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LONDON - Seed Innovations Limited (AIM:SEED), the AIM-quoted investment company, announced Thursday that directors Ed McDermott and Alfredo Pascual have stepped down from the board with immediate effect following shareholder approval at the company’s Annual General Meeting.
The departures come as part of a previously announced strategic change outlined in the company’s July 18 communication to shareholders. Both former directors will remain available to the company for up to six months to support management of the existing investment portfolio and facilitate an orderly transition.
Jim Mellon and Denham Eke are set to join the board as Non-Executive Chairman and Non-Executive Director, respectively, pending standard regulatory approvals. The company indicated it will make a further announcement once these appointments are finalized.
Luke Cairns, Interim Chair, acknowledged the contributions of the departing directors, noting they leave the company with "a solid investment portfolio and strong cash position for the new board to build upon."
The board changes align with the implementation of a new investing policy for Seed Innovations, according to the company’s press release statement.
Seed Innovations is an AIM-quoted investment company that focuses on building a portfolio of investments across various sectors.
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