Business
Investee Company Update - Virtualstock
Primorus Investments PLC announced the sale of its investee company, Virtualstock Holdings Limited, to a third-party buyer. Primorus is set to receive consideration of up to approximately £720,000 from the sale. This consideration will be a combination of cash upon completion of the sale, deferred payments, and an equity interest in the acquiring company. Further details regarding the transaction will be disclosed in subsequent announcements. Disclaimer*
About this update from Primorus Investments Plc
[{"type":"text","content":"\n\nPrimorus Investments plc\n \n(\"Primorus\" or the \"Company\")\n \nInvestee Company Update - Virtualstock\n \n \nPrimorus Investments plc (AIM: PRIM) is pleased to announce the sale of Virtualstock Holdings Limited (\"Virtualstock\"), an investee company of Primorus, to a third party buyer.\nUnder the terms of the sale and purchase agreement, Primorus will receive consideration of up to approximately £720,000, which will comprise cash on completion, deferred consideration and an equity interest in the buyer. \nFurther announcements will be made in due course.\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\nMatthew Beardmore, Chief Executive Officer\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","length":3383,"tagName":"div"}]