Pires Investments Share Discussion Threads

[arab3] 10/2/2023 12:33

surprised the BOD at TERN are not putting in a bid at this price

[richer133] 10/2/2023 11:19

Engage XR raises £8.8M to capitalise on professional Metaverse opportunity
Sure Valley Ventures’ first investee company, ENGAGE XR Holdings Plc (AIM: EXR; Euronext Growth: EXR), has announced it has successfully raised £8.8 million via an oversubscribed placing of new shares.

This new funding will fuel ENGAGE’s journey to becoming a world-leading provider of virtual communications solutions through its new corporate metaverse.

Sure Valley Ventures initially invested in ENGAGE XR, formerly Immersive VR Education, in March 2017 and helped the Company scale up to IPO on the AIM Market of the London Stock Exchange in March 2018.

ENGAGE clients include well-known companies across many different business verticals, including Meta, 3M, Stanford University, Lenovo, HTC, KIA, and many more. ENGAGE is working hand in hand with each organisation to help make their virtual metaverse strategies a reality.

Sure Valley Ventures is an AI-focused venture capital firm which helps early-stage software entrepreneurs grow and scale businesses that will have a global impact.

In January 2023, ENGAGE announced it had successfully developed and demonstrated the integration of AI into its metaverse platform. ENGAGE’s engineering team used Open AI programmes, Chat GPT-3 and DALL.E to inhabit an avatar called Athena for real time conversations and interactions with humans. There is a demonstration here: hxxps://youtu.be/pK6Uo5-jDfE

Commenting on the Placing, David Whelan, Chief Executive, said:
“I am absolutely delighted by the support shown by both new investors and existing shareholders in this successful oversubscribed Placing. I am very excited by the opportunities for ENGAGE XR and the funding from this Placing provides the Company with the balance sheet strength to really capitalise on our leading market position and deliver against the significant market opportunity before us.”

[stentorian] 26/1/2023 16:55

hxxps://www.sureventuresplc.com/2023/01/12/issue-of-equity-2023/
"Sure Ventures PLC-Issue of Equity
Sure Ventures plc (“the Company”) is pleased to announce that it has raised gross proceeds of £ 200,000 by way of a private placing. This represents the issue of 191,387 new Ordinary Shares at 104.5p a share. This was the closing mid-price on the 11th of January 2023.

The money will be used for further investments, follow-on investment in Sure Valley Ventures (ICAV), the Sure Valley Ventures UK Software technology fund and general working capital purposes. The Investment has been made by one Institutional Investor.

Application has been made in respect of Ordinary Shares to be admitted to trading on the Specialist Funds Segment of the Main Market of London Stock Exchange plc (“Admission221;). Admission will become effective and dealings in the Ordinary Shares will commence at 8:00 a.m. (London time) on and around the 18th of January 2023.

Following Admission, the Company will have 6,646,472 Ordinary Shares in issue. The total number of voting rights of the Company will be 6,646,472. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company."

Why haven't Pires disclosed to shareholders that Pires Investments PLC interest in Sure Ventures PLC has diluted?

[roleybirkin] 21/1/2023 21:09

Not sure what a SPAC has to do with the thought of RGO and PIRI coming together?

[festario] 21/1/2023 21:05

Those elements are not so expensive, so not so attractive as to initiate a merger.Not only that, but SPACs are very dodgy ventures and seem to revolve around the secrecy of 'mates' in the know about impending listings, placings and RTO's Murky stuff, and they are more about making Directors have a comfortable lifestyle than looking after shareholders or actually creating anything.More of a financial instrument than an actual company.

[roleybirkin] 21/1/2023 20:49

So Festario, you do not think RGO/PIRI could save on admin expenses plus shared compliance, due diligence fees and regulatory control?
What about risk and legal expenses?
What about the companies coming together with one board of directors and senior leadership team?

[festario] 21/1/2023 15:13

Economies of scale only usually apply when a company which physically produces something is able to benefit from sharing its costs with a business it acquires.Like construction companies sharing trucks, scaffolding etc.A SPAC basically buys shares in other businesses, and sometimes even these businesses are just other SPACs.So, I can't see how economies of scale could ever apply in a situation like this.What are they going to do? Share tweeting?

[kemche] 21/1/2023 14:00

But would they be able to get two sets of salaries?

[roleybirkin] 21/1/2023 13:05

Interesting thought oliver.
Not sure Chris would be that keen, but I do feel an RGO and a PIRI could look to merge there companies and holdings?
RGO have an EV of just £3.88m against a NAV latest of £11.6m...

