REG - Hellenic Dynamics - Result of General Meeting

Hellenic DynamicsAnnouncement

20/11/2023 16:30

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RNS Number : 0350U  Hellenic Dynamics PLC  20 November 2023

20 November 2023

 

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

 

Result of General Meeting

 

London, 20 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 burgeoning
European medical cannabis markets announces that all resolutions put to the
General Meeting held at 9 a.m. today were passed by shareholders on a show of
hands. The proxy results received ahead of the General Meeting were:

 

 Resolution                                      For                    Against              Withheld    Total votes cast
                                                 No. of votes   %       No. of votes  %
 ORDINARY RESOLUTIONS
 1.   Consolidation of Share Capital             4,837,628,987  98.17%  90,116,537    1.83%  22,032,009  4,927,745,524

 2. Sub-Division and Reclassification of Shares  4,835,697,769  98.17%  90,047,755    1.83%  24,032,009  4,925,745,524
 SPECIAL RESOLUTIONS
 3. Adoption of New Articles                     4,841,800,259  98.26%  85,582,526    1.74%  22,394,748  4,927,382,785

 

Following all resolutions being passed at the General Meeting, the Company
confirms its intention to adhere to the timetable set out in the Company's
announcement of 17 November 2023 -  'Timetable for the Proposed Capital
Reorganisation'.

 

In accordance with Listing Rule 14.3.6R(1) a copy of the circular and proxy
posted to shareholders in relation to the Capital Reorganisation can be found
on the National Storage Mechanism at:
www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
(http://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism)
.

 

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.

 

25 European countries now allow medical cannabis via prescription and the
European cannabis market is expected to reach €43.3 billion per annum by
2027. 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 23 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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