LONDON: SEED Innovations Ltd on Thursday announced a profitable exit from its short-term investment in AIM-quoted Oxford BioDynamics plc, generating gross proceeds of approximately £145,000.
The life sciences-focused investment company acquired 25 million shares in Oxford BioDynamics in February for £125,000 at 0.5p per share. SEED has now sold its entire holding at an average price of 0.58p per share, securing a net profit of about £20,000, or 16%, before brokerage fees.
CEO Ed McDermott said the six-month holding period was longer than anticipated but called the exit “a prudent risk management decision.”
“Our short-term trading strategy continues to deliver profitable outcomes and has consistently outperformed traditional term deposit returns,” McDermott said.
SEED Innovations, which offers retail investors exposure to disruptive life sciences and tech ventures, said the OBD investment was funded from existing cash reserves.