30 March 2020
("Forbes" or the "Company")
Board Changes and Operational Update
Forbes Ventures announces that Kirk Kashefi and Igor Zjalic have resigned as Non-executive Directors of the Company with immediate effect. Additionally, Igor Zjalic has resigned as a director of Forbes’ subsidiary, Forbes Ventures Investment Management Limited. The resignations of Kirk and Igor are by mutual consent and follow Forbes’ announcement of 2 March 2020, which confirmed that the Company’s future strategy would focus on the securitisation of litigation funding assets, via the establishment of a Securitisation Cell Company (SCC) in Malta.
Forbes expects to appoint additional directors to the Board as the Company’s strategy progresses.
Peter Moss, Chairman of Forbes, commented, “We would like to thank both Kirk and Igor for their service to Forbes over the last couple of years and wish them both the very best in their future endeavours. We at Forbes are extremely excited about our new direction and the establishment of our securitisation capability in Malta. The set-up of our Securitisation Cell Company is progressing well, and we do not foresee any delays in the process, despite the Covid-19 virus. While global markets may remain volatile in the short term, we believe that securitised litigation funding assets, with appropriate credit support, will prove to be popular with institutional credit investors when the current market volatility subsides.
The Directors of Forbes accept responsibility for the contents of this announcement.
For further information, please contact:
Peter Moss, Chairman 01625 568 767
Rob Cooper, Chief Executive Officer 020 3687 0498
AQSE Corporate Adviser
Peterhouse Capital Limited 020 7469 0930
Mark Anwyl and Allie Feuerlein
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.