Delay to the publication of accounts & Suspension

Hellenic Dynamics PLC

01 August 2024

 

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                                                                   [phone]

Davinder Rai                                                                                                          [e-mail]

Cairn Financial Advisers LLP

Emily Staples / Jo Turner                                                                     [phone]

Peterhouse Capital - Brokers

Lucy Williams / Charles Goodfellow                                  [phone]

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.

 

END