For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240416:nRSP6099Ka&default-theme=true
RNS Number : 6099K Seed Innovations Limited 16 April 2024
16(th) April 2024
SEED Innovations Limited
("SEED" or the "Company")
Special Dividend Declaration
SEED Innovations Ltd, the AIM-quoted company investment company providing
shareholders with exposure to early-stage health, wellness and medical
cannabis companies to which, in normal circumstances, they have limited access
to, is pleased to announce that it has declared a maiden special dividend of
1.0 pence (£0.01) per SEED Share (the "Special Dividend"). This follows the
Company's realisation of its investment in Leap Gaming as originally announced
on 7 December 2022.
The Special Dividend will be funded from existing cash reserves and is
expected to be paid on 13 May 2024 to SEED Shareholders on the register of
members of the Company on 26 April 2024 (the "Record Date"), with the SEED
Shares being marked ex dividend on 25 April 2024.
Ed McDermott, CEO of SEED, commented: "It has long been an ambition of ours to
pay a special dividend to reward shareholders. This achievement underscores
our confidence in the Company's current financial strength and future
prospects, as we believe our existing portfolio and new investments have the
potential in the next years to replace the value paid to shareholders now.
Whilst we remain in difficult equity markets, we are seeing attractive
investment opportunities particularly in businesses seeking to fund growth.
"Post payment of the dividend Seed retains in excess of £4m in cash and we
continue to seek opportunities that we believe could see significant returns
for our shareholders. We look forward to providing further portfolio updates
in short order."
-Ends-
For further information on the Company please visit: www.seedinnovations.co
(http://www.seedinnovations.co/) or contact:
Ed McDermott SEED Innovations Ltd E: info@seedinnovations.co
Lance de Jersey
James Biddle Beaumont Cornish Limited, T: (0)20 7628 3396
Roland Cornish Nomad
Isabella Pierre Shard Capital Partners LLP T: (0)20 7186 9927
Damon Heath Broker
Isabel de Salis/Ana Ribeiro/Isabelle Morris St Brides Partners Ltd, E: seed@stbridespartners.co.uk
Financial PR
Notes
Seed Innovations Ltd
SEED Innovations is an AIM quoted investment company focused primarily on
disruptive high growth life sciences and technology businesses particularly
within the medical cannabis arena. The Company's strategy is to identify
early-stage opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of investee
companies to a level where relevant time can be devoted to each.
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 DIVEAXLSFSXLEEA