Business
Further Investment in Fresho Pty Ltd
Primorus Investments plc has subscribed for 588,000 new preference shares in Fresho Pty Ltd for AUD$700,000, approximately £364,000, using existing cash resources, with an additional 28,000 shares issued in lieu of transaction fees. This investment increases Primorus's holding in Fresho to approximately 5.2% on a fully diluted basis. The subscription is part of Fresho's AUD$5 million fundraise to support its growth strategy and expansion plans. Fresho is a market leader in the B2B fresh food industry, having processed over 20 million orders annually with AUD$7.7 billion in gross merchandise value. Disclaimer*
About this update from Primorus Investments Plc
[{"type":"text","content":"\n\nPrimorus Investments plc\n \n(\"Primorus\" or the \"Company\")\n \n Further Investment in Fresho Pty Ltd\n \nPrimorus Investments plc (AIM: PRIM) is pleased to announce that the Company has subscribed for 588,000 new Preference Shares (\"New Shares\") in Fresho Pty Ltd (\"Fresho\") at a price of AUD$1.25 per New Share (\"Issue Price\") for total consideration of AUD$700,000 (approximately £364,000) (\"Subscription\") using its existing cash resources. The Subscription includes an additional 28,000 new Preference Shares that have been issued to the Company at the Issue Price in lieu of transaction fees relating to the Subscription.\n \nFollowing this investment, Primorus now holds 4,295,610 ordinary shares and 1,852,512 preference shares in Fresho, representing approximately 5.2% of Fresho's issued share capital on a fully diluted basis.\n \nThe Subscription is part of a AUD$5 million fundraise being undertaken by Fresho to continue to fund its growth strategy and expansion plan.\n \nMore information about Fresho can be found on its website: https://www.fresho.com/\n \nFresho a market leader in the B2B fresh food industry with a significant traction to date of AUD$7.7 billion gross merchandise value with over 20 million orders processed annually.\n \nThis 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.\n \nFor further information please contact:\n \n\n\n\n\nPrimorus Investments plc\nRupert Labrum, Chairman\n\n\n \n+44 (0)20 8154 7907\n \n\n\n\n\nNominated Adviser\nCairn Financial Advisers LLP\nSandy Jamieson / James Western\n\n\n \n+44 (0) 20 7213 0880\n\n\n\n\n \n \n\n","length":4076,"tagName":"div"}]