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
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
Lance de Jersey
|
SEED Innovations
Ltd
|
info@seedinnovations.co
|
James Biddle
Roland Cornish
|
Beaumont Cornish Limited
Nomad
|
(0)20 7628 3396
|
Isabella Pierre
Damon Heath
|
Shard Capital Partners
LLP
Broker
|
(0)20 7186 9927
|
Ana Ribeiro
Isabel de Salis
Seb Weller
|
St Brides Partners Ltd
Financial PR
|
seed@stbridespartners.co.uk
|
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.