12th Apr 2013 10:31
GW Pharmaceuticals plc
Results of General Meeting
Porton Down, UK, 12 April 2013: GW Pharmaceuticals plc (AIM: GWP or the "Company") hereby provides notification that, at the General Meeting of Company held earlier today, all the resolutions set out in the Notice of General Meeting sent to shareholders on 22 March 2013 were duly passed without amendment.
Today's General Meeting follows the announcement by the Company on 19 March 2013 of a proposed listing on the Nasdaq Global Market and U.S. Initial Public Offering of American Depositary Shares. The resolutions passed at today's General Meeting were required to be approved by shareholders in order to enable the Company to progress with these proposals.
Details of the proxy votes received in relation to each of the resolutions (which are more particularly described in the Notice of General Meeting) are as follows:
For | Against | Total votes | % of votes cast in favour | |
Resolution 1 | 75,322,784 | 2,321,791 | 77,644,575 | 97.0% |
Resolution 2 | 72,232,445 | 2,321,341 | 74,553,786 | 96.9% |
Resolution 3 | 71,748,029 | 2,805,757 | 74,553,786 | 96.2% |
Proxy forms which gave the Chairman and other Directors discretion have been included in the "For" total.
Resolutions 1 and 3 required the approval of not less than 75% of shareholder votes cast whilst Resolution 2 required a simple majority of votes cast.
As at 6.00 pm on 10 April 2013, the total number of ordinary shares of £0.001 each eligible to be voted at the General Meeting was 133,370,354.
Dr Geoffrey Guy, Chairman, said, "We are pleased that, for each of the resolutions proposed and passed at the shareholders meeting today, over 96% of the proxy votes cast by our shareholders were in favour. Having achieved the support of our shareholders we will now be able to progress to the next phase of the proposed U.S. public offering and Nasdaq listing."
For further information, please contact:
Enquiries:
GW Pharmaceuticals plc | |
Justin Gover, CEO | +44 1980 557000 |
Stephen Schultz, VP Investor Relations | + 1 401 500 6570 |
FTI Consulting (Media enquiries) |
+44 20 7831 3113 |
Ben Atwell / Simon Conway / John Dineen | |
Trout Group, LLC (US investor relations) |
+ 1 646 378 2900 |
Jonathan Fassberg / Seth Lewis / Danielle Spangler |
Peel Hunt LLP | +44 207 418 8900 |
James Steel / Vijay Barathan |
Notes to Editors
About GW Pharmaceuticals plc
Founded in 1998, GW is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW commercialized the world's first plant-derived cannabinoid prescription drug, Sativex®, which is approved for the treatment of spasticity due to multiple sclerosis in 20 countries. Sativex® is also in Phase 3 clinical development as a potential treatment of pain in people with advanced cancer. This Phase 3 program is intended to support the submission of a New Drug Application for Sativex® in cancer pain with the U.S. Food and Drug Administration and in other markets around the world. GW has established a world leading position in the development of plant-derived cannabinoid therapeutics and has a deep pipeline of additional cannabinoid product candidates, including two distinct compounds, GWP42004 and GWP42003, in Phase 2 clinical development for Type 2 diabetes and ulcerative colitis, respectively, and at least two additional programs expected to enter clinical trials in the next 12 months. For further information, please visit www.gwpharm.com
Related Shares:
GWP.L