28 Mar 2022 07:00
28 March 2022
Allied Minds plc
("Allied Minds" or the "Company")
Completion of disposal of investment
Allied Minds plc (LSE: ALM), the IP commercialisation company focused on early-stage company development within the technology sector, announces that it has completed the disposal of its residual shareholding in Touch Bistro for $5.5m CAD ($4.4m USD) in line with its strategy of monetising its investment portfolio. Of the sale proceeds, $4.97m CAD has been received and $0.53m CAD is to be held in escrow, with an initial release date in Q3 2022, subject to any then outstanding claims.
For further information, please contact:
Allied Minds plc Harry Rein | c/o Instinctif Partners |
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Instinctif Partners (Communications) |
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Tim Linacre / Rozi Morris / Joe Quinlan | alliedminds@instinctif.com |
About Allied Minds
Allied Minds plc is an IP commercialisation company focused on early stage company development within the technology sector. With origination relationships that span US federal laboratories, universities, and leading US corporations, Allied Minds historically created, and now operates and funds, a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services. For more information, please visit www.alliedminds.com.