RGO.L

Riverfort Global Opportunities
RiverFort Global Opp - AGM Statement
25th July 2024, 06:00
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RNS Number : 7433X
RiverFort Global Opportunities PLC
25 July 2024
 

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO.596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

 

25 July 2024

 

RiverFort Global Opportunities plc

 

("RGO" or the "Company")

 

AGM Statement

 

 

The Board of the Company provides an update to shareholders ahead of its Annual General Meeting ("AGM") to be held at 10.30am today at the offices of Orrick, Herrington & Sutcliffe (UK) LLP, 107 Cheapside, London EC2V 6DN.

 

At the AGM, the Chairman will make the following statement:

 

"Further to the Company's announcement on 22 March 2024, we are pleased to report that the possible acquisition of 100% of the assets and liabilities (the "Business") of S-Ventures plc ("SVEN"), (the "Proposed Acquisition") is progressing and that the disposal of its debt and equity-linked investment portfolio has been successfully completed thereby leaving the Company with a significant cash balance and a more focused investment portfolio. One of the key elements of the Proposed Acquisition is the completion of the SVEN audit for the 15 months to 31 December 2023.  SVEN has now engaged its auditors and work is underway.  At the same time, due diligence is at an advanced stage and the underlying businesses of SVEN, notably Juvela, Pulsin and Market Rocket, are trading in line with expectations.

 

We will provide a further update and more detail with regard to the timing of the Proposed Transaction in due course."

 

Enquiries:

 

RGO plc

Philip Haydn-Slater, Chairman

Nicholas Lee, Director

 

Tel: +44 (0) 20 3368 8978

Nominated Adviser

Beaumont Cornish

Roland Cornish

Felicity Geidt

 

Tel: +44 (0) 20 7628 3396

Joint Broker

Peterhouse Capital Limited

Duncan Vasey/Lucy Williams

 

Tel: +44 (0) 20 7469 0935

Tel: +44 (0) 20 7469 0936

Joint Broker

Shard Capital Partners LLP

Damon Heath/Erik Woolgar

Tel: +44 (0) 20 7186 9950

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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