Ananda Developments Plc (AQSE:ANA), the R&D company focused on CBD-based therapies for complex inflammatory pain conditions, has graduated to the senior Apex segment of the Aquis Stock Exchange Growth Market.
Effective 8am Monday, the move underlines Ananda's growth and adherence to higher corporate governance standards.
The Apex segment is for larger businesses with proven growth strategies and stricter criteria, including a £10 million market capitalisation, at least 25% of shares in public hands, and compliance with corporate governance codes.
This transition encourages greater liquidity and allows for simplified dual-listing on other growth markets.
"The move to the Apex segment is recognition of the commitment of the team to evolve Ananda into a sophisticated life sciences company, with a clear strategy and promising results," said Ananda chief executive Melissa Sturgess.
"Apex provides even further visibility for investors, and we welcome the increased emphasis on transparency, liquidity and corporate governance which aligns entirely with our own internal ideals."