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LONDON - RiverFort Global Opportunities plc (AIM:RGO), soon to be renamed Tooru plc, has successfully passed all resolutions at its General Meeting concerning a reverse takeover, according to a company statement released on May 27, 2025. The company will proceed with the acquisition of certain subsidiaries and liabilities from S-Ventures plc, marking its transition into an operational entity within the health and wellness sector.
The acquisition was supported by S-Ventures’ shareholders, with completion and admission expected on May 29, 2025. The company has also raised £0.5 million through a non-underwritten placing, issuing new shares at 0.75 pence each.
On May 29, 2025, RiverFort Global Opportunities will admit 1,678,346,930 ordinary shares to trading on AIM, resulting in a total enlarged share capital that includes both new and existing ordinary shares. The new shares will rank equally with the current shares in circulation.
Following the acquisition, a Rule 9 waiver has been granted, allowing a concert party comprising S-Ventures, Scott Livingston, and his close relatives to hold a 35.14% interest in the company’s voting rights upon admission. Additionally, Scott Livingston will receive an option award for up to 149,856,544 new ordinary shares, potentially increasing the concert party’s holding to approximately 40.46% if all options are exercised.
Concurrent with the acquisition, there will be changes to the company’s board. Amanda Van Dyke and Andrew Nesbitt will step down, and Scott Livingston, Stephen Argent, Matthew Peck, and Alexander Phillips will take on roles as directors.
The company’s rebranding to Tooru plc will coincide with the completion of the acquisition, adopting the new ticker symbol "TOO" and launching a new website at https://tooru.com.
This strategic move positions the company within the burgeoning health and wellness industry, with the acquisition expected to enhance its operational capabilities. The information for this article is based on a press release statement issued by RiverFort Global Opportunities.
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