Further Investment in Fresho Pty Ltd
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Primorus Investments plc (AIM: PRIM) is pleased to announce that the Company has acquired an additional 290,166 ordinary shares in Fresho Pty Ltd ("Fresho") at a price of AUD$0.85 per ordinary share for total consideration of AUD$246,641 (approximately £126,000).
Primorus subscribed for the 290,166 ordinary shares in Fresho at a price of AUD$0.85 per share from its existing cash resources. Following this investment, Primorus now holds 3,705,889 shares in Fresho, representing approximately 3.77% of Fresho's issued share capital on a fully diluted basis.
Rupert Labrum, Chairman, commented: "We are very encouraged by the progress of Fresho, evidenced by its increased annualised recurring revenue. The speed at which it is scaling in the UK provides a very positive outlook for the company and its future business plans. We look forward to updating shareholders as Fresho progresses with its plans".
In the year ended 30 June 2022, Fresho had turnover of AUD$2.6 million and made a loss of AUD$4.3 million.
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