SUPERSEED CAPITAL
LIMITED
("SuperSeed" or the
"Company")
SuperSeed Capital Limited is
a company established as a venture capital fund of
funds for early-stage AI/SaaS companies. The Company invests
in technology-led innovation, primarily through funds managed by
SuperSeed Ventures LLP (the "Investment Manager"). The Company's
principal investment to date is in SuperSeed II LP (the
"Fund").
Issuance of Warrants to
Broker to Aid Liquidity
Further to the announcement made on
23 June 2023, SuperSeed is
pleased to announce the issuance of further investor warrants to
its broker, VSA Capital plc ("VSA"), as a facility to aid liquidity
in the market.
Under this arrangement, SuperSeed
has authorized the issuance of 100,000 investor warrants to VSA at
a price of £1.20 per warrant. The warrants will be exercisable for
a period of 6-months from the date of issuance. The purpose of
these warrants is to provide additional flexibility and liquidity
to support the orderly trading of SuperSeed's shares. By issuing
these warrants to VSA, SuperSeed aims to enhance market efficiency
and improve the overall liquidity of its shares.
The Company hopes that this facility
will enable a more active and liquid market for its securities,
benefiting both existing shareholders and potential investors.
SuperSeed remains committed to creating value for its shareholders
and will continue to explore opportunities that enhance liquidity,
improve market conditions, and support the growth and development
of the Company.
Following the issuance of the
Warrants, SuperSeed has a total of 100,000 warrants in issue,
representing approximately 4.06% of the enlarged share capital
assuming full exercise of all warrants.
Issuance of Convertible Loan
Notes
Further to the announcement made on
16 September 2022, SuperSeed is
pleased to announce it has extended the duration of the £1,000,000
loan facility, for the issue of convertible loan notes (the
"Convertible Loan Notes") to the Investment Manager.
As and when issued in the future,
the proceeds of the Convertible Loan Notes shall be used to fund
the Company's short-term working capital and capital expenditure
requirements.
The Convertible Loan Note instrument
has been amended such that the latest date on which any Convertible
Loan Notes in issue, together with accrued interest, will be
redeemable has been extended from 14 September 2024 to
21 June 2026 (the "New Redemption Date"). The
Convertible Loan Notes shall automatically convert, in part or in
full, at any time from the date of issue until the New Redemption
Date, into fully paid ordinary shares in the Company at a price of
£1.30 per Share on written notice of the Noteholder.
Interest shall be payable on any
outstanding Convertible Loan Notes at a rate expected to be 10% -
15% per annum (subject to changing market rates) calculated on the
basis of a 365-day year and the actual number of days elapsed from
the date of issue of the Convertible Loan Notes to the New
Redemption Date.
The Investment Manager is a related
party of the Company pursuant to the rules of the Aquis Stock
Exchange. The independent directors of the Company, having
exercised reasonable care, skill and diligence believe that the
extension of the Convertible Loan Notes is fair and reasonable as
far as the shareholders of the Company are concerned.
For more information, please
contact:
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SuperSeed Capital Limited
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+44(0) 203 405 3060
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Mads Jensen, Investment
Manager
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VSA
Capital - AQSE Corporate Adviser and Broker
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+44(0) 203 005 5000
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Corporate Finance: Simon Barton /
Alex Cabral
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