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Results of General Meeting

6th Jan 2014 12:18

RNS Number : 9737W
GW Pharmaceuticals PLC
06 January 2014
 



GW Pharmaceuticals plc

 

Results of General Meeting

 

Porton Down, UK, 6 January 2014: GW Pharmaceuticals plc (AIM: GWP, NASDAQ: GWPH 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 20 December 2013 were duly passed without amendment.

 

Today's General Meeting follows the announcement by the Company on 20 December 2013 of a proposed Public Offering on the Nasdaq Global Market 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

68,253,635

1,540,838

69,794,473

97.8%

Resolution 2

66,435,061

3,359,412

69,794,473

95.2%

 

Proxy forms which gave the Chairman and other Directors discretion have been included in the "For" total.

 

Resolution 1 required a simple majority of votes cast whilst Resolution 2 required the approval of not less than 75% of shareholder votes cast.

 

As at 10.00 a.m. on 4 January 2014, the total number of ordinary shares of £0.001 each eligible to be voted at the General Meeting was 177,988,687.

 

Dr Geoffrey Guy, Chairman, said, "We are pleased that, for each of the resolutions proposed and passed at the shareholders meeting today, over 95% 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."

 

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

 

 

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 24 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 a deep pipeline of additional cannabinoid product candidates, including Epidiolex which has received Orphan Drug Designation from the FDA for the treatment of Dravet syndrome, a severe infantile-onset, genetic, drug-resistant epilepsy syndrome. Our product pipeline also includes compounds in Phase 1 and 2 clinical development for glioma, ulcerative colitis, type2 diabetes, and schizophrenia.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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