30 December 2021
(“Forbes” or the “Company”)
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.