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If they can buy something that the market sees potential in, cannabis keeps improving and maybe get some other exits I think we see 5p again too longer term Fatman. Need to see that NAV go up!
I really want to see Ed walk the talk and find a gem. He's made a few of the right noises about why he's knocked things back, I've got expectations on the next investment.
Hi Sam.
Sorry I should have said a time frame.
I meant to say this is worth 5p in the next 18-24 months.considering the current nav is just shy of 7p I do think 5p shoul be achieved. Providing the economy is also improving .
But 5p to a man like me who has been here 9 years is still terrible.even at 5p I am so far down it is embarrassing. BUT for those buying now I do think this makes for quite a decent solid investment my views on Ed remain the same until I see a real turnaround but at least the divi is a start in my eyes anyway.
The divi even at 2.5p sp is 40% of the mcap. A lot of that money is coming back in with the c2.2p of cash they've got plus the rest of the portfolio. Think 5p is ambitious Fatman but I do think this goes on, maybe late 3's? I'm genuinely excited to hear what they buy next.
Easy barwick.
I kind of agree ,we are good for 5p here so a good 100% plus gain from here.we are cash rich with no debt.
I am happy with the divi there are some fantastic opportunities out there at 10year lows!
But it would be foolish for us to forget we have been loss making here for many years through terrible investment decisions from our bod.hopefully the penny has dropped with Ed but we will see.
Maybe even one day we may even get news of this ipo of juvenescence that Jim has promised for the last 5 years.
Things can change quick in this game and as I've said before i wouldn't put anybody off to having a dabble at this share price.
Excellent company to have in my portfolio,
One to be part of and enjoy the returns.
Just over a week and we get our special dividend cash lads and ladies. nice. and look currently 2.4 to buy and positive movement since ex dividend. and on top of all this probalby the most safest AIM stock because you know it is not going to go bust or do a placing/ dilute. ed is walking the walk. he is doing what he should be doing with the cash and still a few million left. i mean if we have a sort of safety net on this, a rising share price over the coming months and special dividends payed out what is not to like right now. probalby what to do with the special dividend is the most difficult task. for me i may put the money in american bitcoin mining stocks which look great or put the money back in seed or just keep it as cash or just spend it. anyway it is nice.
Deltalo: We have up to 30 May to buy back 21,5 million shares.
There's £850 k allocated to the task.
That provides for an average price of just a tad over 4p per share, hence current prices are still a bargain, leaving plenty of money over for further purchases should the buy back be extended.
If we are in a rising market (someone else is making purchases of a few thousand pounds a time it appears) then it makes sense to buy earlier rather than later.
The volume of possible shares to be purchased a day is 20% of the average daily volume of the shares on the trading venue on which the purchase is carried out, such average daily volume calculated over the 20 trading days preceding the date of purchase.
Friday's RNS shows 500k is possible at the moment.
With around 17,5 million shares purchased, there's around 4 million left to buy.
There's still enough liquidity (aka volume) in the market to allow for sizeable purchases, again as Friday's RNS shows.
Rules of the buyback state that the Maximum price is the lower of:
a) 110% of the average middle market quotations for an Ordinary Share taken from and calculated by reference to the London Stock Exchange AIM Market Daily Official List for the five business days immediately preceding the date on which the Ordinary Share is purchased;
b) 6 pence (£0.06) per Ordinary Share; and
c) the higher of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.
We're still well within all three criteria.
So yes, it is the brokers being a bit useless. And you and I are the ones that are going to lose out if they don't maintain maximum purchases at this low price.
That latest buy back just proves my point, a day with more sells gives the opportunity for bigger buy back amounts.
Basically the company is buying up all available shares with in reason not to affect the sp
With such a limited amount of shares,
Look at any company that does a share buy back, they buy everyday no matter what the sp is,
This company is looking very good imho and cash is lucrative.
Not many like this about I must say.
Atb.
Could be because there’s limited stock available to buy back,
They can’t buy shares back if they are already taken.
If there were then they would buy millions in one go.
You’ll see that today’s buy back will be a lot higher than 150k as there’s more sold shares available.
Thats my view anyway and so we’ll see Tuesday.
