More cash to come from SV div?11 Jun 2025 20:17
10 Mar 2025 07:00
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.
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