REG - Sure Ventures PLC - Cash sale of Getvisibilty

Sure VenturesAnnouncement

10/03/2025 07:00

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RNS Number : 9094Z  Sure Ventures PLC  10 March 2025

Sure Ventures PLC

Cash Sale of Getvisibility

 

 

Sure Ventures PLC, which invests in early-stage software companies in the
rapidly growing technology areas of Artificial Intelligence (AI), Augmented
Reality ('AR'), Virtual Reality ('VR') and the Internet of Things ('IoT'), is
pleased to announce that Sure Valley Ventures ICAV (Fund 1) has sold its
entire position in Visibility Blockchain Limited ("Getvisibility") in a cash
sale to Forcepoint.

 

Getvisibility is a cybersecurity company focusing on data visibility and
control and uses state-of-the-art artificial intelligence ("AI") to classify
and secure unstructured information and Forcepoint are a global leader in data
and cloud security. The sale price will remain an undisclosed amount (the
"Disposal"). However, the Disposal is expected to generate a gross cash inflow
to the Sure Ventures PLC of £1.52m.

 

The sale of Getvisibility would represent a c4.5x multiple on SVV 1's total
investment. As at the 31 December 2024, the carrying value of the Sure Valley
Ventures direct investment in Getvisibility was 7.024 million euros (on an
unaudited basis). The sale of Getvisibility has been legally agreed by all
parties but is subject to the satisfaction of certain conditions that are
customary for a transaction of this type.

 

Sure Ventures PLC will use this cash inflow to pay down the debt drawn from
its loan facility, ensure sufficient working capital is in place to continue
its strategy and then look to pay a dividend to shareholders. This will be in
line with the expert tax advice sought and rules relating to its investment
trust tax status.

Gareth Burchell, a Director of Sure Ventures PLC, said:

"This is an excellent result for Sure Ventures PLC and its shareholders. We
would like to congratulate the Sure Valley Ventures team, the founders of
Getvisibility and all connected with the execution of this sale. The proceeds
will be used to clear down our debt, keep cash to avoid shareholder dilution
and then pay a dividend to shareholders which the board will announce in due
course.

Importantly, the message we wish to send shareholders is that SVV Fund 1 is
now in "exit mode" and now we have cleared our debt and made provision for the
future, any further exits will see increased returns by way of  further
dividends"

Enquiries:

 

 Sure Ventures PLC

 Gareth Burchell, Director   Tel: +44 (0) 20 7 186 9951

 

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