1
August 2024
Hellenic Dynamics
Plc
("Hellenic" or the "Company")
Final Results, update on
receipt of €1 million loan and Temporary Suspension of Trading of
Ordinary Shares
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, operating a 40,000 square meter
cultivation licence from its 195,506 square
meter facility in Northern Greece, provides an update on the
publication of its final results for the year ended 31 March 2024
("FY24 Results").
The Company announces that it will be unable to publish its FY24
Results by 31 July 2024, being the latest date permitted for
publication of the FY24 Results under DTR 4.1.3R.
This is principally due to the
Company being unable to provide all of the required information to
its auditors, including confirmation of receipt of the long term
loan of €1 million as announced by 22 April 2024 ("Loan"), in
sufficient time for the FY24 Results to be signed off prior to 1
August 2024.
The Company now expects to be in
receipt of the Loan by mid August 2024, and
publish its FY24 Results shortly thereafter.
The
Company has therefore applied for and has been granted a temporary
suspension of the listing on the Official List of the Financial
Conduct Authority ("FCA") of its ordinary shares of 0.1p each
("Ordinary Shares") from 7.30 a.m. this morning until publication
of its FY24 Results.
The Company expects to publish its
FY24 Results during August 2024 and, until then, the listing on the
Official List of the FCA of its Ordinary Shares will continue to be
suspended temporarily.
The information contained within
this announcement is deemed to constitute inside information as
stipulated under Article 7 of EU Regulation 596/2014 (which
forms part of domestic UK law pursuant to the European Union
(Withdrawal) Act 2018) . Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
The Directors of the Company accept
responsibility for the content of this announcement.
Enquires:
Hellenic Dynamics Plc
+44 (0)20 3818 7850
Davinder Rai
info@hellenicdynamics.com
Cairn Financial Advisers LLP
Emily Staples / Jo Turner
+44 (0)20 7213 0880
Peterhouse Capital - Brokers
Lucy Williams / Charles Goodfellow
+44 (0)20 7469 0930
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.