- Technology investor Pires Investments said it was set to receive proceeds from Sure Valley Venture's decision to sell down part of its take in virtual reality group VR Education.

Sure Valley had sold around 3.36m shares in VR Education for about £522k, but planned to retain its remaining 4.38% holding in the company.

Pires, which had a 13% interest in Sure Valley, said it expected to receive around £65k from the sell down in due course.

'Thanks to the continued progress made by VR Education over recent months, we are delighted to note SVV's partial sale of shares to return its initial investment made into VR Education,' chairman Peter Redmond said.

'This marks the second realisation and distribution of funds to Pires, around some seven months after having made our initial investment.'

'We believe that this realisation is further endorsement of Pires' investment strategy and, with the software technology sector poised for further growth, we therefore hope this is the second of many.'

At 8:03am: [LON:PIRI] Pires Investments Plc share price was 0p at 3.65p

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