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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sure Ventures Plc | LSE:SURE | London | Ordinary Share | GB00BYWYZ460 | ORD GBP0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 72.50 | 70.00 | 75.00 | 72.50 | 72.50 | 72.50 | 0.00 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trust,ex Ed,religious,charty | 0 | -430k | -0.0610 | -11.89 | 5.11M |
From May 2019 to May 2024
TIDMSURE
RNS Number : 8526L
Sure Ventures PLC
24 April 2018
SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market: SFS / Sector: Investment
24 April 2018
SURE VENTURES PLC
INFORMATION ON INVESTMENT APPROACH AND LOAN FACILITY
Sure Ventures plc (the "Company") announces further information on its investment approach and its entry into a loan facility.
As contemplated in the prospectus published by the Company on 17 November 2017, the Company has made a GBP5 million commitment to invest in the Suir Valley Venture Fund (the "Fund"), a sub-fund of Suir Valley Funds ICAV. It is expected that the Company's commitment to the Fund will be drawn down from time to time over a period of up to four years, dependent on the investment activity of the Fund. The Fund is managed by Shard Capital AIFM LLP ("SCAIFM") which is also the Company's manager.
Prior to the full drawdown of the Company's commitment to the Fund, the cash held by the Company will be utilised in accordance with the Company's stated investment policy and cash management policy. The directors, on advice from SCAIFM, consider that it is in the interests of shareholders for the cash held by the Company in respect of its commitment to the Fund to potentially be available for investment in suitable investment opportunities pending draw down by the Fund.
As stated in the Company's investment policy, the Company will seek to satisfy capital calls on its commitment to the Fund and other investee entities through a combination of reserves, realisation proceeds, borrowings and, potentially, further issues of equity.
In that regard, the Company has entered into a loan facility agreement with Shard Merchant Capital Limited, an associate of SCAIFM, which makes available to the Company a facility of up to GBP1 million (the "Loan Facility"). The Loan Facility may be drawn at any time for the purpose of satisfying capital calls or for other working capital purposes. Amounts borrowed under the Loan Facility are subject to interest charged at a rate of 3 per cent per annum and are repayable within four years of drawdown or (if earlier) on the fifth anniversary of the date of the loan facility agreement. The Loan Facility will only be utilised in accordance with the Company's stated borrowing policy.
For further information, please visit www.sureventuresplc.com or contact:
Hot Features
Premium
+44 (0) 20 7186
Gareth Burchell Sure Ventures plc 9918
Isabel de Salis / St Brides Partners (Financial +44 (0) 20 7236
Priit Piip PR) 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDDGGDSCUDBGIX
(END) Dow Jones Newswires
April 24, 2018 02:00 ET (06:00 GMT)
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