Business
Results for the Year Ended 31 December 2019
Results for the Year Ended 31 December 2019.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 6884F\n Spinnaker Opportunities PLC\n 11 March 2020\n \n \n \n \n 11 March 2020\n \n \n \n \n \n Spinnaker Opportunities plc\n \n \n (\"Spinnaker\" or the \"Company\")\n \n \n \n \n Annual Report & Financial Statements for the Year Ended 31 December 2019\n \n \n \n Spinnaker Opportunities plc (LON: SOP), the Standard Listed cash shell focused on delivering a material acquisition in the cannabis processing industry, is pleased to announce its Full Year Audited Results for the year ended 31 December 2019.\n \n \n Period Highlights\n \n \n · \n The Company's shares were suspended from trading on the London Stock Exchange on 27 February 2019 following signature of Heads of Terms to acquire the entire issued share capital of Kanabo Research (\"Kanabo\") and trading remained suspended through the rest of the period and to date\n \n \n · \n A Share Purchase Agreement covering the acquisition of Kanabo was signed on 2 December 2019\n \n \n · \n The Company entered into a contractual investment commitment, for up to £1.4 million from a single professional investor, conditional on completion of the acquisition of Kanabo and re-admission to trading of the so-enlarged Group.\n \n \n \n Spinnaker Chairman, Andy Morrison, said\n \n :\n \n \n \n \"The year under review has been focused on delivery of the acquisition of Kanabo.\n \n \n \n \n \n Along with the management of Kanabo, we very much look forward to bringing the business to the London market to enable it to achieve its growth potential. The transaction has taken longer than expected, and is still not completed, but the Company remains positioned to be one of the first cannabis-related businesses to list on the London Stock Exchange.\"\n \n \n \n \n \n \n For further information, please visit \n \n http://www.spinnakeropportunities.uk/\n \n or contact the following:\n \n \n Peterhouse Capital (Financial Adviser and Joint Broker)\n \n \n Tel: +44 (0)20 7469 0930\n \n \n Guy Miller/ Lucy Williams / Eran Zucker\n \n \n SI Capital (Joint Broker)\n \n \n Tel: +44 (0)1483 413 500 / +44 (0) 203 871 4038\n \n \n Nick Emerson / Greg Mahoney\n \n \n Blytheweigh (Financial PR)\n \n \n Tel: +44 (0) 207 138 3224\n \n \n Camilla Horsfall / Megan Ray \n \n \n Market Abuse Regulation (MAR) Disclosure\n \n \n Cer...