The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I am very pleased that Ed has taken up the first part of the suggestion I made yesterday:
“ The only responsible action for SEED now in the best interests of long suffering shareholders is to make a large special dividend based on NAV. Actually I would advocate it follows DSM and conducts an orderly wind down of the company distributing cash as it becomes available. DSM has an NAV of 67p per share and shareholders are about to receive the first cash dividend of 30p per share.”
I would now like him to consider the second part of my suggestion particularly if this dividend does not massively narrow the persistent discount to NAV. The share buyback scheme has been a complete failure in improving the share price and would have been better spent by retuning the money to shareholders in a dividend.
Go on seed. giddy up. so ed needs to concentrate on sentiment now. news of dividend, investment etc. and talking the talk and walking the walk. saying and repeating it that he is going to do the right thing with the money and all benefit to shareholders.
Nothing in this game is fair. it is all about timing and not falling in love with any company. yep. anyone buying in now would get the dividend if they hold which is unfair to long term holders. but it is what it is. if they can get this share price moving up from here and pay out a dividend it is better than where we are currently at.
icb888
agreed. shame there can’t be a criteria for dividing a special dividend amongst shareholders in proportion to the amount of pain/stress they’ve incurred over the many years of ******ology by management…..but thats not how markets work, and those buying today will benefit equally as those of us who were taken in by the lies and incompetence.
getting ahead of ourselves a little, god only knows what ed & co have got in store for us….judging by the record - nothing good!
So over 5 million from leap gaming in cash plus the over 2 million in part sale and then any interest etc would mean cash of up to 8 million. less buyback, wages over the last 12 months would mean cash position over 6 million. so let us see what ed is going to do with all this liquid cash which is way above market cap. this is the last liquid cash so time to make a move with at least some of it.
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 that it has received the remaining circa £2.4m (€2.76m) from the sale of its portfolio company Fralis LLC, trading as Leap Gaming.
Leap Gaming was sold in April 2023 (see RNS dated 11 April 2023), with SEED's proceeds of the sale totalling €5.8 million payable in two tranches. The first tranche of €3 million (£2.7m) was received on completion of the deal and the balance was received on the 12 April 2024.
The Leap Gaming sale has contributed to SEED's strong cash position of over £6m, which remains higher than its market capitalisation.
Commenting on the announcement, Ed McDermott, CEO of Seed said: "With an additional £2.4 million in cash in the bank, our financial position is exceptionally robust. Despite ongoing liquidity challenges in junior stocks, the investment landscape continues to offer compelling opportunities. Accordingly, we are committed to identifying innovative investment opportunities that will benefit our shareholders. Our primary objective is to enhance shareholder value, and we anticipate unveiling several strategic initiatives aimed at achieving this goal in the near future. We are confident that these initiatives will be well-received by our shareholders."
SEED’s cash now exceeds its cash. The only responsible action for SEED now in the best interests of long suffering shareholders is to make a large special dividend based on NAV. Actually I would advocate it follows DSM and conducts an orderly wind down of the company distributing cash as it becomes available. DSM has an NAV of 67p per share and shareholders are about to receive the first cash dividend of 30p per share.
S. N. I. G. G.E.R.I.N.G is forbidden apparently 🙄
And we are up😜
another £2.4m in the kitty and the sp does nada..
can see longlad s********* in the background😏
Except it reads more like:
We are delighted to announce that our incoming balance is now valued at £Nill.
This now provides seed with a unique opportunity to explore a plethora of avenues of obtaining finance that would only be available to our BoD due to their experience and expertise.
On behalf of the BoD and all shareholders I would like to thank ed and alfresco for navigating the fund through these difficult times.
RNS release time 1400
Due to the ongoing War between Israel and Iran we regret the funds due from Leap gaming have been lost.