CITY WHISPERS: David Beckham’s CBD Relief Can’t Come Soon Enough
CITY WHISPERS: David Beckham-backed Cellular Goods shareholders are still waiting for the release of cannabidiol sports treatments
Cellular Goods, backed by David Beckham, espoused the virtues of cannabidiol-infused skincare in a white paper last week.
As anyone who follows wellness trends knows, cannabidiol (CBD) is the non-psychoactive compound in cannabis plants now used in creams, oils, and even edible gummies for relaxation and pain relief. .
But Cellular Goods investors are already aware of its benefits, as the only products it has launched so far are related to skincare.
On the sidelines: Ex-footballer David Beckham owns 5% stake in Cellular Goods
The company is believed to have attracted the former footballer, who has a 5% stake, over plans for sports CBD treatments, such as creams that athletes and gym bunnies could use to speed healing.
This was originally supposed to release in the spring of 2022, but is now expected next year.
Shareholders in the group – whose value has risen from £20m to £9m – might prefer a clearer timeline on research that preaches to an already enthusiastic choir.
Vin Murria ready for an “activist” campaign
Activist investors tend to use the element of surprise to help shake up a company, but not Vin Murria.
Britain’s ‘Tech Queen’ has presented what looks like an activist campaign if her takeover of ad agency M&C Saatchi fails.
Shareholders have until September 30 to accept his offer.
If they reject her and an offer from Next Fifteen Communications, she said she “would not support the status quo” and would “engage” with the board “to implement changes to realizing the company’s potential”.
Aston Martin is still trying to shore up its balance sheet
Aston Martin unveiled plans for another massive share sale on Monday as the James Bond favorite desperately tries to shore up its balance sheet.
Shareholders, likely still nursing their wounds from previous fundraising efforts, will see the value of their stakes decline further.
But it could be another expense windfall for the groups providing the funding.
Buried in the supercar maker’s prospectus for the deal, it is revealed that the banks working on the fundraising – JPMorgan, Barclays, Credit Suisse and Deutsche Bank – are in line for a 3% commission on the full amount.
If Aston can secure the full £575.8m they are eyeing, the four lenders will be in line for £17.3m to split between them.
Energy Delights City
Gas explorer Energean delighted the city last week by declaring its first dividend ahead of schedule.
The 26p per share payout was made possible by the “strong cash flow” generated by parts of the business bought from Italian Edison in 2019.
This includes a small presence in the North Sea, which the £2.2bn company originally wanted to whip up shortly after the deal was struck.
Boss Mathios Rigas made it clear at the time that he only wanted operations within a three-hour flight from the company’s Athens base, ruling out four hours to Britain.
But maybe it wasn’t a bad thing that a deal to sell the assets to Britain’s Neptune Energy fell through in 2019 – and maybe a slightly longer flight isn’t a problem after all ?