PKF supports acquisition and re-admission to AIM
We are delighted to have supported Riverfort Global Opportunities plc in completing its acquisition of certain subsidiaries of Aquis-listed S-Ventures plc. The acquisition constitutes a reverse takeover due to a fundamental change in the company’s status – from an investing company to an operating business. Accordingly, in line with Rule 14 of the AIM Rules, the company’s enlarged share capital has been admitted to trading on AIM. Riverfort Global Opportunities plc now trades under the new name “Tooru plc”.
In connection with the acquisition, the company has issued a total of 836,276,079 new ordinary shares at an issue price of 0.75 pence per share. This includes 466,666,666 consideration shares, 356,335,200 loan conversion shares, and 13,274,213 fee shares.
Tooru plc has also raised gross proceeds of £0.5 million, through the placing of 66,666,664 shares at 0.75 pence per share.
“We were very pleased with the Transaction Services team at PKF during the acquisition process and admission to AIM. It was important for us to work with a reporting accountant who had significant experience in Capital Markets, and PKF Littlejohn delivered on that. We truly valued their support throughout the deal.”
Nicholas Lee, Non-Executive Chairman | Tooru plc
PKF acted as reporting accountant on the transaction and the Capital Markets team included Adam Humphreys, John Paolo Dula, Henry Charatan and Gareth Evans.
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