TIDMHELD
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 Gen eral 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
GBP0. 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 GBP0.001 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
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
EUR17.39 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
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed 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 re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
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(END) Dow Jones Newswires
November 27, 2023 02:00 ET (07:00 GMT)
Hellenic Dynamics (LSE:HELD)
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Hellenic Dynamics (LSE:HELD)
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から 5 2023 まで 5 2024
