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Pin to quick picksSeed Share News (SEED)

Share Price Information for Seed (SEED)

London Stock Exchange
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Share Price: 1.60
Bid: 1.50
Ask: 1.70
Change: 0.05 (3.23%)
Spread: 0.20 (13.333%)
Open: 1.55
High: 1.60
Low: 1.55
Prev. Close: 1.55

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Seed Innovations shares boosted by special dividend

Tue, 16th Apr 2024 11:14

(Alliance News) - Seed Innovations Ltd shares shot up on Tuesday, after it said it will pay out a special dividend to shareholders.

Seed Innovations is an investor focused on early-stage health, wellness and medical cannabis firms. Its shares were up 28% to 2.75 pence each in London on Tuesday morning.

Seed Innovations said it will pay out a maiden special dividend of 1.0p.

On Monday, Seed said it received the remaining GBP2.4 million consideration from the sale of portfolio company Leap Gaming.

Seed sold Leap Gaming for EUR5.8 million to IMG Arena US LLC back in April last year. Leap provides virtual games for online, mobile and retail markets.

Chief Executive Ed McDermott said: "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."

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
23 Jan 2024 17:27

IN BRIEF: Seed Innovations notes investment by portfolio firm Avextra

Seed Innovations Ltd - investment firm focused on early-stage health, wellness and medical cannabis companies - Notes announcement by portfolio company Avextra AG, a German medical cannabis company, in which Seed holds a 3% stake.

Read more
5 Dec 2023 20:01

EARNINGS AND TRADING: Lowland Investment NAV falls but dividend hiked

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

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28 Nov 2023 17:18

TRADING UPDATES: First Class says Zigzag enthusiasm "vindicated"

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

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22 Nov 2023 16:56

EARNINGS AND TRADING UPDATES: Wishbone Gold celebrates project buy

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

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13 Nov 2023 16:43

TRADING UPDATES: PCI-PAL picked by Zoom; Biome in project delays

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

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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."

Read more
13 Sep 2023 15:48

UK shareholder meetings calendar - next 7 days

Thursday 14 September 
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Altitude Group PLCAGM
Auto Trader Group PLCAGM
Baker Steel Resources Trust LtdAGM
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IG Design Group PLCAGM
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Mode Global Holdings PLCAGM
Ryanair Holdings PLCAGM
Twenty Four Income Fund LtdAGM
Friday 15 September 
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Insig AI PLCAGM
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Trifast PLCAGM
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LendInvest PLCAGM
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Beacon Rise Holdings PLCAGM
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DP Aircraft I LtdAGM
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Frasers Group PLCAGM
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Hidong Estate PLCAGM
IG Group Holdings PLCAGM
Ilika PLCAGM
Nippon Active Value Fund PLCGM re assets rollover
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.

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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.

Read more
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.

Read more
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.

Read more

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