IN BRIEF: Ananda Pharma plans to de-list from Aquis Stock Exchange

Ananda Pharma PLC - London-based developer of cannabidiol medicines to treat chronic conditions - Board proposes to de-list the company from Aquis Stock Exchange and become a private company, citing the cost of maintaining a listing and a dearth of liquidity for its shares. Ananda Pharma calls a general meeting of shareholders for December 12 to approve the plan.

"As you know I have funded Ananda with more than GBP10 million over the past 8 years," explains Executive Chair Charles Morgan. "Despite our best efforts, we have not managed to gain the funding support of the public markets, so we intend to delist the company while we progress MRX1 development and our clinical trials. This move will save Ananda around GBP500,000 per annum."

MRX1 is Ananda's drug candidate being tested as cannabinoid treatment for pelvic pain due to endometriosis.

Current stock price: 0.28 pence for GBP1.3 million market capitalisation

12-month change: down from 0.38p

By Tom Waite, Alliance News editor

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