Hellenic Dynamics PLC Result of AGM (2268O)

TIDMHELD

RNS Number : 2268O

Hellenic Dynamics PLC

29 September 2023

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

Result of Annual General Meeting ("AGM")

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, is pleased to announce that all resolutions put to the AGM were passed by shareholders on a show of hands. The proxy results received ahead of the AGM were:

 
 Resolution                                For                 Against         Withheld        Total 
                                                                                             votes cast 
                                     No. of         %       No. of      % 
                                      votes                  votes 
 
                                           ORDINARY RESOLUTIONS 
 1. To receive 
  the Company's 
  annual report 
  and accounts for 
  the period ended 
  31 March 2023                   1,955,917,606   100.00       0       0.00    440,466      1,955,917,606 
     2. To approve 
      the Directors' 
      Remuneration Policy         1,946,616,811   99.95    1,068,295   0.05   8,672,966     1,947,685,106 
     3. To approve 
      the Remuneration 
      Report                      1,946,629,311   99.95    1,055,795   0.05   8,672,966     1,947,685,106 
     4. To re-appoint 
      Sir Anthony Joliffe         1,946,856,246   99.57    8,456,034   0.43   1,045,792     1,955,312,280 
     5. To re-appoint 
      Mr Davinder Rai             1,954,623,746   99.96     688,534    0.04   1,045,792     1,955,312,280 
     6. To re-appoint 
      Mr Filippos Papadopoulos    1,954,629,311   99.97     682,969    0.03   1,045,792     1,955,312,280 
     7. To re-appoint 
      Mr Joseph Colliver          1,954,623,746   99.98     456,034    0.02   1,278,292     1,955,079,780 
 8. To re-appoint 
  PFK Littlejohn 
  LLP                             1,955,467,137   99.98     450,469    0.02    440,466      1,955,917,606 
 9. To authorise 
  the Directors 
  to determine the 
  auditor's remuneration          1,955,917,606   100.00       0       0.00    440,466      1,955,917,606 
 10. To authorise 
  the Directors 
  to allot shares                 1,935,355,786   99.95%    918,068    0.05   20,084,218    1,936,273,854 
                                            SPECIAL RESOLUTIONS 
 11. To authorise 
  the Directors 
  to disapply pre-emption 
  rights                          1,934,702,476   99.92    1,571,378   0.08   20,084,218    1,936,273,854 
 12. To authorise 
  calling of a general 
  meeting other 
  than annual general 
  meetings on 14 
  clear days' notice              1,954,196,001   99.94    1,103,779   0.06   1,058,292     1,955,299,780 
 

Notes :

A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution.

Enquires:

   Hellenic Dynamics plc                                                   [phone] 

Davinder Rai [e-mail]

Cairn Financial Advisers LLP

   Emily Staples / Jo Turner                                               [phone] 

Peterhouse Capital

   Lucy Williams / Charles Goodfellow                                [phone] 

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 EUR43.3 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 Dynamics 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

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September 29, 2023 10:17 ET (14:17 GMT)