8 Mar 2024 11:49
Primorus Investments plc
Â
("Primorus" or the "Company")
Â
 Further Investment in Fresho Pty Ltd
Â
Primorus Investments plc (AIM: PRIM) is pleased to announce that the Company has acquired an additional 290,166 ordinary shares in Fresho Pty Ltd ("Fresho") at a price of AUD$0.85 per ordinary share for total consideration of AUD$246,641 (approximately £126,000).
Â
Primorus subscribed for the 290,166 ordinary shares in Fresho at a price of AUD$0.85 per share from its existing cash resources. Following this investment, Primorus now holds 3,705,889 shares in Fresho, representing approximately 3.77% of Fresho's issued share capital on a fully diluted basis.
Â
Rupert Labrum, Chairman, commented: "We are very encouraged by the progress of Fresho, evidenced by its increased annualised recurring revenue. The speed at which it is scaling in the UK provides a very positive outlook for the company and its future business plans. We look forward to updating shareholders as Fresho progresses with its plans".
Â
More information about Fresho can be found on its website: https://www.fresho.com/
Â
Â
In the year ended 30 June 2022, Fresho had turnover of AUD$2.6 million and made a loss of AUD$4.3 million.
Â
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Â
For further information please contact:
Â
Primorus Investments plc Matthew Beardmore, Chief Executive Officer | Â +44 (0)20 8154 7907 Â |
Nominated Adviser Cairn Financial Advisers LLP James Caithie / Sandy Jamieson | Â +44 (0) 20 7213 0880 |
Â
Â