Member Info for reefles

GLR - the wording is "...at a price of 2.2p per Ordinary Share, subject to such price not being more than a 10% premium to the prevailing market price at the time of publication of the tender document"

So, the tender doesn't get pulled if the SP is pushed up, only if it's dragged down, by my reckoning.

Totally agree with you on Mellon's approach, Davey - the tender price just makes his own bid look like a good option.

All I meant by saying I expected more was that I thought there were at least 2x 500,000 deals made yesterday.

GLR - I think he just wants something nic to put on his mantelpiece

Wasn't it the other way round? They would pull it if the tender price was more than 10% above the market?

Seemed a fairly modest purchase from Messrs Mellon - I was expecting more...

I think we're going to see big things today.

Has everyone registered for the AGM, where you can also send in your questions for the Board?

https://www.investormeetcompany.com/seed-innovations-limited/register-investor

And has anyone voted yet? The proxy form is right at the bottom of the notice:

https://www.rns-pdf.londonstockexchange.com/rns/5754R_1-2025-7-17.pdf

I don't really know what they're up to with the 4th and 5th resolutions - giving the Board authorisation to issue new shares. Are they going to attempt a buy back first, in order to drive up NAV / share, then do a raise at something closer to NAV?? Or is it some kind of takeover plan...?

Anyway - hopefully we'll be ending the week on another SP uptick. Looks promising.

Ed won't turn down a free drink, will he? Last day on the job - he'll want to toast his achievements.

Does it seem curious to anyone else that there is clearly someone trying to pick up large chunks of our capital, and that they are obviously prepared to pay more than 2.2p ?

There hasn't been a TR-1 issued, does that mean it is NOT ol' Jim?? Or does it mean he's somehow pulling the strings without declaring it?

It makes it feel as though the proposal to buy back shares at 2.2p is a trick. Won't Jim just sit there and offer 2.3p, knowing that they're worth 6.1p, but giving people the impression they're getting a good deal? At the same time, it will discourage new investors, as the suggestion is that you'll only be able to sell for 2.2p despite the NAV.

Again - it sort of feels like a calculated takeover. There's got to be a positive side to that, right...?

Right then - who's up for the AGM in Guernsey? I'll get the first round in.

https://www.condorferries.co.uk/ferry-routes-ports/ferries-to-guernsey

It's a bad website! There's no link to the News & Updates section, but it's on the bottom of every page (I think).

Then, you have to click on Notice of AGM, scroll right to the bottom, and click on the hyperlink that doesn't look like a link... then it's Section 5, et voila!

I think it's basically neutral. Mr Mellon has been trying to pick up as many shares as possible. (Or rather, as someone has pointed out, a very junior member of his investment team is doing it with the petty cash...) This is because he's been able to hoover them up for 2p per share, when the NAV is at least 6p per share, i.e. assuming he will eventually be able to liquidate the portfolio, he'll make 3x his money. I think this is why he didn't get rid of Ed sooner - as Ed has kept the SP low by not investing in anything.

Now that he's bought up most of the floating stockpile of shares, he's ditched Ed and offered to buy up as many shares as possible through the Treasury, to increase his overall percentage holding and boost NAV / share.

So, if you hold onto your shares whilst others sell, you'll be in a stronger position. But then, by that logic, nobody will sell and nothing will change...

Matty d'or - see section 5 for the two little duckies:

https://www.rns-pdf.londonstockexchange.com/rns/5754R_1-2025-7-17.pdf

Yeah, but that was the Old Investing Policy. We have a New Investing Policy now....

(New Investing Policy = buy a ton of shares in SEED at a huge discount to NAV.)

Oh - so it is, Super_sub. Super thanks.

Will they have to re-issue the circular, if the Bid stays above 2.2p...? They'll surely look a bit silly trying to buy back millions of shares if nobody's selling. Plus, if they're buying back at such a discount and then cancelling them, the NAV / share is going to keep increasing, which is an incentive to keep holding.

(Strong hold!)

No point in selling for anything less than NAV, now that the tender's coming, right...?

Https://www.youtube.com/watch?v=IMM4zm_AP_g

Oh no! It's a travesty! Ed has felt like part of the family, and I've been really proud of his accomplishments. Not so much the racing, or the investment management, but he takes a cracking photo of a fish and has a commendable head of hair. I'll keep writing to him, though.

The end of an era. Still, though, plenty to get excited about with The Baller... The King is dead - long live the King! Strong Buy.

https://www.potterscookshop.co.uk/products/kitchencraft-professional-stainless-steel-melon-baller

"...our short-term trading strategy has consistently delivered profitable outcomes and outperformed the returns that would have been achieved had the capital been allocated to traditional term deposits."

I wish I could say the same personally.

What's a bitcoin...??

Yes Matador! Good to see a bit of positivity from you. I agree - he's a staaaaar!!

I don't like this uppy-downy SP, though. What more do I need to know... Where's ol' Mellonballs got to??

(Strong buy)

Yeah... I know... but however bad someone is at their job, I think there's a limit. I argue Ed's corner because I don't believe anyone's evil, or worthless, or scum, or the word Longlad was asterisking out of the Dire Straits lyrics. I've lost like £40k on SEED, which is absolutely not throwaway money for me, but you've got look on the bright side, right??

(Strong Buy)