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HELD Hellenic Dynamics Plc

2.80
-0.10 (-3.45%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hellenic Dynamics Plc LSE:HELD London Ordinary Share GB00BRXCFB77 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10 -3.45% 2.80 2.70 2.90 2.90 2.80 2.90 279,838 15:38:42
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gen Contractor-nonres Bldgs 0 -4.86M -0.0004 -70.00 350.84M

Hellenic Dynamics PLC Settlement of Fees and Issue of Equity

04/03/2024 7:00am

RNS Regulatory News


RNS Number : 3341F
Hellenic Dynamics PLC
04 March 2024
 

4 March 2024

 

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

 

 

Settlement of Fees and Issue of Equity

 

 

London, 4 March 2024: Further to the Company's announcement dated 26 October 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 global medical cannabis markets, announces the settlement of fees through the issue of equity as per the terms of the agreement with Riverfort Securities Ltd ("Riverfort") in respect of the mezzanine loan. The payment of the drawdown fee of £21,322 will be settled via the issue of 674,156 new ordinary shares of 0.1 pence each in Hellenic Dynamics ("Fee Shares") at 3.17 pence per share, based on the average of the preceding 5-day VWAP at market close on 27 February 2024.

 

Admission and Total Voting Rights

 

Applications have been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange Group Plc ("LSE") for the admission to the Official List of the FCA and to trading on the Main Market of the LSE respectively, of the 674,156 Fee Shares in respect of the settlement. It is expected that the Fee Shares will be admitted to trading and dealings will commence on the LSE on or around 5 March 2024 ("Admission"). The Fee Shares will rank pari passu in all respects with the Company's existing ordinary shares of 0.1 pence each, currently traded on the Main Market of the London Stock Exchange.

 

Following Admission, the Company's issued share capital will comprise 125,974,156 ordinary shares of 0.1 pence each. The figure 125,974,156 will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation 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 and Transparency Rules.

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

 

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 global medical cannabis markets. 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, in addition to other international markets and 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.
 
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