RiverFort Global Opportunities (RGO), an AIM-listed investment firm, has secured shareholder approval to acquire a portfolio of health and wellness businesses from Aquis-listed S-Ventures. The transaction, classified as a reverse takeover under AIM Rules, received approval at RGO's recent AGM, with all resolutions passing by a majority of over 85%.
S-Ventures (SVEN) shareholders also voted in favour of the acquisition, securing all required consents. Admission of the enlarged group's share capital to AIM is expected on May 29, 2025. The deal transforms RGO from an investment vehicle to an operational company in the wellness sector, trading under the new name Tooru plc.
Tooru will inherit a diverse portfolio of businesses from S-Ventures, including plantain snack brand We Love Purely, protein bar manufacturer Pulsin, gluten-free food specialist Juvela, and e-commerce consultancy Market Rocket. The transaction is expected to deliver immediate revenue streams and operating cashflow, with RGO's board positioning the deal as a direct response to long-standing investor frustration.
A concurrent placing at 0.75p/share was launched to support the transaction, with £0.5m committed. In total, over 825 million new shares will be issued across consideration, debt conversion, and advisory fees. Scott Livingston, founder of S-Ventures, will join Tooru's board and emerge as a significant shareholder with 35% interest on admission.
RGO had been suspended from trading on AIM since March 22, 2024 under Rule 14, which mandates such action during a reverse takeover process. Following the publication of its admission document, the company's shares were restored to trading on May 9, 2025.
As mentioned, upon completion of the deal, RiverFort will trade under the new name Tooru. Its new ticker will be "TOO" and a new website will be available at tooruplc.com. The agreement will become unconditional and admission will become effective at 8:00 AM on May 29, 2025.
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