5th Aug 2024 10:58
(Alliance News) - Mindflair PLC increased its holding in fellow London listing Sure Ventures PLC, the two companies said on Monday, as both raised fresh funds.
Mindflair subscribed for 315,790 new shares of Sure Ventures at 95 pence per share, investing a further GBP300,000. Mindflair previously held 1.5 million Sure Ventures shares, for a 21% stake. Its new total of 1.8 million shares gives it 23.8% ownership.
Both Mindflair and Sure Ventures are technology investors. Sure Valley said it will use the fresh cash for a follow-on investment in the Sure Valley Ventures software fund and for general working capital purposes.
Late last month, Mindflair itself raised GBP925,000 from the issue of 92.5 million shares at 1.00p each.
Sure Ventures shares were quoted at 91.00p in London on Monday morning, unchanged, while Mindflair was down 2.1% to 1.15p.
By Tom Waite, Alliance News editor
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