Greencare Capital - Result of AGM

29.06.21.

Greencare Capital plc

("Greencare" or "the Company")

Result of AGM

&

Board Change

Greencare, (AQUIS: GRE), the investment company focused on investing in medicinal cannabis, CBD and related areas announces the results of its Annual General Meeting held earlier today.

Resolutions 1 to 7 and Resolution 9 were duly passed by shareholders. Resolutions 10 and 11 were not passed by shareholders.  

Resolution 8 was withdrawn prior to the commencement of the meeting following advance notification by Mr Nicholas Lee, the Company's Non-Executive Chairman, of his intention to retire  from the board in order to spend more time on his other business interests. Mr Lee has agreed to remain with the Company in a consultancy role, to ensure an orderly transition of responsibilities. The Company has initiated a review of its senior management requirements, and will make further announcements in due course.

Greencare Chief Executive, Richard Tonthat, commented:

"On behalf of the Board, I would like to thank Nick for his service to Greencare since its flotation in December 2019, latterly as Chairman. He leaves the Company in a strong position, with it having made two recent investments and with an exciting pipeline of potential transactions which the Board is currently assessing.  We wish him well for the future.

"In light of the results above, and in keeping with The QCA principles, the Board will also actively seek to engage with shareholders regarding the Company's share issuance authorities."  

Enquiries:

Notes:

Greencare Capital plc is an investment company quoted on the Aquis Stock Exchange Growth Market ("AQSE"). The Company was incorporated on 1 October 2019 and its shares were admitted to trading on 30 December 2019.

The Company's investment strategy is to focus on investments in cannabis sectors within countries predominantly in Europe whose jurisdictions have well-developed and reputable laws and regulations for its production, research and distribution; together with the CBD and hemp sectors.

The Company will invest directly or indirectly in public or private companies, in supply and distribution chains, or other business associated with the cannabis sector. Investments may take the form of debt or equity and it is expected that such investments will ordinarily seek capital growth in the medium term in preference to income.

The Company will not invest in the recreational cannabis sector, or in entities or activities supported by it, nor any other related activities which would be deemed illegal under UK legislation.