SEEEN PLC Result of GM and Open Offer (9119K)

TIDMSEEN

RNS Number : 9119K

SEEEN PLC

23 December 2022

23 December 2022

SEEEN plc

("SEEEN", the "Group", or the "Company")

Result of General Meeting

Result of Open Offer

Total Voting Rights

SEEEN plc (AIM: SEEEN), the media and technology platform that delivers Key Video Moments to drive increased views and revenues across video content, announces the results of the voting on the Resolutions put to its General Meeting held earlier today. All Resolutions put to Shareholders at the meeting were duly passed.

The Company also announces the results of the Open Offer pursuant to the Fundraising announced on 7 December 2022. The Company received valid acceptances from Qualifying Shareholders in respect of a total of 523,887 Open Offer Shares. All Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full and excess entitlements. Additionally, the Joint Brokers have confirmed to the Company that the Broker Option has not been exercised. Accordingly, the Company is pleased to confirm that as a result of obtaining Shareholder approval for the Fundraising and Capital Reorganisation, the Fundraising has raised total gross proceeds of approximately GBP2.6 million.

The net proceeds of the Fundraising are intended to be used by the Group primarily to bolster the sales and marketing team and invest into technology development projects to support its planned next stage of growth.

Total Voting Rights

The Company has applied for Admission of the Fundraising Shares to trading on AIM. Admission is anticipated to occur at 8.00 a.m. on 30 December 2022.

Upon Admission and following the Capital Reorganisation having become effective, the total number of ordinary shares of 0.1p in issue and voting rights in the Company will be 93,345,815. The Company does not hold any shares in treasury.

From Admission, the above figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the ordinary share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Director and significant shareholdings

Following Admission, the revised holdings of the Directors who are interested in the Company's ordinary shares of 0.1p will be as set out in the table below:

 
                                                            Number of       Percentage 
                                             Number of       ordinary      of enlarged 
                                        Placing Shares    shares held    share capital 
                                        to be acquired      following        following 
 Name               Board role            on Admission      Admission        Admission 
 
                    Chief Executive 
 Adrian Hargrave     Officer                   583,333        788,333            0.84% 
 
 Dr Patrick         Non-Executive 
  DeSouza*           Chairman                        -      5,426,165            5.81% 
 
 

* This represents the interest of a related trust, of which Dr DeSouza's immediate family are the sole beneficiaries. Dr DeSouza is the trustee of the trust.

In addition, as a result of the issue of the Fundraising Shares, the Company is aware of the following interests of certain significant shareholders (as defined in the AIM Rules for Companies) in the Company, which will be revised following Admission:

 
                             Number of          Number of             Percentage 
                        Placing Shares    Ordinary Shares            of enlarged 
                        to be acquired     held following          share capital 
 Name                     on Admission          Admission    following Admission 
 
 Water Intelligence 
  plc**                      2,083,333          5,938,366                  6.36% 
 
 

** Dr DeSouza is a director of Water Intelligence plc and Dr DeSouza is interested in 25.07% of Water Intelligence plc's issued share capital.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 18:25 on 7 December 2022 and the Company's Circular.

For further information please contact:

 
    SEEEN plc                                               Tel: [phone] 
     Adrian Hargrave, CEO                                            701 838 
                                                          Website: seeen.com 
 
    Allenby Capital Limited (Nominated Adviser           Tel: [phone] 
     and Joint Broker)                                                  5656 
    Alex Brearley / George Payne (Corporate 
     Finance) 
     Tony Quirke / Amrit Nahal (Sales and Corporate 
     Broking) 
 
 
    Dowgate Capital Limited - (Joint Broker)      Tel: [phone] 
     Stephen Norcross                                           7721 
 

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December 23, 2022 04:44 ET (09:44 GMT)