Atb
Well, someone is building a position. Not a surprise at thi price. And our brokers simply are not making the effort to grab the opportunity to buy back on the cheap. I wish Ed would call them and tell them to pull their finger out. That’s what an alpha male would do.
For me the worst buybacks were the ones between announcing the special dividend and the close date, why didn’t they just wait and buy when everyone was selling post dividend, mindless fools running this company, so it’s no surprise the brokers are as stupid
Gotta say, the brokers are particularly useless. A 150k buyback, way below the the allowable purchase, in the last minute of yesterday? Doesn’t seem like they’re on the ball with this. The opportunity for a successful buyback slipping away with these incompetents aboard.
Cheers Reefles, i know Jim did increase his holding a while ago but he also held around 10mill in Galloway Limited think that's a trust fund which I'm sure was a separate holding from that on the website, its no big deal anyway, but good reading, cheers again
So - Mr Salad and Mr T'berger have had their share of the company increased by about 0.5pp thanks to the buyback, but ol' Melloni appears to be very bullish
Barwy - I can't really give a better answer than Bigstick re. current holdings, but I did post this back in October. It looks like we've lost Leckerman and Hackett since, although I seem to remember the Leckernator saying he hadn't sold up, he'd just transferred half his shares to his wife, and neither of them were individually above threshold (which felt rum).
Holdings:
17,194,590 8.08% Peter Saladino
14,783,722 6.95% Jim Mellon
7,943,687 3.73% Lloyd Leckerman
7,205,005 3.39% Norbert Teufelberger
6,355,460 2.99% Richard Hackett
..........
53,482,464 25.14% Sub total
4,680,000 2.20% Ed McDermott *
1,674,024 0.79% Ian Burns
3,950,000 1.86% Share buyback
17,300,000 8.13% Remaining buyback **
..........
81,086,488 38.11% Total known holdings
* at 2.549p average (although they may have been a bonus, not cash)
** if fully subscribed
Just looks like the 3 individuals reefles listed
https://seedinnovations.co/investor-centre/shareholder-analysis
Quick question Reefles are Jim Mellon's trust Galloway Limited still invested as well, or have they sold up, cheers
I always thought Ed was just a figurehead, and that's why his hair was such an important part of his skillset. Like, he tells everyone he's a portfolio manager with his finger on the pulse... but actually SEED is just a way for Jim Mellon and mates to mutually invest in each other's riskier projects / share the risk with some lucky members of the public like us.
But then, I've just looked at the list of major shareholders, and they're not as invested as I remembered. Mellon + Saladino + Teufelberger only have about 20%
I agree with that LongLad, Ed has proved himself useless at investing, I’m happy to recover as much as possible here and Move on. I will continue to invest in cannabis stocks the industry isn’t dead in the water like matador says, this fund is dead in the water we are on borrowed time for sure with Ed running the business
BigSlick7
I agree with a huge amount of what you say, however, I don’t like current markets (yesterday’s‘suspension’ rns’ was alarming)
I’m happy for Ed not to invest…..I’m also happy to sell off everything and make shareholders semi whole but that ain’t going to happen.
Reclassification is a move towards sorting the banking problem in the USA, Biden has pardoned people convicted for cannabis offences they obviously have an eye on the potential tax revenue, and the USA isn’t the only market Europe is moving quickly towards legalising recreational use as well, and don’t forget medical cannabis thats a massive market, things are getting better not worse imo
As for Ed I’m not convinced he could recognise a good opportunity, you have a higher opinion of him than me Matador
if ed and co thought cannabis had legs they'd have invested in something while it's on its ****.
they haven't because it's likely dead in the water.
https://www.msn.com/en-gb/money/other/new-era-for-pot-regulation-leaves-old-problem-many-cannabis-companies-can-t-find-a-bank/ar-aa1nxci1?ocid=msedgntp&pc=u531&cvid=4d57923c417f4cfbb0c7a84673606178&ei=11
Nice move in the SP yesterday, after that news from the states last night let’s see if the SP can do the same today and coming months.
America has announced plans for reclassifying cannabis today
https://www.bbc.com/news/world-us-canada-68932612
A good fund manager would be finding opportunities