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Sure Ventures plc (LON:SURE) is pleased to announce that it has successfully raised gross proceeds of £300,000 through a private placing at 95p per share. This capital raise resulted in the issuance of 315,790 new ordinary shares, reflecting strong investor confidence and support for the Company's strategic initiatives.
Mindflair Increases Stake
Existing shareholder Mindflair has significantly increased its stake in Sure Ventures. Prior to this purchase, Mindflair held 1,501,000 shares. With the admission of the new shares, its stake will rise to 1,816,790 shares, representing 23.76% of the Company. This increased investment further exposes Mindflair to the first Sure Valley Ventures fund, which has now closed and entered its investment realisation phase.
Utilization of Funds
The newly raised funds will be allocated towards:
- Further investments
- Follow-on investments in Sure Valley Ventures (ICAV)
- Investments in the Sure Valley Ventures UK Software technology fund
- General working capital purposes
Admission to Trading
Application has been made for the new ordinary shares to be admitted to trading on the Specialist Funds Segment of the Main Market of London Stock Exchange plc ("Admission"). Admission is expected to become effective, and dealings in the new ordinary shares will commence at 8:00 a.m. (London time) on or around the 8th of August 2024.
Updated Share Capital and Voting Rights
Following the Admission, Sure Ventures will have a total of 7,643,252 ordinary shares in issue. The total number of voting rights in the Company will also be 7,643,252. This updated figure can be used by shareholders for the calculations required to determine if they need to notify their interest in, or any changes to their interest in, the Company.
