REG - SEEEN PLC - Exercise of Warrants to raise £0.74m

SEEENAnnouncement

28/05/2025 07:00

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RNS Number : 3024K  SEEEN PLC  28 May 2025

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS
(EU) NO. 596/2014 WHICH HAS BEEN INCORPORATED INTO UK LAW BY THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA
REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN.

 

28 May 2025

 

 

SEEEN plc

("SEEEN", the "Group" or the "Company")

 

Exercise of Warrants and Subscription to raise £0.74 million

and

Block Admission Application

 

SEEEN plc (AIM: SEEN), the global media and technology platform that delivers
Key Video Moments to drive Video Commerce and transform its clients' video
profitability, is pleased to announce that it has received notices to exercise
a total of 14,816,662 warrants ("Warrants") over new ordinary shares
("Ordinary Shares") in the Company (the "Warrant Shares") (together the
"Warrant Exercise"). In addition to the Warrant Exercise, the Company also
announces a subscription for 1,666,666 new Ordinary Shares (the "Subscription
Shares") at an issue price of 4.5 pence each (the "Subscription") from certain
warrant holders who are not capable of exercising Warrants. These subscribers
have undertaken not to exercise their warrants as part of the Subscription.
The Warrant Exercise and the Subscription will raise total gross proceeds of
approximately £0.74 million for the Company.

 

Each Warrant has an exercise price of 4.5 pence per new Ordinary Share.  The
Warrants were originally granted as part of the Company's fundraisings
announced on 31 May 2024 and 17 July 2024 (the "2024 Warrants").

 

The net proceeds of the Warrant Exercise and the Subscription are currently
intended to be used for SEEEN's general corporate purposes, including, but not
limited to, additional resources to promote the Group's technology products
for video commerce and training, as well as repaying the Group's outstanding
loans.

 

Adrian Hargrave, CEO of SEEEN commented: "I am delighted that 70% of our
warrant holders have elected to exercise their warrants with more than one
year to maturity, which we consider reflects their confidence in the Group's
progress over the last 12 months. These funds will further strengthen the
Group's financial platform to continue the momentum from FY2024 when we
increased revenues by approximately 50% versus the previous year and achieved
our first month of operating cashflow breakeven. I look forward to delivering
further growth for our shareholders across all aspects of our business."

 

Admission and Total Voting Rights

 

Application has been made for the Warrant Shares and the Subscription Shares
to be admitted to trading on AIM, which is expected to occur on or around 29
May 2025 ("Admission"). The Warrant Shares and the Subscription Shares will
rank pari passu in all respects with the Company's existing Ordinary Shares
currently traded on AIM.

 

Following Admission, the Company's issued share capital will comprise
138,724,969 Ordinary Shares. From Admission, this number will represent the
total voting rights in the Company and may be used by shareholders as the
denominator for the calculation 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 and Transparency
Rules.

 

Block Admission

 

The Company announces that an application has been made to the London Stock
Exchange for a block admission for 6,349,999 Ordinary Shares to be admitted to
trading on AIM (the "Block Admission"). This Block Admission is to facilitate
the admission of the new Ordinary Shares that may be issued following the
potential exercise of the remaining 2024 Warrants which have not been
exercised pursuant to the Warrant Exercise.

 

The Ordinary Shares subject to the Block Admission will not be allotted
immediately, but rather will be issued and allotted upon the exercise of any
remaining 2024 Warrants from time to time. New Ordinary Shares issued
following exercise of any of the remaining 2024 Warrants and admitted to
trading under the Block Admission will rank pari passu in all respects with
the existing Ordinary Shares. The Company will announce the number of any
Ordinary Shares issued and admitted under the Block Admission at the end of
each calendar month.

 

The Block Admission is expected to become effective on 2 June 2025. The
Company will make six-monthly announcements of the utilisation of the block
admission, in line with its obligations under AIM Rule 29.

 

 

For further information please contact:

 SEEEN plc                                          Tel: +44 (0)7775 701 838
 Adrian Hargrave, Chief Executive Officer

 Dowgate Capital Limited - Joint Broker             Tel: +44 (0)20 3903 7715
 Stephen Norcross

 Capital Plus Partners Limited - Joint Broker       Tel: +44 (0)20 3821 6167
 Jonathan Critchley

 Allenby Capital Limited - Nominated Adviser        Tel: +44 (0)20 3328 5656
 Alex Brearley / Lauren Wright (Corporate Finance)

 focusIR - Investor Relations                       Tel: +44 (0)20 4570 2234
 Paul Cornelius / Kat Perez                         email: seeen@focusir.com

 

 

 

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