Pires Investments PLC Statement re Media speculation (9582J)
22 Agosto 2019 - 02:51PM
UK Regulatory
TIDMPIRI
RNS Number : 9582J
Pires Investments PLC
22 August 2019
Pires Investments plc
("Pires" or the "Company")
Statement re Media speculation
The Company notes the recent speculation in the media and it has
been made aware that an advanced copy of a proposed revision of its
AIM Rule 26 website, which was in development, was inadvertently
published on the Company's website. This has now been
corrected.
The Company confirms that it is considering an amendment to its
investment policy allowing it to also invest in technology
companies. The details of a potential investment into Sure Valley
Ventures ("SVV"), a venture capital fund focused on investing in
the software technology sector, are actively being considered by
the Board.
Furthermore the Board is considering a potential placing, which
would not be conditional on the proposed investment in SVV.
SVV currently has a portfolio of ten companies at different
stages of development and specifically focused on augmented reality
("AR") /virtual reality ("VR"), artificial intelligence ("AI") and
Internet of Things ("IoT") sectors. The SVV portfolio currently
comprises of VR Education Holdings plc (a virtual reality education
platform); Wia (an IoT developer platform), Warducks (a AR/VR games
studio); NDRC (an EU accelerator); Artomatix (an AI platform which
automates 3D content for AR/VR, AAA games and movies); Nova Leah
(cyber security and protection for medical devices); Admix (a fully
programmatic monetisation platform for AR and VR); VividQ (software
framework for real time holographic 3D display); and Ambisense (an
enabler of real time continuous monitoring of gas at industrial
sites).
The investment in SVV would be subject to approval by the Board
and shareholders of the amendment of the Company's investing policy
at a forthcoming annual general meeting. However, there can be no
certainty that a placing will occur on terms favourable to the
Company and that shareholders would vote in favour of the Company's
to be potential change in investment policy.
A further announcement will be made in due course.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information please contact:
Pires Investments plc: +44 20 7917 6826
Peter Redmond, Chairman
Nominated Advisor:
Cairn Financial Advisers LLP +44 20 7213 0880
Liam Murray
Tony Rawlinson
Broker:
Peterhouse Capital Limited +44 20 7469 0935
Duncan Vasey/Lucy Williams
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
STRDMGZRZZNGLZM
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August 22, 2019 08:51 ET (12:51 GMT)
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