LONDON, UK / ACCESSWIRE / January 7, 2022 / Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), the brand-led consumer goods company focussed on CBD health and wellness solutions, gives notice that a General Meeting (“GM”) will be held on 4 February 2022 at 10 am at 48 Warwick Street, London, W1B 5AW. At the meeting, resolutions will be proposed to receive and adopt the 30 June 2021 annual accounts and to approve the reduction of the share premium account of the Company as part of the implementation of a Share Incentive Plan.
In addition, during the course of the preparation of the Company’s financial results, the Board became aware that the value of the Company’s net assets is now less than half of its called-up share capital. In accounting terms, this is described as a “serious loss of capital”, as a result of which the Directors are required, pursuant to section 656(1) of the Companies Act 2006, to call a General Meeting to consider whether any, and if so, what, steps should be taken to address it. Accordingly, this matter will be addressed with Shareholders at the GM. Shareholders should note that they are not eligible to vote on this agenda item and will not be invited to do so at the GM. It Is for discussion only and relates to a technical accounting outcome.
Copies of the Notice of GM, together with the Form of Proxy and the Annual Report will be posted to shareholders and will be available to view on the Company’s website shortly at www.lovehempgroup.com.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please visit: www.lovehempgroup.comor contact:
About Love Hemp Group
Love Hemp Group is a brand-led consumer goods company focussed on health and wellness solutions for consumer use cases including sleep, pain, anxiety, stress and recovery. The Company is a pioneer in the UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics and topicals. The Company’s range of products are sold online across 70 websites and in over 2,000 stores including some of the biggest retailers in the UK, such as Holland & Barrett, Boots and Ocado. Listed on the Aquis Stock Exchange (AQSE: LIFE) the Company recently changed its name to Love Hemp Group plc, from World High Life, to better reflect its focus on supporting the “best in class” CBD brand as it embarks on a wider expansion of its core business and offering.
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SOURCE: Love Hemp Group PLC
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