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Pin to quick picksSeed Share News (SEED)

Share Price Information for Seed (SEED)

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Share Price: 1.60
Bid: 1.50
Ask: 1.70
Change: 0.15 (10.34%)
Spread: 0.20 (13.333%)
Open: 1.45
High: 1.60
Low: 1.45
Prev. Close: 1.45

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AIM WINNERS & LOSERS: Seed Innovations leaps on special dividend

Tue, 16th Apr 2024 10:45

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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Seed Innovations Ltd, up 18% at 2.54 pence, 12-month range 1.61p-4.42p. The investor focused on early-stage health, wellness and medical cannabis firms, declares a maiden special dividend of 1.0p per share. On Monday, Seed said it received the remaining GBP2.4 million consideration from the sale of portfolio company Leap Gaming. "It has long been an ambition of ours to pay a special dividend to reward shareholders. This achievement underscores our confidence in the company's current financial strength and future prospects, as we believe our existing portfolio and new investments have the potential in the next years to replace the value paid to shareholders now. Whilst we remain in difficult equity markets, we are seeing attractive investment opportunities particularly in businesses seeking to fund growth," Chief Executive Officer Ed McDermott says.

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Everyman Media Group PLC, up 4.4% at 57.00 pence, 12-month range 50.12p-69.00p. The picturehouse operator reports revenue growth for 2023, and predicts a "continuously improving film slate in 2024" as Hollywood emerges from last year's strikes. Everyman's revenue in the year to December 28 rises 15% to GBP90.9 million from GBP78.8 million. Its pretax loss, however, stretches to GBP5.5 million from GBP3.5 million. Administrative expenses grow 16% to GBP58.8 million. "Again we have outperformed the wider cinema market and proven that the unique Everyman proposition, with a core focus on exceptional hospitality, is the most relevant form of cinema," Chief Executive Officer Alex Scrimgeour says. "Our measured approach to organic expansion continues, with three exciting and confirmed openings for 2024. We are confident of delivering another year of growth, as we move ahead with a larger footprint and continuously improving film slate."

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AIM - LOSERS

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Ashtead Technology Holdings PLC, down 14% at 654.00p, 12-month range 310.00p-796.30p. The provider of subsea equipment rental services reports a rise in 2023 earnings and lifts its payout, though the stock returns a chunk of recent gains. Ashtead Technology's pretax profit in 2023 jumps 69% to GBP27.5 million from GBP16.3 million. Revenue surges 51% to GBP110.5 million from GBP73.1 million. It lifts its final dividend 10% to 1.10p from 1.0p. The stock went into the results with a year-to-date gain of 25%, though the fall on Tuesday trims its 2024 advance to 6.5%. Shares have more than doubled on-year, however.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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3 Oct 2023 06:51

IN BRIEF: Seed Innovations begins GBP850,000 share buyback

Seed Innovations Ltd - investment firm focusing on early-stage health, wellness and medical cannabis companies - On Friday, says it has begun a share buyback of up to 21.5 million shares, or GBP850,000. The buyback runs from Monday and will end no later than February 29, 2024. The programme will be funded from the company's existing cash resources.

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19 Sep 2023 19:41

IN BRIEF: Seed Innovations plans to start GBP850,000 buyback

Seed Innovations Ltd - investment firm focusing on early-stage health, wellness and medical cannabis companies - Intends to start share repurchase programme for up to a maximum of 21.5 million shares or GBP850,000. Follows talks between the board and certain key shareholders which considered the current 57% discount in the share price relative to the last reported net asset value. Sets maximum price of 6 pence per share. Chief Executive Ed McDermott comments: "This programme is a reflection of our strong financial position and our commitment to returning value to our shareholders."

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13 Sep 2023 15:48

UK shareholder meetings calendar - next 7 days

Thursday 14 September 
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Belluscura PLCAGM
IG Design Group PLCAGM
Jupiter Green Investment Trust PLCAGM
Mode Global Holdings PLCAGM
Ryanair Holdings PLCAGM
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Friday 15 September 
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Citius Resources PLCAGM
Insig AI PLCAGM
Real Estate Credit Investments LtdAGM
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Inteliqo LtdAGM
LendInvest PLCAGM
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Quiz PLCAGM
Seed Innovations LtdAGM
STS Global Income & Growth Trust PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
11 Sep 2023 11:40

Seed Innovations partially offloads stake in Avextra

(Sharecast News) - Health, wellness and medical cannabis investor Seed Innovations announced a major sale on Monday, offloading 2,900 shares of Germany-based European medical cannabis enterprise Avextra, formerly known as Eurox Group.

Read more
11 Sep 2023 10:05

Seed Innovations sells most of Avextra interest for EUR2.9 million

(Alliance News) - Seed Innovations Ltd on Monday said it sold most of its interest in Avextra AG, formerly known as Eurox Group, for around EUR2.9 million.

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8 Sep 2023 19:23

IN BRIEF: Seed cuts value of investment in OTO after fundraise

Seed Innovations Ltd - Guernsey-based wellness and life sciences company - Provides updates from two portfolio companies, Northern Leaf PLC and OTO International Ltd. Says Northern Leaf has been accredited good agricultural and collecting practice by Control Union Medical Cannabis Standard for its cultivation facility in Jersey. Adds supply agreements have been received for initial sales into Germany and Australia, with a number of other supply agreements into various jurisdictions under discussion. Further, says OTO has recently undertaken a fundraise to fund working capital through to the end of 2023. Explains fundraise is at a significant discount to OTO's indicative enterprise value. As a result, Seed is impairing the combined loan and equity position by around 75% in light of both the tough current market conditions and likely needs of OTO to raise further funding in 2024.

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8 Sep 2023 13:44

Seed upbeat on Northern Leaf, writes down value of SWB

(Sharecast News) - Health, wellness and medical cannabis investor Seed Innovations updated the market on two of its portfolio companies on Friday, being Northern Leaf and OTO International.

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7 Sep 2023 20:27

TRADING UPDATES: Tintra receives bid approach; NCC trading in line

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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14 Aug 2023 09:16

Agronomics raises investment in alternative palm oil firm Clean Food

(Alliance News) - Agronomics Ltd on Monday said it has invested in Clean Food Group Ltd, a fermentation-derived palm oil company.

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8 Aug 2023 11:53

Seed Innovations notes investee Clean Food teams up with Alianza Team

(Alliance News) - Seed Innovations Ltd on Tuesday said its investee Clean Food Group announced a strategic collaboration with Alianza Team, a Latin American food production and lipid-based technology company.

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3 Aug 2023 17:16

Seed Innovations delivers positive news from two portfolio holdings

Seed Innovations Ltd - Guernsey-based wellness and life sciences company - Notes statement from Portage Biotech Inc, in which company holds 0.2% stake. Portage reported it is poised to accelerate accrual in all clinical programs across multiple US cities and abroad. Highlights updated interim data for lead iNKT engager, Port-2, presented at the 2023 ASCO annual meeting which showed early evidence of monotherapy activity with minimal toxicity. Has entered into a clinical collaboration agreement with Merck Inc for the evaluation of Port-2. Further, notes announcement by Little Green Pharma Ltd in which it holds a 2.45% interest. Notes LGP's Desert Flame medicinal cannabis flower product has been granted a marketing authorisation in Poland with the company scheduled to ship its first product from Australia in October.

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