REG - Primorus Investments - Further Investment in Fresho Pty Ltd

Primorus InvestmentsAnnouncement

08/03/2024 12:00

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RNS Number : 1879G  Primorus Investments PLC  08 March 2024

Primorus Investments plc

 

("Primorus" or the "Company")

 
 Further Investment in Fresho Pty Ltd

 

Primorus Investments plc (AIM: PRIM) is pleased to announce that the Company
has acquired an additional 290,166 ordinary shares in Fresho Pty Ltd
("Fresho") at a price of AUD$0.85 per ordinary share for total consideration
of AUD$246,641 (approximately £126,000).

 

Primorus subscribed for the 290,166 ordinary shares in Fresho at a price of
AUD$0.85 per share from its existing cash resources. Following this
investment, Primorus now holds 3,705,889 shares in Fresho, representing
approximately 3.77% of Fresho's issued share capital on a fully diluted basis.

 

Rupert Labrum, Chairman, commented: "We are very encouraged by the progress of
Fresho, evidenced by its increased annualised recurring revenue.  The speed
at which it is scaling in the UK provides a very positive outlook for the
company and its future business plans.  We look forward to updating
shareholders as Fresho progresses with its plans".

 

More information about Fresho can be found on its website:
https://www.fresho.com/ (https://www.fresho.com/)

 

 

In the year ended 30 June 2022, Fresho had turnover of AUD$2.6 million and
made a loss of AUD$4.3 million.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

 

For further information please contact:

 

 Primorus Investments plc

 Matthew Beardmore, Chief Executive Officer   +44 (0)20 8154 7907

 Nominated Adviser

 Cairn Financial Advisers LLP                 +44 (0) 20 7213 0880

 James Caithie / Sandy Jamieson

 

 

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