This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law
by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now
considered to be in the public domain.
29 February 2024
SEED Innovations
Limited
("SEED"
or the "Company")
Continuation of Existing
Share Buy-Back Programme
SEED Innovations Ltd, the AIM-quoted
investment company with a portfolio of disruptive, high-growth life
sciences and technology companies, is pleased to announce that it
has extended its existing share repurchase programme (see RNS dated
19 September 2023) of Ordinary Shares (the "Programme") for up to a
maximum of 21,500,000 shares and £850,000 for a further three
months from the expiry of the original programme term to 30 May
2024. To date, 9,927,000 shares have been bought for
c.£288,988.45.
Save for the extension of its term,
the programme will continue to be run on the basis set out in the
Company's announcement of 19 September 2023.
Any purchase of Ordinary Shares made
in relation to this announcement will be carried out on the open
market during the period commencing 1 March 2024 and ending not
later than 30 May 2024. The Programme will be funded from the
Company's existing cash resources.
Share purchases will take place in
open market transactions and may be made from time to time
depending on market conditions, share price, trading volume and
other factors. Shard Capital Partners LLP is the Company's broker
in relation to the Programme. The shares purchased by the Company
will be held in treasury pending cancellation or
re-issue.
The Programme will be conducted
within the safe harbour parameters of the Market Abuse Regulation
596/2014/EU and the Commission Delegated Regulation 2016/1052/EU
(each as incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018, including where relevant pursuant to the
Market Abuse (Amendment) (EU Exit) Regulations 2019). Details of
all purchases made pursuant to the Programme will be announced via
RNS and published on the Company's website as required by the
Market Abuse Regulations.
-Ends-
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
|
James Biddle
Roland Cornish
|
Beaumont Cornish Limited,
Nomad
|
T: (0)20 7628 3396
|
Isabella Pierre
Damon Heath
|
Shard Capital Partners
LLP
Broker
|
T: (0)20 7186 9927
|
Ana Ribeiro
Isabelle Morris
|
St Brides Partners Ltd,
Financial PR
|
E: seed@stbridespartners.co.uk
|
Notes
SEED Innovations Ltd
SEED Innovations Ltd is an
AIM-quoted investment company providing shareholders with exposure
to disruptive, high-growth, life sciences and technology companies.
Its strategy is to identify early-stage opportunities that have an
upcoming investment catalyst, and more mature investments that
offer liquidity in the near term. To this end, it currently has
eight active investments with a balance of liquid, pre-liquidity,
and longer-term opportunities and is positioned to move quickly on
other investment opportunities.