Hellenic Dynamics PLC First Day of Dealings (5232I)

TIDMHELD

RNS Number : 5232I

Hellenic Dynamics PLC

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THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH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

This announcement contains inside information for the purposes 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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