Business
Capital Reorganisation
Capital Reorganisation.
About this update from Hellenic Dynamics Plc
[{"type":"text","content":"\n\n27 November 2023\n \nHellenic Dynamics plc\n(\"Hellenic Dynamics\" or the \"Company\")\n \nCompletion of Capital Reorganisation\n \nLondon, 27 November 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 European medical cannabis markets announces that, following the approval of the Capital Reorganisation at the General Meeting held on 20 November 2023, applications have been made to the Financial Conduct Authority and the London Stock Exchange respectively, for the New Ordinary Shares resulting from the Capital Reorganisation to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities in place of the Existing Ordinary Shares. It is expected that the 125,300,000 New Ordinary Shares of £0.001 each will be admitted to trading and dealings will commence on the London Stock Exchange at or around 8:00 a.m. today.\n \nAs a result of the Capital Reorganisation, Shareholders will receive 1 New Ordinary Share in substitution for every 100 Existing Ordinary Shares held. The New Ordinary Shares have the same rights as the Existing Ordinary Shares, including voting, dividend and other rights. Immediately following the implementation of the Capital Reorganisation, it is expected that the market price of a New Ordinary Share should be approximately equal to a multiple of 100 times the market price of an Existing Ordinary Share immediately beforehand. Existing Shareholders will own the same proportion of the Company as they did immediately prior to the implementation of the Capital Reorganisation, subject only to fractional rounding.\n \nAs at 27 November 2023, the Company's issued ordinary share capital consists of 125,300,000 ordinary shares of £0.001 each and therefore the total number of voting rights in the Company, attributable to such ordinary shares, is 125,300,000. This figure should be used by shareholders as the denominator for calculations 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 Guidance and Transparency Rules.\n \nCapitalised terms used but not otherwise define...