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").
10 January 2025
RiverFort Global Opportunities plc
("RGO" or the "Company")
RTO update
We are pleased that S-Ventures plc ("SVEN") has now completed the audit of its accounts for the 15 months to 31 December 2023 and that these accounts have now been published. Key highlights include:
· Turnover for the period amounted to £19.7 million
· Gross profit of £9.4 million was achieved.
· EBITDA amounted to a loss of £592,000, which is a reduction compared to the previous period and also includes the impact of the restructuring at Pulsin.
· The loss before taxation was £4,045,000 which includes significant financing costs as well as the Pulsin restructuring
· Juvela has continued to perform well and has been successfully developing new products. Pulsin has been restructured over the period and during 2024 and is now well positioned to grow with the help of additional funding. Market Rocket continues to grow.
The completion of the audit was a key milestone in possible acquisition of 100% of the trading assets and liabilities of SVEN by RGO. Meanwhile, the other aspects of the transaction have continued to move forward whilst the audit of SVEN has been taking place and we look forward to updating the market further as the process progresses and timing becomes clearer.
Trading in our shares remains suspended on AIM.
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
