28
March 2024
Hellenic Dynamics
plc
("Hellenic Dynamics" or the
"Company")
Part Discharge of Loan and
Accrued Interest and Issue of Equity
London, 28 March 2024: 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 that
Riverfort Securities Ltd ("Riverfort") has elected to subscribe for
ordinary shares of 0.1 pence each in Hellenic Dynamics ("Ordinary
Shares") in order to discharge part of an outstanding loan and
accrued interest which was issued pursuant to the mezzanine loan
announced 26 October 2023.
The loan and accrued interest of
£90,756.64 will be settled via the issue of 3,885,812 new Ordinary
Shares ("Loan Shares") at approximately 2.34 pence per share,
based on the terms of the agreement between Hellenic and
Riverfort.
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
3,885,812 Loan Shares in respect of the settlement. It is expected
that the Loan Shares will be admitted to trading and dealings will
commence on the LSE on or around 2 April 2024 ("Admission"). The
Loan 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 129,859,968 ordinary shares of
0.1 pence each. The figure 129,859,968 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.