Forbes Ventures Plc - Update and Withdrawal from Trading
17 March 2023
(“Forbes Ventures” or the “Company”)
Update and Withdrawal from Trading
Forbes Ventures announces that the Company’s ordinary shares of 0.1p each will be withdrawn from trading on the Access segment of the AQSE Growth Market with effect from the close of business today, 17 March 2023.
As announced on 7 July 2022, the Company has been in negotiations with regard to a proposed acquisition that complements the strategy previously outlined by the Company. Following the withdrawal from trading, the Company intends to complete this acquisition, of an identified litigation funding vehicle, with the intention of re-listing the enlarged Forbes Ventures on an appropriate market within the next 12 months.
Forbes Ventures intends to use its time as a private company to stabilise the Company’s financial position and strengthen its balance sheet.
Forbes Ventures is continuing to investigate the failure of its litigation funding securitisation project, and intends to take appropriate action to recover the costs incurred by the Company in pursuing that project.
The Directors of Forbes Ventures accept responsibility for the contents of this announcement.
For further information, please contact:
AQSE Corporate Adviser
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.