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Hellenic Dynamics plc announced that all 12 resolutions presented at its Annual General Meeting on September 29, 2023, were passed by shareholders. These resolutions included the re-appointment of four directors and the company auditor, with approval percentages for all resolutions ranging from 99.57% to 100.00% of votes cast.
| Date | 29 Sept 2023 |
| Time | 15:17:52 |
| Category | AGMs and other meetings |
| ID | 2268O |
Hellenic Dynamics plc
("Hellenic Dynamics" or the "Company")
Result of Annual General Meeting ("AGM")
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 burgeoning European medical cannabis markets, is pleased to announce that all resolutions put to the AGM were passed by shareholders on a show of hands. The proxy results received ahead of the AGM were:
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Resolution |
For |
Against |
Withheld |
Total votes cast |
|
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|
|
No. of votes |
% |
No. of votes |
% |
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|
|
|
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|
|
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ORDINARY RESOLUTIONS |
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1. To receive the Company's annual report and accounts for the period ended 31 March 2023
|
1,955,917,606 |
100.00 |
0 |
0.00 |
440,466 |
1,955,917,606 |
|
|
2. To approve the Directors' Remuneration Policy
|
1,946,616,811 |
99.95 |
1,068,295 |
0.05 |
8,672,966 |
1,947,685,106 |
|
|
3. To approve the Remuneration Report
|
1,946,629,311 |
99.95 |
1,055,795 |
0.05 |
8,672,966 |
1,947,685,106 |
|
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4. To re-appoint Sir Anthony Joliffe
|
1,946,856,246 |
99.57 |
8,456,034 |
0.43 |
1,045,792 |
1,955,312,280 |
|
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5. To re-appoint Mr Davinder Rai
|
1,954,623,746 |
99.96 |
688,534 |
0.04 |
1,045,792 |
1,955,312,280 |
|
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6. To re-appoint Mr Filippos Papadopoulos
|
1,954,629,311 |
99.97 |
682,969 |
0.03 |
1,045,792 |
1,955,312,280 |
|
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7. To re-appoint Mr Joseph Colliver
|
1,954,623,746 |
99.98 |
456,034 |
0.02 |
1,278,292 |
1,955,079,780 |
|
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8. To re-appoint PFK Littlejohn LLP
|
1,955,467,137 |
99.98 |
450,469 |
0.02 |
440,466 |
1,955,917,606 |
|
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9. To authorise the Directors to determine the auditor's remuneration
|
1,955,917,606 |
100.00 |
0 |
0.00 |
440,466 |
1,955,917,606 |
|
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10. To authorise the Directors to allot shares
|
1,935,355,786 |
99.95% |
918,068 |
0.05 |
20,084,218 |
1,936,273,854 |
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SPECIAL RESOLUTIONS
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11. To authorise the Directors to disapply pre-emption rights
|
1,934,702,476 |
99.92 |
1,571,378 |
0.08 |
20,084,218 |
1,936,273,854 |
|
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12. To authorise calling of a general meeting other than annual general meetings on 14 clear days' notice
|
1,954,196,001 |
99.94 |
1,103,779 |
0.06 |
1,058,292 |
1,955,299,780 |
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Notes:
A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution.
Enquires:
Hellenic Dynamics plc +44 (0)20 3818 7850
Davinder Rai [email protected]
Cairn Financial Advisers LLP
Emily Staples / Jo Turner +44 (0)20 7213 0880
Peterhouse Capital
Lucy Williams / Charles Goodfellow +44 (0)20 7469 0930
About Hellenic Dynamics plc
Founded in 2019, Hellenic Dynamics is specifically focused on the cultivation and supply of THC ("tetrahydrocannabinol") - dominant strains of medical cannabis flowers, destined for the growing medical cannabis markets across Europe. Hellenic Dynamics' core strategy is to develop and operate its 40,000 square metre active cultivation licence from its 195,506 square metre facility located near Thessaloniki in Northern Greece. In full production, Hellenic Dynamics is capable of producing over 54,000 kg of dried flowers per annum.
Hellenic Dynamics will take advantage of its relatively low cost base resulting from a comparatively low cost of power, having its own running water supply and the labour rates for skilled and semi-skilled labour in Northern Greece.
25 European countries now allow medical cannabis via prescription and the European cannabis market is expected to reach €43.3 billion per annum by 2027. Sales of Hellenic Dynamics' dried THC-dominant cannabis flowers and extracts are initially intended for export into Europe's largest market - Germany, in addition to other European markets including domestically in Greece.
As the first medical cannabis cultivator to obtain a listing on the main market for listed securities of the London Stock Exchange, Hellenic Dynamics is significantly different to the number of CBD (Cannabidiol) related companies that have appeared over the recent years. Hellenic Dynamics cultivates THC-dominant medical cannabis flowers. THC-dominant medical cannabis products are only available via a medical prescription. Medicinal cannabis has been approved for use both in the United Kingdom and Germany, plus 23 other European countries, for conditions including but not limited to chronic pain, intractable chemotherapy-related nausea, anxiety, insomnia, Tourette's syndrome, substance use disorder, multiple sclerosis, IBS, spinal cord treatment, lack of appetite due to HIV/AIDS, cachexia, anorexia and glaucoma.
For further information please visit our website www.hellenicdynamics.com