Welcome

Following the Renovo Board’s decision to end the clinical trials of Prevascar in April 2012, it focused on its merger and acquisition plans and share buy back programme to enhance shareholder value. In December 2012, the Renovo Board was presented with the opportunity to participate in the £2.6 million firm and conditional placing in Ultimate Finance Group plc ("UFG"), in which Renovo invested £1.7 million equating to 12.3 per cent. of UFG’s issued ordinary share capital immediately following that placing. The Renovo Board considered the investment in UFG to conform with its current strategy of maximising value for its shareholders. Renovo sought to take advantage of an investment which it believed provided its shareholders with a valuable and beneficial opportunity in light of UFG’s aim to become a leading force in SME financial services.

Acquistion of Ultimate Finance Group plc

The directors are pleased that on 10 September 2013 a regulatory announcement was made to the Market announcing the successful completion of the transaction. For further information and to view the documents relating to the successful offer, please follow this link.

The acquisition of UFG is the first step in implementing Renovo’s strategy, which will provide an SME loan book of approximately £40 million and over 850 customers. The Renovo Board will support UFG in its growth plans by providing the security of a principally cash backed balance sheet and continuing to innovate the business model through a more technology focused platform. In addition the Renovo Board will continue to evaluate further acquisitions and alternative routes to access funding for SMEs at commercial rates which are accretive to the strategy.

Latest Financial statements

An indexed pdf version of our 2013 Annual Report is now available in our Investors' section. Interim announcements and Corporate Presentations can be found in the News tabs at the bottom of this page.

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Renovo Business Strategy

Renovo is building by organic growth and acquisition a new customer-friendly force in SME lending by deploying long term capital. The Renovo Board believes that there is an opportunity to grow considerably in an underserved sector, with SMEs traditionally finding credit difficult to access from the major clearing banks that often focus on the security and stability of retail and larger corporate lending.

Renovo is working to transform the SME lending business model and platform through a greater focus on technology and marketing, developing a broader array of lending products and providing alternative routes to access funding for SMEs at commercial rates which are accretive to the strategy.

News, Events and Announcements

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Renovo takes stake in Ultimate Finance Group

Friday, 21 December 2012

Renovo Group (LON:RNVO) has participated in the placing announced this morning by Ultimate Finance Group (LON:UFG).

Renovo has ploughed £1.7m into Ultimate Finance in return f...Read more

Renovo sells Prevascar for US$660,000

Thursday, 13 December 2012

 

Biotech junior Renovo (LON:RNVO) is set to claw back up to US$660,000 through the sale of its Prevascar assets.

In April Renovo confirmed pessimis...Read more