Sure Ventures PLC - investor in early stage software companies - Buys 75% interest in We Love Purely Ltd through issue of 1.5 million shares in Sure Ventures, equalling about GBP137,600 at 9 pence per share, along with a cash payment of GBP30,000 to repay an outstanding Purely shareholder loan.
Purely is a healthy snacking brand, offering a plantain crisp product, Purely Plantain Chips, in the UK and certain international markets. Under the umbrella of S-Ventures, Purely will look to develop the brand's product range as well as continue to grow its existing product lines. The existing Purely team will remain in place.
Chair David Mitchell says: "We are delighted to have acquired our stake in Purely and we very much look forward to working with Stefania and her team. Stefania has achieved great results but together we believe we can grow faster and exploit opportunities more effectively in the healthy snacking space."
Current stock price: 102.65 pence
Year-to-date change: up 11%
By Paul McGowan; paulmcgowan@alliancenews.com
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Sure Ventures (SURE)