Riverfort Global Opportunities (RGO)

Sector:

Financials

Index:

FTSE AIM All-Share

 0.80p
   
  • Change Today:
      0.000p
  • 52 Week High: 8.50
  • 52 Week Low: 0.55
  • Currency: UK Pounds
  • Shares Issued: 678.93m
  • Volume: 0
  • Market Cap: £5.43m
  • RiskGrade: 580

Paternoster enters agreement with RiverFort Global Capital

By Josh White

Date: Thursday 18 Jan 2018

LONDON (ShareCast) - (ShareCast News) - Paternoster announced on Thursday that it has entered into an agreement with RiverFort Global Capital - a specialist provider of financing to the natural resources sector - whereby Paternoster will work closely with and co-invest alongside RiverFort in a range of opportunities within the natural resources sector.
The AIM-traded firm described RiverFort as a "highly-respected" provider of specialist financing to the natural resources sector, providing equity, convertible debt and senior project finance solutions.

As a participating co-investor with Cuart Investments PCC - a Gibraltar Experienced Investor Fund to which RiverFort is the investment director - Paternoster would gain access to a pipeline of investment opportunities.

Furthermore, investors wishing to obtain exposure to RiverFort's investment opportunities would have the opportunity to do so through a listed vehicle by investing in Paternoster.

The board said the initiative was both in line with its existing investing policy, and would enable it to significantly increase its level of activity.

"Since its formation, RiverFort has been able to generate very attractive returns for its investors," the Paternoster board noted.

"In 2016, its first year of operation, Cuart Investments PCC Ltd - Cuart Growth Capital Fund I achieved an increase in its audited NAV of over 15% between July and December 2016 with a similar level of performance expected for 2017.

"Over this period, RiverFort, in conjunction with its co-investors, have arranged investments of over $74m."

Paternoster said the RiverFort team had an international footprint and a range of financial, entrepreneurial and industrial expertise.

It also announced that, as part of the strategy, the company has - through Shard Capital Partners - placed 772,727,270 new ordinary shares at a price of 0.11p per share with institutional and private investors to raise gross proceeds of £0.85m.

The funds raised would be used to pursue opportunities in line with its existing investing policy that it expected to arise as a result of the agreement with RiverFort.

Furthermore, to strengthen the board with additional relevant expertise, it said it intended for Andrew Nesbitt - a member of the RiverFort team - to join the board as a non-executive director subject to compliance with the AIM rules.

It said Nesbitt is a mining specialist and a qualified mining engineer.

He would bring more than 20 years of experience in the natural resources sector and was an experienced investor as a result of working as a partner and portfolio manager for Craton Capital, a global precious metals fund with more than $400m of assets under management.

Further to the issue of placing shares, Paternoster said Shard Capital Partners had been appointed as joint broker to the company.

"I am delighted that we have agreed to work closely with RiverFort," said chairman Nicholas Lee.

"This will significantly assist the company in pursuing its investment strategy and enable it to increase further the return on its investment portfolio."

Lee said it was a "very significant" development for Paternoster, providing a clear strategy for the company going forward, building on what had already been established as well as taking it to "the next level".

"This initiative is also expected to provide the company with access to additional capital in the future which will allow the company to grow and develop further.

"I am also very pleased with the quality of the new investors that have now come on board and who are very supportive of this approach," Lee added.

"Furthermore, the coard will clearly be strengthened by the addition of Andrew to the team."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RGO Market Data

Currency UK Pounds
Share Price 0.80p
Change Today 0.000p
% Change 0.00 %
52 Week High 8.50
52 Week Low 0.55
Volume 0
Shares Issued 678.93m
Market Cap £5.43m
RiskGrade 580

RGO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
81.01% above the market average81.01% above the market average81.01% above the market average81.01% above the market average81.01% above the market average
68.42% above the sector average68.42% above the sector average68.42% above the sector average68.42% above the sector average68.42% above the sector average
Price Trend
99.06% below the market average99.06% below the market average99.06% below the market average99.06% below the market average99.06% below the market average
97.18% below the sector average97.18% below the sector average97.18% below the sector average97.18% below the sector average97.18% below the sector average
Income Not Available
Growth
66.95% above the market average66.95% above the market average66.95% above the market average66.95% above the market average66.95% above the market average
73.33% above the sector average73.33% above the sector average73.33% above the sector average73.33% above the sector average73.33% above the sector average

RGO Dividends

No dividends found

Trades for --2020

Time Volume / Share Price
0 @ 0.000p

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