7 January 2022
FORBES
VENTURES
(“Forbes” or the “Company”)
Issue of Equity
and Director’s Interest
Further to the Company’s announcement of 10 December 2021, Forbes announces that debt of
£703,056 owed by the Company to CC Capital Limited (“CC Capital”)
has been converted into 18,748,170 ordinary shares of 0.1p each in
the Company ("Ordinary Shares") at a conversion price of 3.75p per
Ordinary Share. The conversion price represents the price of an
Ordinary Share on 29 June 2021, when trading in the Ordinary
Shares was suspended.
Following this issue, CC Capital now holds a total of
291,748,170 Ordinary Shares, representing 61.42 per cent of the
Company's enlarged issued share capital of 475,000,000 Ordinary
Shares.
As confirmed on 31 December 2021,
CC Capital is continuing to support Forbes, pending receipt of
funds by the Company from Litigation Funding Securitisations.
Rob Cooper, the Chief Executive of
Forbes, is a director of and major shareholder in CC Capital.
Application will be made for the Ordinary Shares to be admitted
to trading on the Access segment of the AQSE Growth Market and
admission is expected to become effective on Wednesday,
12 January 2022.
Following this issue, the Company has 475,000,000 Ordinary
Shares in issue, each share carrying the right to one vote.
This figure of 475,000,000 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
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
The information contained within this announcement is deemed by
the Company to constitute inside information. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
|
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them. |
| 1 |
Details of the person
discharging managerial responsibilities / person closely
associated |
| a) |
Name |
CC Capital Limited |
| 2 |
Reason for the
notification |
| a) |
Position/status |
PCA of Rob Cooper, Chief Executive
of Forbes Ventures |
| b) |
Initial notification /Amendment |
Initial |
| 3 |
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor |
| a) |
Name |
Forbes Ventures |
| b) |
LEI |
213800GI4RT4V84L8O71 |
| 4 |
Details of the
transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and
(iv) each place where transactions have been conducted |
| a) |
Description of the
financial instrument, type of instrument
Identification code |
Ordinary Shares of 0.1p
each
ISIN: KYG361891016 |
| b) |
Nature of the transaction |
Debt for equity
swap |
| c) |
Price(s) and volume(s) |
18,748,170 ordinary shares of 0.1p
each at 3.75p per share |
| d) |
Aggregated
information
- Aggregated volume
- Price |
n/a (single transaction) |
| e) |
Date of the transaction |
6 January 2022 |
| f) |
Place of the transaction |
n/a |