Source - LSE Regulatory
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 General 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 £0.001 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 £0.001 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 €17.39 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 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
CAREAKFKADLDFFA
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Related Charts

Hellenic Dynamics PLC (HELD)

0p (0.00%)
delayed 16:57PM