26 July 2021
FORBES VENTURES
(“Forbes” or the “Company”)
Update on
Litigation Funding Securitisation and Suspension of Trading
Forbes Ventures provides a further update on its first
Litigation Funding Securitisation and an update on the suspension
of trading in its shares.
Litigation Funding Securitisation
Update
The Company has been advised by its Maltese Corporate Advisors
that the listing of the GBP 40
million two-year notes (the “First Issue”), for which Forbes
Ventures’ wholly owned subsidiary Forbes Ventures Investment
Management Limited (“FVIM”) acts as collateral agent, has now been
approved by the Listing Committee of the Maltese Financial Services
Authority.
The Directors are pleased that the listing process can now
commence with the Maltese Stock Exchange and look forward to the
first issue closing shortly.
The Company intends to proceed with the launch of its previously
announced second Litigation Funding Securitisation of GBP 60 million two-year notes immediately after
closing of the First Issue.
Suspension of Trading
The Company is making good progress with completion of its Audit
and expects to be in a position to complete the same within the
next 21 days. Upon completion and filing of the audit, the
Company will apply for trading in its ordinary shares to be
restored.
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
Allie Feuerlein |
020 7469 0930 |
Market Abuse Regulation (MAR)
Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms
part of retained EU law (as defined in the European Union
(Withdrawal) Act 2018).