, for further information please contact:
MGC Pharmaceuticals Ltd
Roby Zomer
CEO & Managing Director
+61 8 6382 3390
info@mgcpharma.com.au
MGC Pharmaceuticals Ltd
David Lim
Company Secretary
+61 8 6382 3390
info@mgcpharma.com.au
UK Broker - Turner Pope
Andy Thacker
+44 203 657 0050
info@turnerpope.com
UK PR Advisors - Tavistock
Charles Vivian / Tim Pearson
+44 207 920 3150
mgcpharma@tavistock.co.uk
About MGC Pharma
MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytocannabinoid derived medicines to patients globally. The Company's founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived medicines for the growing demand in the medical markets in Europe, North America and Australasia. MGC Pharma has a robust product offering targeting two widespread medical conditions - epilepsy and dementia - and has further products in the development pipeline.
Employing its 'Nature to Medicine' strategy, MGC Pharma has partnered with renowned institutions and academia to optimise cultivation and the development of targeted phytocannabinoid derived medicines products prior to production in the Company's EU-GMP Certified manufacturing facility.
MGC Pharma has a number of research collaborations with world renowned academic institutions, and including recent research highlighting the positive impact of using specific phytocannabinoid formulations developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and so far therapeu