Oxford Cannabinoid Technologies Says at Least 46.5% of Shareholders Support Board

By Jaime Llinares Taboada

Oxford Cannabinoid Technologies Holdings PLC said Friday that it has received irrevocable commitments from 46.5% of its shareholders to vote against the removal of the board.

The company said that it has invited GHS Capital Ltd., the holder that proposed to oust the company's chairman, chief executive and four nonexecutive directors, to withdraw the requisition. However, GHS, which owns 8.14% of Oxford Cannabinoid, didn't respond and therefore the meeting is expected to be held on April 6.

Shares in the cannabinoid medicines developer at 1312 GMT were up 1.6% at 1.63 pence.

Write to Jaime Llinares Taboada at @JaimeLlinaresT

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