REG - Hellenic Dynamics - Further re: Winding-Up Petition

Hellenic DynamicsAnnouncement

Thu 13:00

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RNS Number : 6510P  Hellenic Dynamics PLC  03 July 2025

03 July 2025

 

Hellenic Dynamics plc

 

("Hellenic Dynamics" or the "Company")

 

Further re: Winding-Up Petition

 

Hellenic Dynamics Plc (LSE: HELD), a medical cannabis cultivator focussed on
producing medical cannabis flowers for global markets, announces that,
following a ruling on 2 July 2025 by ICC Judge Briggs in the High Court, the
application for a rescission of the winding-up order has been refused.

 

As previously outlined in announcements, the Company has consistently
maintained that the petitioner should not have been deemed a creditor.  At
the time the petition was filed, the Company was not under significant
pressure from its  creditors and had secured the support of funding partners
to continue its operations. Over several months and a number of hearings, the
former directors committed significant time, energy, and financial resources
to seeking a rescission and a viable outcome for all stakeholders, which
includes personally bearing the legal costs associated with seeking the
rescission. The Company had identified a number of potential funding partners
during this period but, as a result of the position the Company found itself
in, it was not able to secure the necessary funding.

 

The Company continues to explore options to preserve value for creditors and
shareholders, in so far as possible.

 

 

Enquires should be directed to the Official Receiver which can be contacted on
0300 678 0015 or Nottingham.OR@insolvency.gov.uk
(mailto:Nottingham.OR@insolvency.gov.uk) .

 

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication
of this announcement, this information is now considered to be in the public
domain.

 

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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