TIDMHELD
RNS Number : 5232I
Hellenic Dynamics PLC
05 December 2022
05 December 2022
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE
OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE
WITHIN THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE
UNITED STATES OR ANY OTHER JURISDICTION. INVESTORS SHOULD NOT
SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS
ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION IN THE ADMISSION
DOCUMENT PUBLISHED BY HELLENIC DYNAMICS PLC IN CONNECTION WITH THE
PROPOSED ADMISSION OF ITS ORDINARY SHARES TO TRADING ON THE LONDON
STOCK EXCHANGE.
Hellenic Dynamics Plc
(Formerly U.K. SPAC Plc)
("Hellenic Dynamics" or the "Company")
Admission to the London Stock Exchange
and
First Day of Dealings
Hellenic Dynamics Plc (formerly U.K. SPAC Plc) announces that
admission of the Company's ordinary shares to trading on London
Stock Exchange ("Admission") will take place and dealings will
commence at 8.00 a.m. today under the ticker HELD (ISIN:
GB00B3CQW227).
Highlights
The Company has raised gross proceeds of GBP1.125 million
through a fundraising where the number of subscribers exceeded the
number of shares on offer.
Hellenic Dynamics plans to cultivate and export THC dominant
medical cannabis products to the 25 countries in Europe that now
allow medicinal cannabis for patients via prescription.
The European cannabis market is expected to reach EUR37 billion
by 2027, twice the size of the Canadian and North American markets
combined.
Hellenic Dynamics operates from a 195,506 square meter facility
in northern Greece, which in full production is capable of
producing over 54,000kg of dried medical cannabis flowers per
annum. The facility benefits from low power costs as well as local,
competitive skilled and semi-skilled labour rates.
For the next 12 months, the Company will continue to its core
strategic objectives, which are to fulfil two term sheets for
offtake of THC dominant medical cannabis products into Germany's
advanced medical cannabis market, secure further supply lines into
the UK, increase total cultivation area in line with the European
cannabis demand.
At Admission, the Company will acquire Hellenic Dynamics S.A.
for consideration of GBP31,243,342.59. The consideration is being
satisfied by the issue of 10,414,447,530 new ordinary shares in the
Company at the price of 0.3 pence per share. In conjunction with
Admission, the Company has raised gross proceeds of GBP1.125
million through a fundraising that is comprised of a GBP750,000
subscription and a GBP375,000 convertible loan note, both at an
issue price of 0.3 pence per share. Peterhouse Capital Limited
acted as Financial Advisers to the transaction.
Davinder Rai, CEO of Hellenic Dynamics, commented:
"Today marks an important milestone not just for Hellenic
Dynamics, but for millions of patients across Europe who are
looking to be prescribed THC dominant medical cannabis. At the
beginning of this pioneering transaction both the directors of
Hellenic and UK SPAC knew we were forging new tracks for the FCA,
and the London Stock Exchange and today's Admission is testament to
the entire transaction team.
Hellenic Dynamics is more committed than ever in its ambition to
be the dominant supplier of high quality and competitively priced
dried medical cannabis flowers to patients across all 25 European
counties that allow medical cannabis by prescription"
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules, on admission the Company will have
12,530,000,000 ordinary shares of 0.1 pence each in issue, each
share carrying the right to one vote. The figure of 12,530,000,000
should be used by shareholders in the Company as the denominator
for the calculations by which they will 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.
For further information, please refer to the full prospectus
published at
https://data.fca.org.uk/artefacts/NSM/Portal/NI-000063506/NI-000063506.pdf
or contact the following:
Hellenic Dynamics Plc (formerly known as UK SPAC Plc)
Tel: +44 (0)203 818 7850
Davinder Rai
Cairn Financial Advisers LLP
Tel: +44 ( 0)20 7213 0880
Jo Turner / Sandy Jamieson
Peterhouse Capital Limited (Corporate Broker)
Tel: +44 (0)20 7469 0930
Guy Miller / Charles Goodfellow
Market Abuse Regulation (MAR) Disclosure
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of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms
part of retained EU law (as defined in the European Union
(Withdrawal) Act 2018).
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END
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