Settlement with Creditors
Seed Capital Solutions plc has reached an agreement with its creditors to settle outstanding liabilities, involving the issuance of new ordinary shares valued at up to £125,000 and £50,000 in cash. The company plans to convene a general meeting to seek shareholder approval for these share issuances and an equity fundraising aimed at covering ongoing obligations of approximately £85,000 over the next twelve months, settling professional liabilities, and providing initial capital for acquisition opportunities. Following these steps and shareholder approval, Seed Capital Solutions intends to request the lifting of the temporary suspension of its listing on the Official List of the FCA.
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Further to the Company's announcement on 10 July 2026, the Company is pleased to announce that it has now reached agreement with all of its substantive creditors in respect of the settlement of outstanding liabilities. As previously announced, the Company had accrued adviser costs in respect of the initial transaction which was terminated on 10 July 2026 and which the Company had expected to be settled from the associated fundraising.
The Company has now agreed to settle up to £125,000 of these professional creditors through an issue of new ordinary shares, and a further £50,000 in cash ("Creditor Settlement"). The Board intends to convene a general meeting of shareholders to seek approval for the authorities necessary to issue the new ordinary shares to creditors and to undertake an equity fundraising ("General Meeting").
Subject to shareholder approval, the Board intends to raise sufficient capital to enable the Company to satisfy its ongoing obligations, estimated to be no more than £85,000 for the next 12 months, settle certain professional liabilities as above and to provide some initial capital to pursue suitable acquisition and investment opportunities ("Fundraising").
The Company's broker has indicated its support for the Fundraising, subject to the relevant shareholder approvals being obtained.
The Company will subsequently make a request to the FCA to lift the temporary suspension of its listing on the Official List of the FCA of its ordinary shares of £0.0025 each on completion of the Creditor Settlement and Fundraising following the General Meeting.
As previously announced, following the change of the accounting reference date from 30 June to 31 December, as announced on 29 June 2026, in accordance with UKLR6.4.16 the Company will prepare and publish a second interim report in respect of the six-months ending 30 June 2026, to be published on or before 30 September 2026.
A further announcement will be made in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.