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Sativa Group

Sativa Group receives Stillcanna shareholder approval for acquisition

Sativa Group plc (AQUIS:SATI) has announced that the Special Meeting held by Stillcanna Inc. on Thursday August 27, approved the acquisition of Sativa Group PLC through ordinary resolution which  was duly passed with over 99.9% of shares represented voting in favour of the motion, and less than 0.1% against.  

Further to the announcement issued by Sativa Group PLC on 20 August 2020, the Company gives notice that at the Scheme Sanction Hearing that was to be held today, at which the Court was to consider whether to exercise its discretion to sanction the Scheme, was adjourned.  The adjournment was requested and granted to clarify a procedural step taken following the order of the Court made at the Convening Hearing held on 20 July 2020.

The adjourned Scheme Sanction Hearing will take place at 10.00 a.m. (London time) on 3 September 2020 before the Honourable Mr Justice Snowdon. Trading in Stillcanna Inc. (to be renamed Sativa Wellness Group Inc.) is anticipated to recommence on the CSE, OTC Pink and FSE within the next two weeks.  Stillcanna Inc. will submit the AQSE admission application imminently, with trading on AQSE expected to commence on or shortly after the resumption of trading on the CSE.   

It is expected that the adjourned Scheme Sanction Hearing will be conducted remotely using Microsoft Teams. 

Any shareholder holding an interest in the Scheme Shares is entitled to attend the Scheme Sanction Hearing and to make representations to the Court, or to instruct counsel to attend the Scheme Sanction Hearing and to make representations to the Court on his or her behalf. 

If you wish to attend the Scheme Sanction Hearing, please notify Anne Tew, Company Secretary, at Anne.Tew@sativagroup.co.uk. When the link required to attend the Scheme Sanction Hearing is made available to the Company by the Court it will be shared with all holders of Scheme Shares that have notified the Company that they wish to attend. 

Capitalised terms used but not defined in this announcement have the meanings given to them in the scheme document published on 22 July 2020 containing the full terms and conditions of the acquisition by Stillcanna Inc. of the entire issued and to be issued share capital of the Company.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.