7 April 2021
AfriAg Global plc
("AfriAg" or the "Company")
Posting of Supplementary Admission Document
The Company announces, further to the announcement of 19 March 2021, a supplementary admission document is being posted to shareholders today.
Pursuant to Apollon’s option to acquire 90% of the stock of Doc’s Place under a Right to Purchase Understanding (“Doc’s Place RPU”), and Apollon’s exclusive right to purchase the assets and assume certain liabilities and obligations of CBev under a Right to Purchase Understanding (“CBev RPU”), an additional risk factor is being brought to Shareholder’s attention.
A copy of the Chairman’s letter, including the additional risk factor, contained in the supplementary admission document, in the event that either the Doc’s Place RPU or CBev RPU is triggered, are set out in full below in this announcement without material amendment or adjustment.
Availability of the Supplementary Admission Document
The Supplementary Admission Document will be made available shortly online at www.afriagglobal.com.
The Directors of the Company accept responsibility for the contents of this announcement.
For additional information please contact:
AfriAg Global PLC
David Lenigas email@example.com
Peterhouse Capital Limited (Corporate Adviser)
Tel: +44 207 220 9795
Guy Miller firstname.lastname@example.org
AFRIAG GLOBAL PLC
(a company incorporated and registered in the
LETTER FROM THE CHAIRMAN OF AFRIAG GLOBAL PLC
Directors: Registered Office:
David Lenigas 34 North Quay
Hamish Harris Douglas,
7 April 2021
PROPOSED OFFER TO ACQUIRE THE ENTIRE ISSUED SHARE CAPITAL OF APOLLON FORMULARIES LTD
APPROVAL OF WAIVER OF OBLIGATIONS UNDER RULE 9 OF THE CITY CODE ON TAKEOVERS AND MERGERS
CHANGE OF NAME TO APOLLON FORMULARIES PLC
PLACING AND SUBSCRIPTION OF 50,000,000 NEW ORDINARY SHARES AT
NOTICE OF GENERAL MEETING
Since the posting of the Admission Document dated 17 March 2021, I am writing to bring to your attention an additional risk factors pertaining to the option to acquire Doc’s Place International, Inc. and/or CBev Ventures, Inc., with regards to the Proceeds of Crime Act 2002.
Doc’s Place International, Inc.
As stated in the Admission Document, Apollon has an option to acquire 90% of the stock of Doc’s Place under a Right to Purchase Understanding (“Doc’s Place RPU”), a company incorporated and existing in the
CBev Ventures, Inc.
As stated in the Admission Document, Apollon has an exclusive right to purchase the assets and assume certain liabilities and obligations of CBev, a company incorporated and registered in the
Additional Risk Factor pertaining to Doc’s Place and/or CBeb Ventures, Inc., in the event that either the Doc’s Place RPU or CBev RPU is triggered
Further investments by the Company in the medical cannabis and CBD wellness sector and the exercise of its right to purchase in respect of either Doc’s Place International Inc. and/or CBev Ventures, Inc. may be precluded by the laws in force from time to time in the
The Directors will take all precautions to ensure that:
- the activities of the Company are in compliance with the laws that are in force in
- the Company does not contravene POCA 2002.
The Directors will also ensure that the activities of any companies invested in by the Company in the future are and remain in compliance with the laws, regulations and guidelines of the jurisdictions in which they operate.
However there can be no guarantee that the Company will be able to successfully complete financial, legal, regulatory and technical due diligence in respect of any target company in which it is contemplating an investment including without limitation the right to purchase which it holds in respect of Doc’s Place International Inc. and/or CBev Ventures, Inc. If the Company fails to obtain:
1. an appropriate and unqualified opinion from suitably experienced and qualified local counsel in the jurisdiction in which any investment targets operate that its activities are in compliance with the local laws, regulations and guidelines; and
2. an appropriate and unqualified opinion from suitably qualified and experienced counsel in
then the Company will not be able to complete the investment into such target companies including, without limit, Doc’s Place International Inc. and/or CBev Ventures, Inc. This may have material adverse effects on the business, financial condition, results and/or future operations of the Company.
No other significant change
Save as disclosed in this Supplementary Admission Document, there have been no significant changes affecting any matter contained in the Admission Document and no significant new matter has arisen, the inclusion of information in respect of which would have been required to be included in the Admission Document if it had arisen at the time of its preparation.
The Existing Directors, who have been so advised by Peterhouse, consider that the Proposals and Resolutions set out in the notice of General Meeting are fair and reasonable, and in the best interests of the Company and its Shareholders as a whole and accordingly, unanimously recommend Shareholders to vote in favour of the Resolutions to be proposed at the General Meeting. In providing advice to the Directors, Peterhouse has taken into account the Directors’ commercial assessments.
Accordingly, the Existing Directors recommend that the Independent Shareholders vote in favour of the Resolutions to be proposed at the General Meeting, as they intend to do in respect of their own holdings of Ordinary Shares which amount, in aggregate, to 2,040,000 Ordinary Shares representing 6.43 per cent. of the Existing Ordinary Shares.
The following definitions apply throughout this document, unless the context requires otherwise:
|AFJ||Apollon Formularies Jamaica Limited, a private company registered in
|Apollon or AFL||Apollon Formularies Ltd, a private company registered in
|CBev||CBev Ventures, Inc., a company incorporated and registered in the
|Company||AfriAg Global PLC, a public limited liability company incorporated and registered in the
|Doc’s Place||Doc’s Place International, Inc., a company incorporated and registered in the
|Existing Directors||David Lenigas, Hamish Harris and Donald Strang, who are the directors of the Company as at the date of this Document but will be resigning with effect from Admission.|
|POCA||the Proceeds of Crime Act 2002.|
|Proposed Directors||together Stephen D. Barnhill, M.D., Nicholas Barnhill, Nicholas Andrew Ingrassia and Kevin Sheil, who will be the directors of the Company with effect from Admission.|
|RPU||Right to Purchase Understanding.|