REG - Hellenic Dynamics - Capital Reorganisation

Hellenic DynamicsAnnouncement

27/11/2023 07:00

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RNS Number : 6710U  Hellenic Dynamics PLC  27 November 2023

27 November 2023

 

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

 

Completion of Capital Reorganisation

 

London, 27 November 2023, Hellenic Dynamics Plc (LSE: HELD), a medical
cannabis cultivator with a dedicated focus on producing tetrahydrocannabinol
("THC") dominant strains of medical cannabis flowers for the fast growing
European medical cannabis markets announces that, following the approval of
the Capital Reorganisation at the General Meeting held on 20 November 2023,
applications have been made to the Financial Conduct Authority and the London
Stock Exchange respectively, for the New Ordinary Shares resulting from the
Capital Reorganisation to be admitted to the Official List and to trading on
the London Stock Exchange's main market for listed securities in place of the
Existing Ordinary Shares. It is expected that the 125,300,000 New Ordinary
Shares of £0.001 each will be admitted to trading and dealings will commence
on the London Stock Exchange at or around 8:00 a.m. today.

 

As a result of the Capital Reorganisation, Shareholders will receive 1 New
Ordinary Share in substitution for every 100 Existing Ordinary Shares held.
The New Ordinary Shares have the same rights as the Existing Ordinary Shares,
including voting, dividend and other rights. Immediately following the
implementation of the Capital Reorganisation, it is expected that the market
price of a New Ordinary Share should be approximately equal to a multiple of
100 times the market price of an Existing Ordinary Share immediately
beforehand. Existing Shareholders will own the same proportion of the Company
as they did immediately prior to the implementation of the Capital
Reorganisation, subject only to fractional rounding.

 

As at 27 November 2023, the Company's issued ordinary share capital consists
of 125,300,000 ordinary shares of £0.001 each and therefore the total number
of voting rights in the Company, attributable to such ordinary shares, is
125,300,000. This figure should be used by shareholders as the denominator for
calculations by which they can determine if they are required to notify their
interest in, or a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Capitalised terms used but not otherwise defined in this announcement have the
meanings shall have the meanings set out in the Circular, which is available
on the Company's website at: https://www.hellenicdynamics.com
(https://www.hellenicdynamics.com)

 

The Directors of the Company take responsibility for this announcement.

 

Enquires:

 

 Hellenic Dynamics plc               +44 (0)20 3818 7850
 Davinder Rai                        davinder@hellenicdynamics.com

 Cairn Financial Advisers LLP        +44 (0)20 7213 0880
 Emily Staples / Jo Turner

 Peterhouse Capital                  +44 (0)20 7469 0930
 Lucy Williams / Charles Goodfellow

 

About Hellenic Dynamics plc

 
Founded in 2019, Hellenic Dynamics is specifically focused on the cultivation
and supply of THC ("tetrahydrocannabinol") - dominant strains of medical
cannabis flowers, destined for the growing medical cannabis markets
across Europe. Hellenic Dynamics' core strategy is to develop and operate its
40,000 square metre active cultivation licence from its 195,506 square metre
facility located near Thessaloniki in Northern Greece. In full production,
Hellenic Dynamics is capable of producing over 54,000 kg of dried flowers per
annum.
 
Hellenic Dynamics will take advantage of its relatively low cost base
resulting from a comparatively low cost of power, having its own running
water supply and the labour rates for skilled and semi-skilled labour in
Northern Greece.
 
26 European countries now allow medical cannabis via prescription and the
European cannabis market is expected to reach €17.39 billion per annum by
2028. Sales of Hellenic Dynamics' dried THC-dominant cannabis flowers and
extracts are initially intended for export into Europe's largest market -
Germany, in addition to other European markets including domestically in
Greece.

 
As the first medical cannabis cultivator to obtain a listing on the main
market for listed securities of the London Stock Exchange, Hellenic is
significantly different to the number of CBD (Cannabidiol) related companies
that have appeared over the recent years. Hellenic Dynamics cultivates
THC-dominant medical cannabis flowers. THC-dominant medical cannabis products
are only available via a medical prescription. Medicinal cannabis has been
approved for use both in the United Kingdom and Germany, plus 24 other
European countries, for conditions including but not limited to chronic pain,
intractable chemotherapy-related nausea, anxiety, insomnia,
Tourette's syndrome, substance use disorder, multiple sclerosis, IBS, spinal
cord treatment, lack of appetite due to HIV/AIDS, cachexia, anorexia and
glaucoma.

For further information please visit our website www.hellenicdynamics.com
(http://www.hellenicdynamics.com)

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

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