MGC Pharmaceuticals : Change in directors' interests x 6 and cessation of CFO

12 April 2022 ASX Code: MXC LSE Code: MXC

Lapse of Performance Rights, Directors 3Y's and new London based Chief Financial Officer

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') provides the accompanying Appendix 3Ys "Change in Director's Interest Notice" to inform the market of the recent change to directors' interests in the Company which resulted from the lapse of Performance Rights previously granted to the directors due to a vesting condition not being satisfied.

MGC Pharma would also like to advise that Mr Daniel Kendall has ceased in his role as Chief Financial Officer for the Company, with Mr Roby Zomer, the Company's Managing Director and CEO assuming the interim CFO role and responsibilities until a new CFO is appointed.

Due to the significant increase in the Company's European Union and Israeli manufacturing and research operations, the Company has determined that it is best served with a London based CFO to manage the financial and accounting operations of the rapidly growing MGC Pharma business.

Following the LSE dual listing in early 2021, a number of the corporate functions of the business have been transferred to London, with the soon to be appointed CFO, and the Company's Managing Director & CEO Roby Zomer to relocate there shortly.

The Board would like to wish Mr Kendall the best for his future endeavours.

--Ends--

Authorised for release by the Executive Chairman, for further information please contact:

MGC Pharmaceuticals Ltd	MGC Pharmaceuticals Ltd
Roby Zomer	David Lim
CEO & Managing Director	Company Secretary
[phone]	[phone]
[e-mail]	[e-mail]
UK Broker - Turner Pope	UK PR Advisors - Tavistock
Andy Thacker	Charles Vivian / Tim Pearson
[phone]	[phone]
[e-mail]	[e-mail]
About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytomedicines to patients globally. The Company's founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived medicines for the growing demand in the medical markets in Europe, North America and Australasia. MGC Pharma has a robust product offering targeting two widespread medical conditions - epilepsy and dementia - and has further products in the development pipeline.

Employing its 'Nature to Medicine' strategy, MGC Pharma has partnered with renowned institutions and academia to optimise cultivation and the development of targeted phytocannabinoid derived medicines products prior to production in the Company's EU-GMP Certified manufacturing facility.

MGC Pharma has a number of research collaborations with world renowned academic institutions, and including recent research highlighting the positive impact of using specific phytocannabinoid formulations developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and so far therapeutically resistant primary brain tumour.

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MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market.

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Rule 3.19A.2 Rule 3.19A.2

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Chitta Lu Limited (Director and sole shareholder) & HSBC Custody Nominees (Australia) Limited
Date of change	1. 2. & 3. 14 October 2021 6 April 2022
No. of securities held prior to change	Chitta Lu Limited 3,000,001 Fully Paid Ordinary Shares 5,000,000 Performance Rights 7,500,000 Performance Rights Class A expiring 1 April 2025 17,500,000 Performance Rights Class B expiring 1 April 2025 2,400,000 Performance Rights Class C expiring 30 June 2024 HSBC Custody Nominees (Australia) Limited 30,000,000 Fully Paid Ordinary Shares
Class	1. Fully Paid Ordinary Shares 2. Performance Rights 3. Performance Rights Class A expiring 1 April 2025

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity

ABN

MGC Pharmaceuticals Limited 30 116 800 269

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Roby Reuven Zomer
Date of last notice	9 September 2021

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Number acquired	1. 3,000,000 transfer to HSBC Custodian holding account from Chitta Lu Ltd account
Number disposed	1. 3,000,000 transfer from Chitta Lu Ltd account to HSBC Custodian holding account 2. 2,500,000 3. 7,500,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1. $Nil - transfer between holding accounts 2. $Nil - Lapse of Performance Rights 3. $Nil - Lapse of Performance Rights
No. of securities held after change	Chitta Lu Limited 1 Fully Paid Ordinary Shares 2,500,000 Performance Rights 17,500,000 Performance Rights Class B expiring 1 April 2025 2,400,000 Performance Rights Class C expiring 30 June 2024 HSBC Custody Nominees (Australia) Limited 33,000,000 Fully Paid Ordinary Shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	1. Transfer between holding accounts 2 & 3. Lapse of Performance Rights

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

Part 3 - +Closed period

Appendix 3Y Page 2

01/01/2011

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?