Investment in Armstrong Ventures plc

RNS Number : 1583V

Pires Investments PLC

23 October 2014

 



Pires Investments PLC

("Pires" or the "Company")

Investment in Armstrong Ventures PLC

The Company announces that it has subscribed for 476,190,476 new shares in Armstrong Ventures PLC ("Armstrong") at a price of 0.021 pence per share for a consideration of £100,000, representing approximately 13 per cent of Armstrong's issued share capital.

Armstrong today announced that it had raised in aggregate £330,000, before expenses, through the issue of 1,571,428,569 new ordinary shares at a price of 0.021 pence per share.

Peter Redmond (Chairman) was today appointed as a director of Armstrong.

Armstrong is an AIM quoted investing company with an investing policy to invest principally in companies in the resources and energy sectors.

Peter Redmond commented:- "Our investment in Armstrong, we believe, takes our strategy forward. Some of the transactions that we see require a rapid route to the public markets and we consider that having a significant stake in an AIM-quoted investment company will facilitate our ability to provide such a route. There are a number of possible transactions that we will review with the Armstrong board in the coming weeks."

Enquiries:

Pires Investments plc Peter Redmond, Chairman	Tel: [phone]
Nominated Adviser Cairn Financial Advisers LLP Liam Murray / Avi Robinson	Tel: [phone]
Broker Peterhouse Corporate Finance Duncan Vasey / Lucy Williams	Tel: [phone]

 

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