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.

19 September 2023

SEED Innovations Limited

("SEED" or the "Company")

Share Buy-Back Programme

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 its intention to commence a share repurchase programme of Ordinary Shares for up to a maximum of 21,500,000 shares and £850,000 (the "Programme"), with commencement subject to confirmation of acceptance by the proposed broker, which is expected shortly.

The Board have determined to undertake the Programme following consultation with certain key shareholders and having considered the current 56.9% discount in the share price relative to the Company's last reported NAV along with the strong cash and receivables of £7.1million as reported on 11 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 upon confirmation of appointment of the broker for the Programme and ending not later than 29 February 2024. The Programme will be funded from the Company's existing cash resources.

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.

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.  The Company is in the process of appointing Shard Capital to manage the Programme and make market purchases of Ordinary Shares on its behalf, independently of the Company. The Company will make a further announcement once the Programme commences.

The shares purchased by the Company will be held in treasury pending cancellation or re-issue. Shard Capital will be the Company's broker in relation to the Programme: 

CEO, Ed McDermott commented: "This programme is a reflection of our strong financial position and our commitment to returning value to our shareholders.  We have set the maximum price we would pay per share at 6 pence as our goal is to buy back shares below our last stated net asset value."

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For further information on the Company please visit:  www.seedinnovations.co or contact: 

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.