Laytons ETL’s Equity Capital Markets team advised Beaumont Cornish in its role as Nominated Adviser (Nomad) of AIM-quoted Riverfort Global Opportunities Plc (which has now been renamed Tooru Plc) (Tooru), in relation to a proposed acquisition and proposed placing.
The transaction involved Tooru acquiring certain subsidiaries of Aquis quoted company S-Ventures Plc (SVEN) which constituted a reverse takeover under the AIM Rules for Companies and required the admission of the enlarged share capital of Tooru was admitted to trading on AIM on 29 May 2025.
In connection with the acquisition, Tooru issued a total of 836,276,079 new ordinary shares at an issue price of 0.75 pence per share comprised of 466,666,666 consideration shares, 356,335,200 loan conversion shares, and 13,274,213 fee shares. A further 66,666,664 shares at 0.75 pence per share were issued pursuant to a placing.
Our Equity Capital Markets team was led by Joan Yu (Partner and Head of Corporate) and supported by Cameron Sutton (Associate) and George Roberts (Trainee Solicitor).
