22 Jul 2022 10:15
22 July 2022
Pires Investments plc
("Pires" or the "Company")
Company and Investment Portfolio Update
Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on Company developments and further progress relating to companies within its investment portfolio that Pires is invested in either directly, or indirectly through its investments in the Sure Valley Ventures funds.
Offer Update
On 21 July 2022, Pires announced that the recommended offer for Pires by Tern plc, whilst being supported by the majority of Pires shareholders voting both by number of shareholders and number of shares held, was not approved by the requisite number to effect a scheme of arrangement, and had therefore lapsed.
The Company has a clear and proven strategy of investing in next generation technology and realising returns from its investments. It has built an exciting portfolio of investments which is clearly attractive, as evidenced by the recent offer. A number of the Pires portfolio companies continue to make good progress with some recent developments detailed below.
Sure Ventures plc - Annual results
Pires is pleased to note the announcement made on 19 July 2022 by London-listed venture capital fund Sure Ventures plc ("Sure Ventures") of the publication of its Annual Report for the year ended 31 March 2022.
For the year to 31 March 2022, Sure Ventures achieved over a 40% increase in its net asset value per share to 128.91 pence per share.
Pires has a 23.3% shareholding in Sure Ventures and Sure Ventures has a 25.9% interest in Sure Valley Ventures ("SVV1"), in which Pires has a 13% direct investment. SVV1 is a venture capital fund focused on investing in the software technology sector with a specific focus on Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data. Consequently, Pires has a combined direct and indirect interest in SVV1 of circa 20%.
The announcement can be viewed in full at the link below:
https://www.londonstockexchange.com/news-article/SURE/annual-report-for-the-year-ended-31-march-2022/15547091
VividQ
VividQ, a leading software and IP developer for holography, has announced the appointment of François Auque as Chairperson of its Board of Directors. He is a partner at InfraVia Capital, a leading independent European private equity firm and also serves as a member of the Board of Directors of Rexel, a wholesale electrical distributer.
François joined the Board and officially assumed the Chairman role during a Board meeting at VividQ's London headquarters earlier this month. His vast experience in dealing with large corporations, paired with his knowledge as an investor in deep tech start-ups will prove fundamental in supporting the company in its continued advancement of breakthrough technology in the holographic revolution.
Further details can be found at the following link: https://vivid-q.com/news/francois-auque-is-appointed-chairperson-of-vividq-board-of-directors/
Low6
Low6, the company that has developed a next-generation sports betting platform, has provided an update in regard to its recently launched free-to-play gamification technology to the sports, sports betting and gaming industries as a full turnkey business-to-business ("B2B") solution. It is pleased to announce a strategic partnership with Inside The Pocket ("ITP") the sector's pre-eminent free-to-play aggregation platform.
Low6 will deliver a selection of its award-winning free-to-play products to a new network of operators via the fast-growing ITP platform, in an industry-first aggregation model for sports betting. Global gaming operators can now access the industry-leading 1st party data opportunities that the white-label gamification provides. Low6's set of data collections tools help customers to collect strong 1st party data to help them better understand their user base which is becoming even more central to business success.
Further details can be found at the following link: https://www.low6.com/low6-strengthens-global-distribution-through-new-partnership-with-itp/
CameraMatics
CameraMatics, the IoT, fleet safety technology specialist, has recently been shortlisted for the Fleet Safety Product Award as part of the UK Fleet Champions Award 2022. Its submission focused on SafeMatics, and its continuous evolution and development with new features to create the sharpest insights.
Nicholas Lee, Director of Pires, commented:
"We firmly believe that Pires has an exciting future with the clear potential to continue to deliver attractive investment returns and value for shareholders from our exciting investment portfolio.
"We are delighted to see the continued progression of our portfolio companies and extend a warm welcome to François Auque following his appointment as Chairperson of VividQ. We look forward to supporting him in his role as he guides the company through its growth phase.
"We are also pleased to note Low6's strategic partnership with Inside the Pocket on the back of its announcement in June that it was offering its gamification technology as a full turnkey B2B solution to the betting and gaming industry. It is great to see how quickly Low6 is seeing traction with its new offering.
"Finally, congratulations to CameraMatics for being shortlisted for the Fleet Safety Product Award as part of the UK Fleet Champions Awards 2022. We look forward to hearing the results in October and wish them the best of luck."
Enquiries:
Pires Investments plc Nicholas Lee, Director
| Tel: +44 (0) 20 3368 8961
|
Nominated Adviser Cairn Financial Advisers LLP Liam Murray/Ludovico Lazzaretti
|
Tel: +44 (0) 20 7213 0880 |
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams
| Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936 |
Joint Broker Tennyson Securities Peter Krens
| Tel: +44 (0) 20 3167 7221 |
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills | Tel: +44 (0) 20 3004 9512
|
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/
About VividQ
VividQ is a software and IP licensing company with world-leading expertise in Computer-Generated Holography. Holography is no longer just science fiction. For the first time, Computer-Generated Holography is available as a viable commercial solution in the digital display industry. VividQ's products enable innovative technology companies to integrate true holographic display in augmented reality wearables, automotive head-up displays, and consumer electronics.
The company's extensive R&D has led to cutting-edge developments that achieve the highest image quality and lowest power requirements in real-time Computer-Generated Holography. VividQ's technology enables the most realistic and immersive visual experiences possible.
For more information, please visit: www.vividq.com
About Low6
Low6 is a leader in sports gaming technology that powers franchises with their own branded gaming experiences to engage and monetize their digital fanbases. For the fans, by the fans - Low6 inspires innovative and creative solutions that redefines future sports mobile gamification.
For further information, visit: https://www.low6.com
About CameraMatics
CameraMatics is a disruptive technology for Fleet and Driver Risk Management. The CameraMatics SaaS-based full-stack platform is a modular software platform based on Camera Technology, Vision Systems, AI, Machine Learning and Telematics, combined with Fleet Safety modules that help fleet operators to drive new safety standards across their fleet and drivers.
By reducing accidents, improving operational efficiencies, managing compliance, it gives complete visibility and peace of mind for today's challenges in fleet operations. CameraMatics is based in Dublin and Waterford (Ireland), London (UK), Richmond VA (USA) and has recently made an entry into the market in mainland Europe.
Further details about CameraMatics can be found at https://www.cameramatics.com/