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.