29th May 2025 13:27
(Alliance News) - Tooru PLC started trading on AIM on Thursday as a health and wellness company, following the reverse takeover of the operating businesses of AQSE-listed S-Ventures PLC.
The reverse takeover was executed by Riverfort Global Opportunities PLC, which changed its name to Tooru.
The businesses purchased from S-Ventures include Juvela, a gluten-free bakery, as well as Pulsin and We Love Purely, which create healthy snacks. Together, they produced adjusted earnings of GBP800,000 on GBP7.2 million in revenue for the six months that ended June 30.
Tooru raised GBP500,000 from the sale of new shares at 0.75 pence, as part of its readmission to AIM and had a market capitalisation of GBP12.5 million at that price. The stock last traded at 0.29p midday Thursday.
S-Ventures remains listed on Aquis Stock Exchange as a cash shell. Its assets include a 27% stake in Tooru, plus a minority shareholding in Coldpress Foods Ltd and a dormant subsidiary, Ohso Chocolate Ltd. S-Ventures said it may distribute some or all of its Tooru shares to its own shareholders, but it also will look for new investment opportunities.
S-Ventures shares remain suspended from trading on AQSE, but the company said it expects the suspension to be lifted, with an announcement "shortly".
By Tom Waite, Alliance News editor
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