RiverFort Global Opportunities PLC Update on Pires Investments plc (8166X)
23 Diciembre 2019 - 03:32AM
UK Regulatory
TIDMRGO
RNS Number : 8166X
RiverFort Global Opportunities PLC
23 December 2019
23 December 2019
RiverFort Global Opportunities plc
("RGO" or the "Company")
Update on Pires Investments plc
The Company is pleased to note the announcement today by one of
its investments, Pires Investments plc ("Pires"). RGO has a 24.3%
shareholding in Pires and the substance of the announcement made is
summarised below.
Further to the announcement made by Pires on 21 November 2019,
confirming its initial investment of GBP1.1m into Sure Valley
Ventures ("SVV"), the company has been advised by SVV that an
agreement has been signed to sell one of the companies within the
SVV portfolio, Artomatix, for cash to a leading technology company.
Artomatix provides an artificial intelligence platform that is able
to automate the creation of 3D content.
As a result of this sale, Pires expects to receive a total
distribution of around EUR803,000, representing a cash multiple of
around 5x the initial investment made by SVV. This clearly
demonstrates the quantum and speed with which potential returns can
be generated from the SVV portfolio. Furthermore, the return
achieved by Pires is even more significant given that the company
only recently completed its investment.
Phillip Haydn-Slater, Non-executive Chairman commented:
"This is an excellent result for one of our investments and we
look forward to further updates on the progress of the company's
investment in SVV."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information please contact:
RiverFort Global Opportunities
plc +44 20 3984 9191
Phillip Haydn-Slater,
Non-executive Chairman
-----------------
Nominated Adviser +44 20 7628 3396
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Beaumont Cornish
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Roland Cornish/Felicity
Geidt
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Joint Broker +44 20 7186 9950
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Shard Capital Partners
LLP
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Damon Heath/ Erik Woolgar
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Joint Broker +44 20 7562 3351
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Peterhouse Capital Limited
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Lucy Williams
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END
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