Update re Juvela

Tooru, a company focused on the health and wellness sector, is pleased to announce that Juvela, the Company's leading gluten free producer, which recently launched its new retail brand, OAF, has now increased the number of products that it currently lists in Tesco to eight under the OAF brand, with week-on-week growth being achieved. At the same time, the Company is in advanced discussions with regard to listing these products with other major supermarket chains.

The new brand, OAF, is designed to attract a broader healthy foodie shopper in the Free-From aisle. OAF will operate as the Company's strategic retail-facing range, whilst the Juvela brand will continue to occupy its position as a leading coeliac prescription-led offer.

Unlike other gluten free brands, which tend to use rice flour, OAF and Juvela products are made using a specially formulated wheat starch with the gluten removed, meaning it is completely safe for a gluten free diet whilst making the taste and texture as close to conventional bread as it gets. Until now this unique process has mainly been used in prescription-coeliac bread offers, but OAF's mainstream brand proposition will open this innovation up to a broader healthy foodie, who may be omitting gluten for lifestyle choices, as well as coeliac consumers.

Juvela has been the most attractive business in the S-Ventures plc ("S-Ventures") portfolio and the main reason for the acquisition of the S-Ventures businesses by the Company which completed earlier this year. Juvela has a well-established market presence which combines a leading coeliac prescription-led product under the Juvela brand with a new product range designed to attract a broader healthy foodie shopper in the Free-From aisle. The previous owners, S-Ventures, in the past received a number of approaches to acquire this business, with a price indication in excess of £10 million for the shares of Juvela. Whilst no current offers are being pursued, this gives the Board confidence as to the value of this business even prior to the launch of OAF.

Since relisting, the Company has only raised new funds from the equity placing undertaken at the time and no additional debt has been drawn down under any previously announced debt facilities.

Going forward, the Company expects to increase the working capital available for Juvela to support and promote the developing demand for its brands through Juvela's existing funding arrangements.

Scott Livingston, CEO said:

"We are increasingly confident in the prospects for Juvela and believe that it has significant upside potential. Gluten free consumers - especially the younger, health-conscious segment - are not connecting with brands on the shelf, perceiving them as second best to conventional bread. This presents a significant opportunity to engage this audience with a vibrant, characterful brand that resonates with them, whilst showing how tasty and simple gluten free bread can be through our product innovation.

By combining Juvela's historical quality, craft and expertise with OAF's vibrant brand personality, we are on a mission to inject new energy, relevance, taste and enjoyment to the retail Free-From space, starting with a line of high-quality bakery goods, in the fastest growing areas of this category. All of this has been achieved in a relatively short period of time which, we believe, will ultimately create significant value for shareholders."