AGM Statement

Seed Innovations Limited

24 September 2024

 

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	[e-mail]
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	[e-mail]

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.

 

END