RGO taking out a PIRI would make eminent sense as they could have economies of scale on there joint costs and enhance the business NAV?

[oliversydney] 12/1/2023 19:52

With the share price at a low and trading at over 50% below net asset value RiverFort and Chris Akers who between them control 35% of the company must be tempted to make a bid for the company as the chance night not present itself again

[stentorian] 19/12/2022 10:15

TIDM:"S247"

[stentorian] 02/12/2022 14:40

kaos3,

Link as requested:



Pires is invested indirectly through Suir Valley Funds ICAV (acting solely in respect of its sub-fund, Sure Valley Ventures). As well as indirectly via Sure Ventures plc direct investment in Suir Valley Funds ICAV (acting solely in respect of its sub-fund, Sure Valley Ventures).

[stentorian] 02/12/2022 14:31

Warrants a gogo for RGC.

Who are "RGC" they are not a defined term in the document but it is clear they are a Riverfort vehicle.

22.3 Smarttech247 has agreed to procure, on Admission:

(a) the issue by the Company to RGC acting by its trading division, Fortified Securities, 380,984 warrants over Ordinary Shares, with a 48-month term and exercisable at the Placing Price with respect to introductory services for the Placing;

(b) the issue by the Company to RGC acting by its trading division, Fortified
Advisory, 161,834 warrants over Ordinary Shares, with a 48-month term and exercisable at the Placing Price with respect to corporate finance services with respect to Admission (the aggregate warrants being granted to RGC being 542,818 warrants over Ordinary Shares);

(c) the payment of a sum by the Company to RGC acting by its trading division, Fortified
Securities, of £113,000 with respect to introductory services for the Placing, which RGC has
elected to subscribe for shares in the Company at the Placing Price. Further details are set
out in paragraph 14(ix) of this Part VII (Additional Information).

[kaos3] 02/12/2022 14:30

stentorian- can you please put down the link of the admission document? TIA

[stentorian] 02/12/2022 14:01

What is the betting Nicholas Lee is rewarded with share options? Will these be passed on to Pires' shareholders pari passu?

"15. Long Term Incentive Plan and EBT
The Board recognises the importance of share participation as a mechanism for recruiting,incentivising and rewarding Directors and employees."

...of course not!

[boxerdogz] 02/12/2022 13:50

F off TROLL

[stentorian] 02/12/2022 13:47

From the Smarttech247 Admission document:


14. Material contracts
...

(xi) Agreement with Conduity Capital plc
On 30 November 2022, Smarttech247 entered into an agreement with Conduity Capital
PLC (“ConduityR21;) pursuant to which Conduity agreed to transfer to Smarttech247 certain retainers with professional advisors in connection with Admission and the Placing, and Smarttech247 agreed to take responsibility for payment of such retainers with effect from the date of the agreement. The agreement was entered into as a result of a change of transaction structure in respect of Admission, with which Conduity was originally involved, with the Group now enjoying the benefit of the retainers"
(Page 111)

Nicholas Lee is a director at Conduity Capital plc.

Nicholas Lee is an Executive FD in Smarttech247 but receives no remuneration directly.

Do your own research!

[boxerdogz] 02/12/2022 13:33

stentorian2 Dec '22 - 13:28 - 4813 of 4813

F OFF TROLL

[stentorian] 02/12/2022 13:28

Boxer -

How does Nicholas Lee have the time to be an FD at Smarttech247?

What percentage to PIRI have in Smarttech it is less than 1% isn't it?



"Nicholas Lee – Executive Finance Director (aged 59)
Nicholas Lee has over 30 years of experience in international investment banking and working as a
company director. He qualified as a chartered accountant with Coopers & Lybrand and has a
degree in engineering from St John’s College, Cambridge. He worked for Dresdner Kleinwort and its
antecedent firms from 1988 to 2009, rising to Managing Director, Head of Banking, Hedge Fund
Solutions Group. During this period, he advised leading companies from a number of different
industries. Since then, he has been actively involved in AIM as a director of a number of listed
companies."
(Page 20)

Nicholas Lee
Current directorships (pages 103-104)
ACL Capital Limited
RiverFort Global Opportunities
plc
Chiswick School
Boustead Agriculture Limited
JL Services Limited
Pires Investments plc
Immotion Group plc
Oil and Gas Solutions Limited
Conduity Capital plc