Commencement of Share Buy-Back Programme

Seed Innovations Limited

29 September 2023

 

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.

29 September 2023

SEED Innovations Limited

("SEED" or the "Company")

Commencement of Share Buy-Back Programme

SEED Innovations Ltd, the AIM-quoted company investment company providing shareholders with exposure to early-stage health, wellness and medical cannabis companies to which, in normal circumstances, they have limited access to, is pleased to announce, further to the announcement of 19 September 2023, the commencement of a share repurchase programme of Ordinary Shares for up to a maximum of 21,500,000 shares and £850,000 (the "Programme").

Any purchase of Ordinary Shares made in relation to this announcement will be carried out on the open market during the period commencing on 2 October 2023 and ending not later than 29 February 2024. The Programme will be funded from the Company's existing cash resources.

Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors.  The Company has appointed Shard Capital Partners LLP to manage the Programme and make market purchases of Ordinary Shares on its behalf, independently of the Company.

The shares purchased by the Company will be held in treasury pending cancellation or re-issue.

The Programme will be conducted within the safe harbour parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (each as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019). Details of all purchases made pursuant to the Programme will be announced via RNS and published on the Company's website as required by the Market Abuse Regulations.

Further information on the Programme is set out in the Company's announcement dated 19 September 2023.

-Ends-

For further information on the Company please visit:  www.seedinnovations.co or contact: 

Ed McDermott Lance de Jersey	SEED Innovations Ltd	E: [e-mail]
James Biddle Roland Cornish	Beaumont Cornish Limited, Nomad	T: (0)20 7628 3396
Isabella Pierre Damon Heath	Shard Capital Partners LLP Broker	T: (0)20 7186 9927
Catherine Leftley Ana Ribeiro Isabelle Morris	St Brides Partners Ltd, Financial PR	E: [e-mail]

Notes

Seed Innovations Ltd

SEED Innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early-stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each.

 

END