Source - LSE Regulatory
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.

 

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  
 

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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