30th Nov 2016 13:53
LONDON (Alliance News) - Stellar Resources PLC on Wednesday said it has proposed changing its name to better reflect its investment policy.
The company said Stellar Resources presents a "natural resources bias" not in keeping with the "direction of travel" in terms of its current and potential investment portfolio.
Instead, it has proposed changing its name to Primorus Investments PLC, the Latin word for 'early' or 'leading' and reflective, the company said, of its intention to invest in early-stage equity or debt issues.
Stellar holds interests in the Horse Hill oil discovery in England and in the Dolgellau gold belt in Wales but in September bought a stake in Fresho Pty Ltd, an unlisted Australian company which makes a cloud-based platform designed to streamline the food order process for restaurants.
Shares in Stellar were up 4.3% at 0.14 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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