Fragrant Prosperity Holdings Ltd Expansion of investment mandate (1208Q)
February 24 2021 - 2:00AM
UK Regulatory
TIDMFPP
RNS Number : 1208Q
Fragrant Prosperity Holdings Ltd
24 February 2021
24 February 2021
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Fragrant Prosperity Holdings Limited
("FPP" or the "Company")
Expansion of investment mandate
Fragrant Prosperity Holdings Limited (the "Company") was
originally listed on the London Stock Exchange's Main Market to
seek to acquire a target company or business with a particular
focus on the financial services sector. Whilst the Company
continues to assess targets in this sector, it is now announcing
today a broadening of its investment horizon to the medicinal
cannabis and CBD Wellness sectors.
The Board has noted the guidance last year from the Financial
Conduct Authority regarding admission of medicinal cannabis
companies and cannabis oil companies to the Official List and the
subsequent listings on the standard segment of the Official List of
the Israeli based Kanabo Group plc and the internationally based
MGC Pharmaceuticals Ltd. Given the international connections of the
board, this has led to the Company being presented with a number of
investment opportunities in the medicinal cannabis and CBD Wellness
Sector both in the UK and overseas. To date the Company has not
taken these forward but the Board has decided that in addition to
opportunities in the financial services sector it will begin to
actively consider opportunities in medicinal cannabis and CBD
Wellness and has selected UK counsel with experience in listing
cannabis businesses in the UK to assist with this process.
Additionally, the Company is considering appointing one or more new
directors with experience in the pharmaceutical and therapeutics
fields in order to assist with the evaluation of possible
opportunities. The Company is in advanced discussions with several
potential director candidates but no agreement has yet been
reached. The Company will update the market in due course.
The Company since joining the market has been continually
evaluating potential investments and is currently considering a
number of opportunities. However, discussions in respect of these
opportunities are at a very early stage and no agreement has been
made with any of the relevant target companies or businesses.
Therefore, there is no certainty that any of the current
discussions will progress further and/or result in the Company
concluding a transaction.
*Ends*
For more information:
http://www.fragrantprosperityholdings.com/
Fragrant Prosperity Holdings Limited
Simon Retter/Craig Marshak +44 (0) 20 3137 1902
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