2 March 2020

FORBES VENTURES

(“Forbes” or the “Company”)

Director/PDMR Shareholding and Holding in Company

Forbes Ventures announces that it has been notified by Quanta Capital Limited (“Quanta”) that Quanta has transferred its holding of 273,000,000 ordinary shares of 0.1p each in the Company (“Ordinary Shares”) to MEGH UK Limited (“MEGHUK”), at a price of 0.0915p per Ordinary Share. MEGHUK is jointly owned by Rob Cooper, the Chief Executive of Forbes, and Craig Cornick, both of whom were also directors of and shareholders in Quanta.

The Ordinary Shares held by MEGHUK represent 59.84% of the Company’s issued share capital. The Company has received a TR-1 which is reproduced without amendment below. Following this transaction, Quanta no longer has a notifiable interest in the Company.

The Directors of Forbes accept responsibility for the contents of this announcement.

ENDS

For further information, please contact:

Forbes Ventures

Peter Moss

Chairman

01625 568 767

Rob Cooper

Chief Executive Officer

020 3687 0498

NEX Exchange Corporate Adviser

Peterhouse Capital Limited

Mark Anwyl and Fungai Ndoro

020 7469 0930

 

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Forbes Ventures

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes withan “X”)

An acquisition or disposal of voting rights X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Details of person subject to the notification obligation

Name: MEGH UK Limited

City and country of registered office (if applicable): Manchester, United Kingdom

4. Full name of shareholder(s) (if different from 3.)

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached: 28/02/2020

6. Date on which issuer notified (DD/MM/YYYY): 28/02/2020

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights of issuer vii
Resulting situation on the date on which threshold was crossed or reached 59.84 59.84 456,251,830
Position of previous notification (if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type of shares ISIN code (if possible) Direct (Art 9 of Directive 2004/109/EC) (DTRS.1)) Indirect (Art 10 of Directive 2004/109/EC)(DTRS.2.1) Direct (Art 9 of Directive 2004/109/EC)(DTR5.1) Indirect (Art 10 of Directive 2004/109/EC)(DTRS.2.1)
Ord GBP 0.001 273,000,000 59.84
KYG361891016
SUBTOTAL 8.A 273,000,000 59.84

B 1: Financial Instruments according to Art. 13(1)(a) of Directive
2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument Expiration date Exercise/Conversion Period Number of voting rights may be aquired if the instrument is exercised/converted % of voting rights
SUBTOTAL 8. B1

B 2: Financial Instruments with similar economic effect according to Art. 13
(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument Expiration date Exercise/Conversion Period Number of voting rights may be aquired if the instrument is exercised/converted % of voting rights
SUBTOTAL 8. B2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer X

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity(please add additional rows as necessary)

Name % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information

Place of completion Manchester, United Kingdom

Date of completion 28 February 2020

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.