S-Ventures PLC
("S-Ventures", the "Company" or the "Group")
Resumption of trading
Further to the announcement made on 27 May, the Company is pleased to announce that the disposal of its operating subsidiaries, together with the transfer of substantially all of its liabilities to Tooru plc has completed.
S-Ventures now holds 466,666,666 new ordinary shares in Tooru, representing approximately 26.7%. of Tooru's enlarged share capital. The Company is confident of the prospects for Tooru and is pleased that Juvela, Tooru's leading gluten free producer, has launched a new brand and range, supported by a state-of-the-art new allergen-free bakery, to expand its sales in the Free-From category. The new brand, "OAF", is designed to attract a broader healthy foodie shopper in the Free-From aisle and has been launched in Tesco stores. OAF will operate as Juvela's strategic retail-facing range, whilst the Juvela brand will continue to occupy its position as a leading coeliac prescription-led offer.
S-Ventures has accumulated tax losses which may in the event that the Company were to engage in a qualifying trading activity in the future, be utilized against profits. The amount of tax losses potentially available is estimated as at 31 December 2024 to be in excess of
The Company is pleased to announce that the temporary suspension of listing of the Company's ordinary shares on the Aquis Growth Market has been lifted with effect from 8.00 a.m. today and that trading of the ordinary shares, has been restored.
For more information, please contact:
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The Company Stephen Argent (Chief Financial Officer) Scott Livingston (Chief Executive Officer) |
+44 (0) 203 475 0230 |
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AQSE Corporate Adviser and Broker: VSA Capital Limited Andrew Raca, Dylan Sadie
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+44 (0) 20 3005 5000 |
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