A legal row has erupted after Pri0r1ty Intelligence Group PLC accused investor Primorus Investments plc of violating a lock-in agreement.
AI, data and marketing services group Pri0r1ty says Primorus – like itself, listed on London’s junior Alternative Investment Market – was not allowed to dispose of its shares in the firm for 12 months following its flotation on 30th December 2024.
Primorus announced on 25th June 2025 that it had done just that. Pri0r1ty says it is investigating this disposal.
Pri0r1ty’s share price has fallen from above 10p at IPO to just above 4p today, having dropped 8.5% today following this morning’s accusation against Primorus.
“For the duration of the lock-in period, Primorus Investments plc agreed not to dispose of ordinary shares in the capital of the company (save for in limited circumstances… which do not apply to this disposal),” the latter said in a notice to the London Stock Exchange.
“The company and its advisers are continuing to investigate the circumstances surrounding Primorus Investments plc’s disposal of its shareholding in the company and in that context the company announces that it has sent a letter of claim to Primorus Investments plc reserving its rights to commence legal proceedings against that entity seeking appropriate relief.
“The company awaits a substantive response from Primorus Investments plc and will decide on next steps when it has received and considered that response.
“While the directors share the concerns expressed by shareholders regarding the Primorus Investments plc disposal, they remind shareholders that as this matter may give rise to legal proceedings, the company will be unable to provide additional commentary regarding the matter other than through announcements when appropriate.”
Pri0r1ty is billed as a ‘Swiss Army Knife for SME growth’ and delivers custom AI GPT solutions for customers. Its business growth services range from investor relations to commercial lending.
The group also includes Halfspace, a data-driven marketing and technology business which primarily operates in the sports and entertainment sectors serving Premier League football clubs, motorsports teams, sports leagues, national governing bodies, sporting federations, digital media businesses and direct-to-consumer platforms.
The response came within six hours.
“Primorus Investments plc notes the release earlier today of an announcement by Pri0r1ty Intelligence Group PLC concerning a lock-in agreement to which the company was a party.
“The company has received a pre-action letter from lawyers acting for PR1, which the company intends to defend robustly. Further announcements will be made in due course.”