30 March 2020
FORBES VENTURES
("Forbes" or the "Company")
Board Changes and
Operational Update
Forbes Ventures announces that Kirk
Kashefi and Igor Zjalic have
resigned as Non-executive Directors of the Company with immediate
effect. Additionally, Igor
Zjalic has resigned as a director of Forbes’ subsidiary,
Forbes Ventures Investment Management Limited. The
resignations of Kirk and Igor are by mutual consent and follow
Forbes’ announcement of 2 March 2020,
which confirmed that the Company’s future strategy would focus on
the securitisation of litigation funding assets, via the
establishment of a Securitisation Cell Company (SCC) in
Malta.
Forbes expects to appoint additional directors to the Board as
the Company’s strategy progresses.
Peter Moss, Chairman of Forbes,
commented, “We would like to thank both Kirk and Igor for their
service to Forbes over the last couple of years and wish them both
the very best in their future endeavours. We at Forbes are
extremely excited about our new direction and the establishment of
our securitisation capability in Malta. The set-up of our
Securitisation Cell Company is progressing well, and we do not
foresee any delays in the process, despite the Covid-19
virus. While global markets may remain volatile in the short
term, we believe that securitised litigation funding assets, with
appropriate credit support, will prove to be popular with
institutional credit investors when the current market volatility
subsides.
The Directors of Forbes accept responsibility for the contents
of this announcement.
ENDS
For further information, please contact:
Forbes
Ventures
Peter Moss, Chairman
Rob Cooper, Chief Executive Officer |
01625 568 767
020 3687 0498 |
AQSE Corporate
Adviser
Peterhouse Capital Limited
Mark Anwyl and Allie Feuerlein |
020 7469 0930 |
Market Abuse Regulation (MAR)
Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.