REG - Hellenic Dynamics - Delay to the publication of accounts & Suspension

Hellenic DynamicsAnnouncement

01/08/2024 08:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240801:nRSA6364Ya&default-theme=true

RNS Number : 6364Y  Hellenic Dynamics PLC  01 August 2024

1 August 2024

 

Hellenic Dynamics Plc

 

("Hellenic" or the "Company")

 

 

Final Results, update on receipt of €1 million loan and Temporary Suspension
of Trading of Ordinary Shares

 

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 global medical cannabis markets,
operating a 40,000 square meter cultivation licence from its 195,506 square
meter facility in Northern Greece, provides an update on the publication of
its final results for the year ended 31 March 2024 ("FY24 Results").

The Company announces that it will be unable to publish its FY24 Results by 31
July 2024, being the latest date permitted for publication of the FY24 Results
under DTR 4.1.3R.

 

This is principally due to the Company being unable to provide all of the
required information to its auditors, including confirmation of receipt of the
long term loan of €1 million as announced by 22 April 2024 ("Loan"), in
sufficient time for the FY24 Results to be signed off prior to 1 August 2024.

 

The Company now expects to be in receipt of the Loan by mid August 2024, and
publish its FY24 Results shortly thereafter.

The Company has therefore applied for and has been granted a temporary
suspension of the listing on the Official List of the Financial Conduct
Authority ("FCA") of its ordinary shares of 0.1p each ("Ordinary Shares") from
7.30 a.m. this morning until publication of its FY24 Results.

 

The Company expects to publish its FY24 Results during August 2024 and, until
then, the listing on the Official List of the FCA of its Ordinary Shares will
continue to be suspended temporarily.

The information contained within this announcement is deemed to constitute
inside information as stipulated under Article 7 of EU Regulation 596/2014
(which forms part of domestic UK law pursuant to the European Union
(Withdrawal) Act 2018) . Upon the publication of this announcement, this
inside information is now considered to be in the public domain.

The Directors of the Company accept responsibility for the content of this
announcement.

 

Enquires:

 

Hellenic Dynamics Plc
 
+44 (0)20 3818 7850

Davinder Rai
 
info@hellenicdynamics.com

 

Cairn Financial Advisers LLP

Emily Staples / Jo Turner
 
+44 (0)20 7213 0880

 

Peterhouse Capital - Brokers

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

 

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  SUSBXGDRXDXDGSB