Seed
Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
11 November 2024
SEED
Innovations Limited
("SEED"
or the "Company")
Divested
interest in Pantheon Resources to secure profit of c.35% in three
months
Creating
value from opportunistic short-term trading strategy
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 pleased to announce that it has exited
its entire position in AIM listed Pantheon Resources plc
("Pantheon") at an average price of 22.91p per share for gross
proceeds of £336,918.90.
HIGHLIGHTS
·
Gross proceeds of approximately
£337,000
·
Divestment represents a profit of
£86,918.94
·
Profit of nearly 35% / 6p per Pantheon share in a
three-month period
Commenting on the divestment, SEED
CEO Ed McDermott said: "I am delighted with the
outcome of this transaction, which highlights our agility in
capturing short-term trading opportunities that drive value for our
shareholders. This divestment in Pantheon generated gross proceeds
of approximately £337,000, delivering a profit of c. £87,000, or
nearly 35%, in just three months. Our strong cash position of
£3.8Million continues to both exceed our current market
capitalisation (by over 30%) and provide the flexibility needed to
capitalise on similar prospects, and as such we anticipate taking
advantage of other similar opportunities in the
future."
DETAILS
In August 2024, SEED invested
£250,000 in AIM listed oil and gas company Pantheon (see RNS dated
7 August) at a price of £0.17 (17p per share) paid for from cash
reserves. It has now exited its entire position in Pantheon at an
average price of 22.91p per share for gross proceeds of
£336,918.90. This represents a profit of £86,918.94, or nearly 35%
/ 6p per Pantheon share in a three month period.
- 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
|
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.
Nominated Adviser
Beaumont Cornish Limited ("Beaumont
Cornish") is the Company's Nominated Adviser and is authorised and
regulated by the FCA. Beaumont Cornish's responsibilities as the
Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules
for Companies and AIM Rules for Nominated Advisers, are owed solely
to the London Stock Exchange. Beaumont Cornish is not acting for
and will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.