Exercise of Warrants to raise £0.74m

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH HAS BEEN INCORPORATED INTO UK LAW BY THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

28 May 2025

SEEEN plc

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

Exercise of Warrants and Subscription to raise £0.74 million

and

Block Admission Application

SEEEN plc (AIM: SEEN), the global media and technology platform that delivers Key Video Moments to drive Video Commerce and transform its clients' video profitability, is pleased to announce that it has received notices to exercise a total of 14,816,662 warrants ("Warrants") over new ordinary shares ("Ordinary Shares") in the Company (the "Warrant Shares") (together the "Warrant Exercise"). In addition to the Warrant Exercise, the Company also announces a subscription for 1,666,666 new Ordinary Shares (the "Subscription Shares") at an issue price of 4.5 pence each (the "Subscription") from certain warrant holders who are not capable of exercising Warrants. These subscribers have undertaken not to exercise their warrants as part of the Subscription. The Warrant Exercise and the Subscription will raise total gross proceeds of approximately £0.74 million for the Company.

Each Warrant has an exercise price of 4.5 pence per new Ordinary Share. The Warrants were originally granted as part of the Company's fundraisings announced on 31 May 2024 and 17 July 2024 (the "2024 Warrants"). 

The net proceeds of the Warrant Exercise and the Subscription are currently intended to be used for SEEEN's general corporate purposes, including, but not limited to, additional resources to promote the Group's technology products for video commerce and training, as well as repaying the Group's outstanding loans.

Adrian Hargrave, CEO of SEEEN commented: "I am delighted that 70% of our warrant holders have elected to exercise their warrants with more than one year to maturity, which we consider reflects their confidence in the Group's progress over the last 12 months. These funds will further strengthen the Group's financial platform to continue the momentum from FY2024 when we increased revenues by approximately 50% versus the previous year and achieved our first month of operating cashflow breakeven. I look forward to delivering further growth for our shareholders across all aspects of our business."

Admission and Total Voting Rights

Application has been made for the Warrant Shares and the Subscription Shares to be admitted to trading on AIM, which is expected to occur on or around 29 May 2025 ("Admission"). The Warrant Shares and the Subscription Shares will rank pari passu in all respects with the Company's existing Ordinary Shares currently traded on AIM.

Following Admission, the Company's issued share capital will comprise 138,724,969 Ordinary Shares. From Admission, this number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Block Admission

The Company announces that an application has been made to the London Stock Exchange for a block admission for 6,349,999 Ordinary Shares to be admitted to trading on AIM (the "Block Admission"). This Block Admission is to facilitate the admission of the new Ordinary Shares that may be issued following the potential exercise of the remaining 2024 Warrants which have not been exercised pursuant to the Warrant Exercise.

The Ordinary Shares subject to the Block Admission will not be allotted immediately, but rather will be issued and allotted upon the exercise of any remaining 2024 Warrants from time to time. New Ordinary Shares issued following exercise of any of the remaining 2024 Warrants and admitted to trading under the Block Admission will rank pari passu in all respects with the existing Ordinary Shares. The Company will announce the number of any Ordinary Shares issued and admitted under the Block Admission at the end of each calendar month.

The Block Admission is expected to become effective on 2 June 2025. The Company will make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29.

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