REG - Seed Innovations Ltd - AGM Statement

Seed InnovationsAnnouncement

24/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240924:nRSX8956Ea&default-theme=true

RNS Number : 8956E  Seed Innovations Limited  24 September 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

 

24 September 2024

SEED Innovations Limited

("SEED" or the "Company")

 

AGM Statement

 

SEED Innovations Ltd, the AIM-quoted investment company offering exposure to
disruptive, high-growth, life sciences and technology ventures typically
inaccessible to everyday investors, is holding its Annual General Meeting
("AGM") today.  In his address to shareholders, Non-Executive Chairman Ian
Burns will deliver the following statement:

 

"SEED has a history of achieving results through its targeted investment
portfolio, generating liquidity events and delivering value for shareholders.
This was highlighted when we rewarded shareholders with the implementation of
a Share Buyback programme and issued a Special Dividend. As our current
investments mature, we'll continue to explore similar opportunities.

 

"Despite the challenges in our operating markets, we remain confident in the
strength of our portfolio, which features a mix of liquid, pre-liquidity, and
longer-term opportunities within disruptive, high-growth life sciences and
technology ventures, as well as allowing for more opportunistic, short-term
trading strategy. Furthermore, with approximately £3.5 million in cash as of
31 August 2024, we are well-positioned to capitalise on the current
environment, which presents exciting opportunities to acquire undervalued
assets.

 

"Although our market capitalisation of approximately £3 million currently
falls below our estimated net asset value (NAV) of approximately £10.8
million* as of 31 August 2024, we remain optimistic that our strong cash
position, dynamic portfolio, and promising investment pipeline will soon be
recognised and reflected in a revaluation of our stock price. Accordingly, two
of our directors, CEO Ed McDermott and FD Lance de Jersey, recently bought
more shares in the Company, demonstrating their commitment and belief in our
strategy.

 

"We look forward to continuing to deliver sustained value to our shareholders
through diligent portfolio management, the identification of new
opportunities, and strategic market engagement."

 

An updated Company Presentation has been uploaded to our website:
https://seedinnovations.co/about/about-us
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedinnovations.co%2Fabout%2Fabout-us&data=05%7C02%7Cana%40stbridespartners.co.uk%7C1111b515ab4b42a2b65008dcce6f296d%7C48b7268319d344289c4b73cf144d89ed%7C1%7C0%7C638612224055801918%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=lEIqvlhfVvGVmf2yTwlRM9QuUfQmXicLfVSbgIvyW0E%3D&reserved=0)
  concurrent with this announcement and will be used in the investor update
that will follow the AGM.

 

* Estimated based upon the published NAV in the Annual Report as at 31 March
2024, updated for publicly available information such as pro-rated overhead
expenditure, FX rates, listed company share prices and previously announced
investments.

 

- Ends -

 

For further information visit: www.seedinnovations.co or contact:

 

  Ed McDermott       SEED Innovations Ltd          info@seedinnovations.co  

 Lance de Jersey
 James Biddle        Beaumont Cornish Limited      (0)20 7628 3396

 Roland Cornish      Nomad
 Isabella Pierre     Shard Capital Partners LLP    (0)20 7186 9927

 Damon Heath         Broker
 Ana Ribeiro         St Brides Partners Ltd        seed@stbridespartners.co.uk

 Isabel de Salis     Financial PR

 Seb Weller

 

Notes

Seed Innovations Ltd is an AIM quoted investment company offering exposure to
disruptive, high-growth, life sciences and technology ventures typically
inaccessible to everyday investors. Its strategy focuses on identifying
early-stage opportunities with upcoming investment catalysts, alongside more
mature investments providing near-term liquidity. With a portfolio of such
investments and cash reserves, the company is agile and poised to capitalise
swiftly on new investment opportunities.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMSFSFSUELSEFU