Last checked at 16 Apr 2024 07:00
16th April 2024
SEED Innovations Limited
("SEED" or the "Company")
Special Dividend Declaration
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 declared a maiden special dividend of 1.0 pence (£0.01) per SEED Share (the "Special Dividend"). This follows the Company's realisation of its investment in Leap Gaming as originally announced on 7 December 2022.
The Special Dividend will be funded from existing cash reserves and is expected to be paid on 13 May 2024 to SEED Shareholders on the register of members of the Company on 26 April 2024 (the "Record Date"), with the SEED Shares being marked ex dividend on 25 April 2024.
Ed McDermott, CEO of SEED, commented: "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.
"Post payment of the dividend Seed retains in excess of £4m in cash and we continue to seek opportunities that we believe could see significant returns for our shareholders. We look forward to providing further portfolio updates in short order."
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For further information on the Company please visit: www.seedinnovations.co or contact:
Ed McDermott Lance de Jersey | SEED Innovations Ltd | E: info@seedinnovations.co
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James Biddle Roland Cornish | Beaumont Cornish Limited, Nomad | T: (0)20 7628 3396
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Isabella Pierre Damon Heath | Shard Capital Partners LLP Broker | T: (0)20 7186 9927 |
Isabel de Salis/Ana Ribeiro/Isabelle Morris | St Brides Partners Ltd, Financial PR | E: seed@stbridespartners.co.uk |
Notes
Seed Innovations Ltd
SEED Innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early-stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each.