26th Feb 2024 12:14
(Alliance News) - RiverFort Global Opportunities PLC on Monday said it has raised GBP760,000 through the sale of Smarttech247 Group PLC shares.
The High Wycombe-based asset manager said it has sold 4 million shares in Smarttech247 at a price of 19 pence per share, raising GBP760,000.
Smarttech247 is a Cork, Ireland-based artificial intelligence-enhanced cybersecurity services provider. Its shares were up 30% to 24.75p each in London on Monday around midday.
Shares in RiverFort Global Opportunities were up 11% to 0.25p.
RiverFort now holds 3.6 million shares in Smarttech247, a 2.9% stake.
RiverFort Chair Philip Haydn Slater said: "Whilst we remain very positive about our investment in Smarttech247 and this company's prospects, as previously announced, the Board is in the process of reviewing various options for the Company to provide better value and returns for its shareholders and so we have taken the opportunity to realise a profit and increase our level of cash resources to provide additional flexibility as part of this process."
By Sophie Rose, Alliance News senior reporter
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