Primorus Inv. Share Price (PRIM)

Sold for cash Nov 2023. Looks like another great call by the BoD given today's performance!

https://www.sharesmagazine.co.uk/news/market/1689357247294684900/in-brief-bushveld-and-primorus-revise-terms-of-loan-note-agreement

Didn't PRIM have a holding here or has that been sold...?

As the rest of the market tanks, PRIM seems to be holding up well. A sign of long term patient investors and a trustworthy BoD who are not afraid of rewarding loyal shareholders. The 1.5p dividend, together with clear and timely communication has cemented this stock, especially with future good news (potential) imminent.

Funnily enough, I'm on both PRIM and 88E. Don't hold your breath on 88e. It'll take a decade before they see a return. By that time we'll be diluted to dust. My holding is so small it's not worth selling but if it was bigger I'd be looking to offload and top up on PRIM (even if that does mean significant patience).

Today's news.

Primorus announces "significant dilution" of stake in investee company

Mon, 15th Apr 2024

(Alliance News) - Primorus Investments PLC on Monday said its stake in Engage Technology Partners Ltd has fallen to 2.0% from 4.5%.

The London-based investor in small and mid-cap companies said Engage, a supply chain management software company, recently embarked on a restructuring programme.

To retain and incentivise the management team, the restructure included the allotment of shares and options which have subsequently diluted Primorus' holdings.

With 92,374 shares, its stake is currently valued at GBP158,000, representing an 89% reduction in its current carrying value.

"As and when the company receives further information about the restructuring and on-going plans of Engage, the management of the company may make further assessments of the value of Engage," said Primorus.

Primorus shares were down 2.5% to 4.05 pence each in London on Monday afternoon.