viewSativa Group PLC

Sativa explores AIM listing in 2020

The company, which currently trades on the NEX exchange, is "keen to pursue an admission to AIM as soon as practicable in the New Year"

Sativa Group PLC - Sativa explores AIM listing in 2020
Sativa operates a number of cannabis businesses including a growing facility

Sativa Group PLC (LON:SATI) is exploring a potential listing on AIM next year following a number of significant developments for the medicinal cannabis group.

The firm, which currently trades on the NEX exchange, said it had appointed Cenkos Securities to explore a potential AIM listing, although there was no guarantee that this would be achieved.

READ: Sativa Group appoints new member to medical advisory board

Sativa’s possible move to AIM follows a number of senior appointments to the group as it focuses on consumer products containing cannabidiol (CBD), a medicinal chemical derived from cannabis plants.

One such appointment is Richard Bunce, Sativa’s product and procurement manager, who joined the group after holding positions at companies such as plumbing and heating group Wolseley, Pets at Home Group PLC (LON:PETS) and Homebase.

Sativa has also appointed Alan Horton as director of retail sales for its online CBD products group, Goodbody Botanicals, to leverage what they say is his “significant CBD industry experience” as well as his experience selling to major UK high street grocery and pharmacy retailers.

Aside from Goodbody, Sativa also operates the Tessellate Collective, a direct-selling platform to consumers, and Phytovista Laboratories, which provides independent testing of CBD products for both external customers and the rest of Sativa’s businesses.

The firm also runs a cannabis cultivation partnership with King’s College London, which in October was granted a licence by the UK Home Office to grow and supply cannabis containing more than 0.2% tetrahydrocannabinol (THC), the plant’s main psychoactive compound.

Sativa said the first batch of seedlings at its growing facility are “thriving” and are now being prepared to be moved to the cultivation room.

The first extract of medicinal cannabis oil will be delivered to King’s for testing next month, while the growing cycle of the plants means the firm will be able to harvest four crops per year.

In early trading on Monday, Sativa’s shares were trading at around 5.7p on the NEX exchange.

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