Member Info for reefles

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

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%

Hey Bigstick. I guess a blinder is in the eye of the beholder, eh... but I just really like Ed and think he's doing a great job and has nice hair.

I also enjoy a smoke! So - this made me very sad when I was sent it the other day:

"As announced on 8 April 2024, Northern Leaf sold its entire vault inventory and product that was

with our manufacturing partner in Portugal for processing and final packaging for approximately

10% of its normal selling price to provide urgently needed funds to maintain the Company in the

short term whilst alternative long-term funding was sought."

All our stash! Flogged off to the Portuguese at a 90% discount! I wish Seed would just step in and bail them out. And buy our weed back. And distribute it as a special dividend.

Ed's pulled a blinder.

Well, everyone should do their own research, but... I've just got this feeling in my elbow.

And it's a pretty strong one, (the feeling, not the elbow).

...this will be back up to 3p by next week.

Bar(wick)man - I rolled my eyes smugly at your comment earlier, "Hope most or all of your Seed shares are in your ISA..."

I was thinking, "Yeah yeah, we may be invested in Seed, but we're not stupid." It turns out I actually am. Most of my Seed is in an ISA, but I left about 200,000 shares in another account when I hit the annual limit a few years back. I could have transferred them last tax year or last week. I am actually stupid!

Hahaha!

It seems a lot of people are going for option C this morning... Good luck to them all with their psychiatric therapy.

...and use the dividend for cheap pharmaceuticals from some guy on a park bench

Strategy A all the way!

https://cdn.images.express.co.uk/img/dynamic/128/590x/24n20squirrel-491131.jpg?r=1686998680160

Hello Seaview! Not seen you on here for a while. It's like the Blues Brothers and we're getting the band back together. Are you bought in still, or just here for the LOLs like Deltalo?

Swaz - nice chart, mate.

Deltalo - there's no way you would have known this, but just to fill you in: a lot of us on this BB don't post anything on April 18th out of respect for one of our former figureheads, ODONNELL. He was quite the character, beloved by all, and with never a bad word said against him (nor by him). ODONNELL did not have many rules, but... he would never post to this BB on April 18th. See for yourself: https://www.lse.co.uk/profiles/odonnell/

Midas, Deltalo is joking.

Either way, I think we can all agree that Ed has played a blinder and is an underappreciated genius.

Yeah - come on it, the water's lovely!

Should we be happy about this? I mean - it'll be nice to get a bit of cash, but surely letting the buyback run would be better for us. Like, the cost of the dividend will be equivalent to buying back 50% of the shares in circulation (at last week's SP). This feels like an effort to drive the SP up without any actual substance.

....who spent £6250 of their hard-earned on a purchase here last Thursday... no longer needs to enlighten us long termers as to their expectations... with the Leap cash hitting the coffers less than 24 hours later.

Was the timing of this public? I wasn't aware we'd get the cash Friday (although it is exactly a year since the sale RNS), and I'm just curious as to whether other people missed a trick or if this was a bit of insider knowledge. I suppose with this spread, it's only about a 3% gain so far, but I fully expect the blue streak to continue.

(Ps. Longlad - your broadsheet writing style IS appreciated, haha! Thank you.)

Longlad - you have the writing style of a tabloid journalist, it’s exhausting. Why not just state Ed’s salary rather than stating it’s “insane”? I thought he was on like £130k or something, which I’d describe as “a bit high, given recent performance, but about the right level for the talent level we expect”.

You must have more than an iota of confidence in the BoD. You’re still here.

Sorry to be boring, but I get sick of you telling us we’ve invested in something that has NO hope.

Well... it's not really about the money, is it. I lived on Jersey for four long years, after graduating, and there was NOT enough marijuana on the island. Soon there will be literally tons. We have done a good thing.

I heard that these days in St. Helier, the cool kids all call it "sparking up a McDermott"