Pires Investments PLC (PIRI.L) Nicholas Lee, Non-Executive Director, Podcast

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to announce its unaudited interim results for the six-month period ended 30 April 2020.


 
Highlights

· Investment of £1.1 million in Sure Valley Ventures (“SVV”)

· Return of €803,000 achieved from the sale of Artomatix, one of the companies within the SVV portfolio, representing a 60% return on the initial SVV investment

· Placing to raise gross proceeds of £1.06 million from both new and existing investors to support the Company’s technology strategy

· Direct investment of €250,000 in Getvisibility, an artificial intelligence data management and security company

· Increase in value of other portfolio investments, such as VR Education Holdings plc (AIM: VRE) and Admix

· New SVV investments made during the period, including Buymie, the artificial intelligence based same day grocery delivery company and Getvisibility, as well as a follow-on investment in Admix which has developed a programmatic monetisation platform for gaming and other entertainment developers

· Cash at period end was £0.4 million , increasing to a current figure of £1.1 million

Nicholas has more than 25 years of experience in international investment banking and working as a company director. Nicholas was with Dresdner Kleinwort and its antecedent firms from 1988 to 2009, starting at Kleinwort Benson Group plc and rising to Managing Director, Head of Banking, Hedge Fund Solutions Group. Previously as a Managing Director in mergers and acquisitions at Dresdner Kleinwort Wasserstein, Nicholas advised leading companies from a number of different industries, including the natural resources, financial services, consumer and retail sectors.

Nicholas is currently investment director of AIM-listed RiverFort Global Opportunities plc and non-executive director of AIM-listed Immotion Group plc, as well as being involved with a number of other companies, both listed and private. Nicholas qualified as a chartered accountant with Coopers & Lybrand and has an MA in engineering from St John’s College, Cambridge.


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