Primorus increases investment in Australian firm Fresho

Primorus Investments announced an additional investment in Fresho on Friday, acquiring 1,254,469 preference shares at a price of AUD 1.15 (59p) per share.

The AIM-traded firm said the total investment amounted to AUD 1.44m, or about £0.74m, and was funded from its existing cash resources.

It said the acquisition increases its holdings in Fresho, a foodservice software platform, to 4,245,531 ordinary shares and 1,254,469 preference shares, representing 5.01% of Fresho’s total issued share capital on a fully-diluted basis.

The newly-acquired preference shares carried rights similar to those of ordinary shares, further strengthening its position in the company.

At 1025 BST, shares in Primorus Investments were up 7.69% at 3.5p.

Reporting by Josh White for Sharecast.com.