30 December 2021
FORBES
VENTURES
(“Forbes” or the “Company”)
Update on
Litigation Funding Securitisation and Restoration 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
Forbes is advised by its Maltese Corporate Advisors that Forbes
Ventures CC 1 (the “Issuer”) for which the Maltese Corporate
Advisor acts as manager, did not receive the expected binding
commitments for the First Issue by 17 December 2021. The
Issuer is continuing its discussions with multiple investors and
the Company is continuing to work on the First Issue during the
last week of December 2021. The Company will make further
announcements upon receipt of relevant information.
Publication of Results and Restoration
of Trading
The Directors expect that the Company’s audited accounts
for the year ended 31 December 2020,
and the interim accounts for the period to 30 June 2021, will be published on 31
December 2021, and that trading in the Company’s ordinary shares on
the Access segment of the AQSE Growth Market will be restored
following those announcements.
CC Capital Limited (formerly MEGH UK Limited), the Company’s
principal shareholder, has confirmed that it will continue to
provide funds to meet the operating costs of Forbes Ventures,
pending receipt of funds by the Company from Litigation Funding
Securitisations.
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 |
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).