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Primorus Investments ( (GB:PRIM) ) has shared an announcement.
Primorus Investments PLC, a company listed on the AIM market, announced that its investee company, Alteration Earth PLC, has acquired Pri0r1ty AI Ltd, a UK-based artificial intelligence SaaS company. In conjunction with this acquisition, Alteration Earth has raised £855,000 through the issuance of new ordinary shares, with Primorus investing £80,000 to acquire additional shares. This investment increases Primorus’s stake in Alteration Earth to approximately 12% of its issued share capital after the admission. The transaction highlights Primorus’s strategic involvement in the AI sector, potentially boosting its market position and enhancing shareholder value through significant holdings in Alteration Earth. The acquisition and subsequent raise aim to solidify Alteration Earth’s financial standing despite a previous annual loss, aligning both companies for anticipated growth.
More about Primorus Investments
YTD Price Performance: 102.27%
Average Trading Volume: 100,197
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £5.24M
See more insights into PRIM stock on TipRanks’ Stock Analysis page.
