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Investment in Sure Valley Ventures

21 Nov 2019 12:00

RNS Number : 2389U
Pires Investments PLC
21 November 2019
 

Pires Investments PLC

 

("Pires" or the "Company")

 

Investment in Sure Valley Ventures

 

The Board is pleased to announce that, further to the announcement of 2 September 2019 and approval by shareholders at the Company's Annual General Meeting held on 3 October 2019, the Company has completed its initial investment of £1.1 million into Sure Valley Ventures ("SVV") and now has a 13% interest in SVV.

 

SVV is a venture capital fund focused on investing in the software technology sector with a specific focus on augmented and virtual reality ("AR/VR"), artificial intelligence ("AI") and the internet of things ("IoT"). SVV currently has a portfolio of ten investee companies at different stages of development.

 

 

Peter Redmond, Chairman said:

 

"We are very excited about the prospects of a number of the companies within the SVV portfolio and look forward to updating shareholders as they continue to make progress."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

Enquiries:

 

Pires Investments plc

Peter Redmond, Chairman

Nicholas Lee, Director

 

 

Tel: +44 (0) 20 3368 8961

Nominated Adviser

Cairn Financial Advisers LLP

Liam Murray/Tony Rawlinson

 

 

Tel: +44 (0) 20 7213 0880

Broker

Peterhouse Capital Limited

Duncan Vasey/Lucy Williams

 

Tel: +44 (0) 20 7469 0935

Tel: +44 (0) 20 7469 0936

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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