REG - Hellenic Dynamics - Winding-Up Petition

Hellenic DynamicsAnnouncement

01/08/2024 13:15

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RNS Number : 8379Y  Hellenic Dynamics PLC  01 August 2024

1 August 2024

 

Hellenic Dynamics Plc

 

("Hellenic" or the "Company")

 

 

Winding-Up Petition

 

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, announces that it has
today received a copy of a winding-up petition brought against it by Hill
Dickinson LLP, the Company's legal advisers, in relation to debts owed by the
Company of £85,058.83 (plus interest which has been accruing at a daily rate
of £21.29 since the date of the winding-up petition) ("Petition"). The
Petition which has been brought pursuant to section 122(1)(f) of the
Insolvency Act 1986 is dated 16 July 2024. The Petition has been filed with
the court and the Company's hearing date is scheduled for 28 August 2024.

 

The Company has been informed that in order to prevent this action it must
make payment in full immediately, so the court proceedings can be withdrawn
and all action ceased. Until such payment is received proceedings will
continue accordingly.

 

In order to be in a position to make full payment the Company is relying on
receipt of the €1 million long-term loan announced on 22 April 2024 which is
now due by mid-August 2024 and before the scheduled court hearing date of 28
August 2024.

 

The Company is in contact with Hill Dickinson LLP and Wedlake Bell LLP
(solicitors to Hill Dickinson LLP in relation to this matter) regarding the
Petition and will update the market in due course.

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

 

 

 

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