REG - RiverFort Global Opp - Update

Riverfort Global OpportunitiesAnnouncement

10/01/2025 11:15

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RNS Number : 9356S  RiverFort Global Opportunities PLC  10 January 2025

 

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO.596/2014, WHICH FORMS
PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("UK MAR").

 

 

10 January 2025

 

RiverFort Global Opportunities plc

 

("RGO" or the "Company")

 

RTO update

 

We are pleased that S-Ventures plc ("SVEN") has now completed the audit of its
accounts for the 15 months to 31 December 2023 and that these accounts have
now been published.  Key highlights include:

 

·    Turnover for the period amounted to £19.7 million

·    Gross profit of £9.4 million was achieved.

·    EBITDA amounted to a loss of £592,000, which is a reduction compared
to the previous period and also includes the impact of the restructuring at
Pulsin.

·    The loss before taxation was £4,045,000 which includes significant
financing costs as well as the Pulsin restructuring

·    Juvela has continued to perform well and has been successfully
developing new products.  Pulsin has been restructured over the period and
during 2024 and is now well positioned to grow with the help of additional
funding.  Market Rocket continues to grow.

 

The completion of the audit was a key milestone in possible acquisition of
100% of the trading assets and liabilities of SVEN by RGO. Meanwhile, the
other aspects of the transaction have continued to move forward whilst the
audit of SVEN has been taking place and we look forward to updating the market
further as the process progresses and timing becomes clearer.

 

Trading in our shares remains suspended on AIM.

 

 

Enquiries:

 

 RGO plc

 Philip Haydn-Slater, Chairman   Tel: +44 (0) 20 3368 8978

 Nicholas Lee, Director
 Nominated Adviser

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

 Roland Cornish

 Felicity Geidt
 Joint Broker

 Peterhouse Capital Limited      Tel: +44 (0) 20 7469 0935

 Duncan Vasey/Lucy Williams      Tel: +44 (0) 20 7469 0936
 Joint Broker                    Tel: +44 (0) 20 7186 9950

 Shard Capital Partners LLP

 Damon Heath/Erik Woolgar

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.

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