REG - RiverFort Global Opp - Investment in Gaussin SA

Riverfort Global OpportunitiesAnnouncement

16/11/2022 07:00

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RNS Number : 5257G  RiverFort Global Opportunities PLC  16 November 2022

16 November 2022

RiverFort Global Opportunities plc

("RGO" or the "Company")

Investment in Gaussin SA

RGO is pleased to announce that it is investing €700,000 in a €5 million
debt financing package for Gaussin SA ("Gaussin") which was announced by the
company on 10 November 2022.  The funding package was arranged by RiverFort
Global Capital Limited and will complement the €4 million equity raised by
Gaussin in October 2022, supporting the company's ability to fulfil its
recently announced order book of €89.5 million. RGO expects to generate an
investment return from this investment through a combination of interest
income and equity upside through the exercise of warrants.

Gaussin has been listed on Euronext Growth since 2010 and has a current market
capitalisation of around €115 million.  It is a technology company that
designs, assembles and offers zero-emission, smart and connected vehicles for
freight transportation and people mobility for both off-road and on-road
applications.

The company has developed expertise in logistic processes, autonomous
technologies and emerging energy solutions.  It has sold more than 50,000
vehicles worldwide and specialises in the following key market segments:
ports; airports; logistics, people mobility; underground works and road
transportation. Customers include international companies such as UPS,
Siemens, Ikea and Carrefour.  Revenue has grown rapidly over the last three
years and for the year ended 31 December 2021, the company generated revenue
of €52.8 million and made a loss of €7.3 million.  As at 31 December
2021, it had net assets of €24.2 million.

Further information on Gaussin can be found on the company's website which is
www.gaussin.com.

Phillip Haydn-Slater, Non-executive Chairman commented:

"We are pleased to be able to invest in such an exciting technology company.
This funding shows how we can deploy capital in significant high-quality
businesses in order to help them implement their strategy.  We are very
pleased to be involved in the funding of Gaussin at this point in its growth
cycle."

The Directors of the Company are responsible for the release for this
announcement.

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.

 

For more information please contact:

 RiverFort Global Opportunities plc              +44 20 3368 8978
 Phillip Haydn-Slater, Non-executive Chairman

 Nominated Adviser                               +44 20 7628 3396
 Beaumont Cornish
 Roland Cornish/Felicity Geidt

 Joint Broker                                    +44 20 7601 6100
 Shard Capital Partners LLP
 Damon Heath/ Erik Woolgar

 Joint Broker                                    +44 20 7562 3351
 Peterhouse Capital Limited
 Lucy Williams

 

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