REG - Tooru PLC - Completion, AIM Admission, AIM Rule 26 and TVR

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RNS Number : 4891K  Tooru PLC  29 May 2025

 

 

 

29 May 2025

Tooru plc

 

("Tooru" or the "Company")

 

Completion of the Acquisition, Admission to AIM, AIM Rule 26 and TVR

 

Tooru, a company focused on the health and wellness sector, is pleased to
announce that the Acquisition of the operating businesses of S-Ventures will
complete when dealings in the Company's Enlarged Issued Share Capital commence
at 8.00 a.m. today ("Admission") under the ticker "TOO" and the Company's ISIN
is GB00BKKD0862.

 

The Admission Document setting out details of the Acquisition was published on
8 May 2025 and is available on the Company's website www.tooru.com
(http://www.tooru.com) where the AIM Rule 26 information on the Company is
also available.

 

Key highlights

 

·    Tooru is focused on the health and wellness sector and owns a number
of operating businesses comprising:

 

-      Juvela (established circa 25 years ago) which operates a gluten
free bakery business with a factory in South Wales and is strong in the
pharmacy sector where it is the clear market leader. It has also recently
launched a range of new innovative "free from" products which are now already
listed with a number of major UK supermarket chains under a new brand identity
alongside Juvela.

 

-      Pulsin protein and fibre nutritional products and We Love Purely
currently operate in the healthy snacking market with a number of sweet and
savoury products designed to give consumers healthy alternative options to
mainstream snacks such as crisps and confectionery.  Pulsin has a 20-year
history and was one of the first wellness bars in the market.

 

-      Market Rocket is a trusted digital partner agency for globally
recognised Fortune 500 and market-disrupting brands alike. Customers include
JCB, Calvin Klein and Tommy Hilfiger. Market Rocket also provides its
services to other members of the group. Market Rocket is a member of Amazon's
trusted Service Provider Network and is certified as an accredited partner
with Meta and Google. We plan to grow this business in the enterprise space
supporting small and up and coming brands.

 

·    The Company is led by a highly experienced Board and management team
with all the skills necessary to build and develop an exciting business

 

·    For the 6 months to 30 June 2024, the operating businesses generated
net revenues of £7.2 million with a positive EBITDA of £0.8 million

 

·    The wellness sector is an attractive sector with significant scope
for growth and an ever-changing landscape of opportunity

 

·    Given the Company's portfolio of established businesses, the Board
believes that, going forward, it is well positioned to grow both organically
and by acquisition

 

 

Scott Livingston, CEO of Tooru, said:

"We are delighted to announce Tooru's successful admission to the London
Stock Exchange's AIM market.

We have a great portfolio of wellness brands alongside an innovative
technology company to complement the portfolio. We firmly believe that this
stable of brands has significant potential for growth. The AIM quotation
represents an important milestone to support continued development through
access to capital and will help us to fully execute our vision and drive
profitability.  We plan to accelerate growth and scale organically and
through complementary acquisitions in what is a fragmented market with
significant opportunities.

With the considerable experience of our Board and management team, we strongly
believe that we are well placed to generate value for shareholders.  We very
much look forward to updating the market on our future progress."

Total Voting Rights

On Admission, the Company's issued ordinary share capital will consist of
1,678,346,930 Ordinary Shares of 0.01 pence each, with voting rights. The
Company does not hold any shares in Treasury.

Therefore, the total number of voting rights is 1,678,346,930 and this figure
may be used by shareholders as the denominator for the calculation by which
they may determine if they are required to notify their interest in, or change
to their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Enquiries:

 

 Tooru plc

 Nicholas Lee, Non-Executive Chairman   Tel: +44 (0) 20 3475 0230

 Scott Livingstone, CEO
 Nominated Adviser

 Beaumont Cornish                       Tel: +44 (0) 20 7628 3396

 Roland Cornish

 Asia Szusciak

 Felicity Geidt

 Joint Broker                           Tel: +44 (0) 20 7186 9950

 Fortified Securities

 Guy Wheatley/Mark Wheeler
 Joint Broker                           Tel: +44 (0) 20 7186 9950

 Shard Capital Partners LLP

 Damon Heath/Erik Woolgar
 Joint Broker                           Tel: +44 (0) 20 7469 0935

 Peterhouse Capital Limited             Tel: +44 (0) 20 7469 0936

 Duncan Vasey/Lucy Williams

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Capitalised terms used in this announcement shall, unless otherwise defined,
have the same meanings as set out in the Admission Document.

 

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