REG - SEEEN PLC - Result of GM and Open Offer

SEEENAnnouncement

23/12/2022 09:45

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RNS Number : 9119K  SEEEN PLC  23 December 2022

 

23 December 2022

 

SEEEN plc

 

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

 

 

Result of General Meeting

 

Result of Open Offer

 

Total Voting Rights

 

SEEEN plc (AIM: SEEEN), the media and technology platform that delivers Key
Video Moments to drive increased views and revenues across video content,
announces the results of the voting on the Resolutions put to its General
Meeting held earlier today. All Resolutions put to Shareholders at the meeting
were duly passed.

The Company also announces the results of the Open Offer pursuant to the
Fundraising announced on 7 December 2022. The Company received valid
acceptances from Qualifying Shareholders in respect of a total of 523,887 Open
Offer Shares.  All Qualifying Shareholders who have validly applied for Open
Offer Shares will receive their full and excess entitlements.  Additionally,
the Joint Brokers have confirmed to the Company that the Broker Option has not
been exercised.  Accordingly, the Company is pleased to confirm that as a
result of obtaining Shareholder approval for the Fundraising and Capital
Reorganisation, the Fundraising has raised total gross proceeds of
approximately £2.6 million.

The net proceeds of the Fundraising are intended to be used by the Group
primarily to bolster the sales and marketing team and invest into technology
development projects to support its planned next stage of growth.

Total Voting Rights

The Company has applied for Admission of the Fundraising Shares to trading on
AIM. Admission is anticipated to occur at 8.00 a.m. on 30 December 2022.

Upon Admission and following the Capital Reorganisation having become
effective, the total number of ordinary shares of 0.1p in issue and voting
rights in the Company will be 93,345,815. The Company does not hold any shares
in treasury.

From Admission, the above figure may be used by Shareholders 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
ordinary share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

Director and significant shareholdings

Following Admission, the revised holdings of the Directors who are interested
in the Company's ordinary shares of 0.1p will be as set out in the table
below:

 

 Name                 Board role               Number of Placing Shares to be acquired on Admission  Number of ordinary shares held following Admission  Percentage of enlarged share capital following Admission

 Adrian Hargrave      Chief Executive Officer  583,333                                               788,333                                             0.84%

 Dr Patrick DeSouza*  Non-Executive Chairman   -                                                     5,426,165                                           5.81%

 

* This represents the interest of a related trust, of which Dr DeSouza's
immediate family are the sole beneficiaries. Dr DeSouza is the trustee of the
trust.

 

In addition, as a result of the issue of the Fundraising Shares, the Company
is aware of the following interests of certain significant shareholders (as
defined in the AIM Rules for Companies) in the Company, which will be revised
following Admission:

 

 Name                      Number of Placing Shares to be acquired on Admission  Number of Ordinary Shares held following Admission  Percentage of enlarged share capital following Admission

 Water Intelligence plc**  2,083,333                                             5,938,366                                           6.36%

 

** Dr DeSouza is a director of Water Intelligence plc and Dr DeSouza is
interested in 25.07% of Water Intelligence plc's issued share capital.

 

Capitalised terms used in this announcement shall, unless defined in this
announcement or unless the context provides otherwise, bear the same meaning
ascribed to such terms in the announcement made by the Company at 18:25 on 7
December 2022 and the Company's Circular.

 

For further information please contact:

 

 SEEEN plc                                                     Tel: +44 (0)7775 701 838

 Adrian Hargrave, CEO                                          Website: seeen.com

 Allenby Capital Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0)20 3328 5656
 Alex Brearley / George Payne (Corporate Finance)

 Tony Quirke / Amrit Nahal (Sales and Corporate Broking)

 

 Dowgate Capital Limited - (Joint Broker)  Tel: +44(0)20 3903 7721

 Stephen Norcross

 

 

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