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For those concerned by the spread, the above is wrong. On Aquis where Forbes is traded, it is showing the correct bid of 2p.
Only 5 trading days left for the announcement! Mcap still under £10m.
Not long to go before we receive news on Forbes Ventures Cell One Limited. Am interested to find out how MEF Cell One Ltd will be used.
Well one day closer to the update on the Eurobond issue and hopefully more. The tension and the excitement is building.
5p on funds and Malta prospectus rns
Much more to come after
BIG news very soon . CASH IN THE BANK. This has many bags to going by the end of this month 7-8p per share could be more.
come on you beaut
Why is it so difficult for LSE to show the correct bid and offer price currently? If you check the Aquis site the exchange on which they are listed, the bid is currently 2p and the offer 2.3p. With the end of the month fast approaching by which time an update has been promised by the company, I expect a further increase in the SP this week. With the mcap still under £10m compared with SYME the current securitisation company in vogue which has an mcap of £157m, there is a huge gap in value to fill.
For potential investors this is a link which explains very well how the Maltese securitisation Cell works. https://www.mandaris.com/malta/assets/File/Publications/Securitisation%20Brochure.pdf
Over the phone deals only via hl.
News should drop soon on as explained here....... FORBES VENTURES
(“Forbes” or the “Company”)
Update on Litigation Funding Securitisation
Forbes Ventures is pleased to announce that, further to the announcement of 2 March 2020, it has established a wholly owned UK subsidiary, Forbes Ventures Cell 1 Limited (the “UK Cell”).
The UK Cell has been established to acquire UK-issued litigation funding loans, through the assignment of the related receivables - i.e. the litigation funding loans themselves and the interest thereon (“the Securitised Assets”) - to Forbes Ventures CC 1 (the “Maltese Cell”). The Maltese Cell is a Securitisation Cell Company in Malta, which is held in a bankruptcy remote structure and as such is not owned by the Company.
To finance this securitisation, the Maltese Cell will shortly be issuing a prospectus relating to the proposed offer (the “Offer”) of 2-year bonds (the “Bonds”) and their admission to trading on the Malta Stock Exchange. The Offer has an aggregate value of EUR 35 million. A further announcement will be made at the time of closing of the Offer, which is expected later in September 2020. The net proceeds of the Offer will be paid to the UK Cell as consideration for the assignment of the Securitised Assets to the Maltese Cell, and will provide the funds for the UK Cell to acquire litigation funds in the UK.
Forbes Ventures’ wholly owned subsidiary, Forbes Ventures Investment Management Limited (“FVIM”), acts as originator and collateral agent for the UK Cell and is responsible for the selection and oversight of the Securitised Assets. FVIM will receive a cash fee for this transaction, upon closing, equivalent to 2% of the funds raised in the Offer.
It is the Company’s intention that the infrastructure which it has established for this securitisation will also be used to facilitate the securitisation of both further litigation funding and other assets across a range of industries. The Company confirms it is in discussion with multiple prospective counterparties from whom it may purchase assets for this purpose. Further announcements will be made upon the Company entering into any such arrangements.
The Directors of Forbes accept responsibility for the contents of this announcement.
Hey chaps, What is the story here?
I am not seeing any data on map, shares in issue etc on LsE and not able find this stock on IG Markets. I have checked HL which do list the company, however not available to buy . If anyone here could explain that would be great.
Set up for a bag this one
News coming, cash in bank coming, NEWS NEWS NEWS BOOM BOOM BOOM SOON
From the last RNS for anyone new looking in -
"It is the Company’s intention that the infrastructure which it has established for this securitisation will also be used to facilitate the securitisation of both further litigation funding and other assets across a range of industries. The Company confirms it is in discussion with multiple prospective counterparties from whom it may purchase assets for this purpose. Further announcements will be made upon the Company entering into any such arrangements."
It is that which I find exciting about the future growth for Forbes Ventures. SYME with an mcap of £157m (as I write this) will be dealing with inventory securitisation. Forbes is initially dealing with litigation finance securitisation but as their statement above says, they are not going to stop there. With an mcap of under £10m currently, there is a massive opportunity now to buy in at the beginning of the story.
For those new to Forbes have a look at the ME Group Holdings its parent company for the excellent growth they have seen in just a few years. https://www.mortgageintroducer.com/me-group-400-increase-profit-before-tax/
Topped up this morning with another £1k. Think this share has a long way to go UP.
Sorry don’t know. You will need to ring them. I expect that you will have to ask them to buy for you as the shares are in such short supply.
Hargreaves lansdown will be busy tomorrow
Aj, raising cash via a placing to fund a cell is not allowed.
It doesn’t work like that.
I am planing on buy 6k worth tomorrow or Monday , I think in the next week, There going to be a big rise due to pre news to around 3.5p, and I think on news a 200% rise due to over subscribing on the Cell .
So a price of 7p but I think the board mite raise cash to fund a never cell or a buy out by the ME group. which mean around the 15 -20p mark
can you trade on IG forbes ventures..?
I’m topping up first thing
Hi aj, why do you think there will be a good rise tomorrow?
R u buying large?
Hi AJ. Are you still planning to buy tomorrow? As you rightly say not long to go now until the Bond subscription news. It's what they plan to do next that is going to be interesting.
Nice to see the spread dropping . I think we will see a nice rise tomorrow and only 9 days left before good news . Then boom.
I have no doubt that in time we will see the ME Group take a 100% interest in Forbes Ventures in some way or other. At the moment the make-up of the shareholdings seem to be as follows:-
MEGH 273,000,000 59.83537644
Robust Resources 67,631,153 14.82320696
Goldvista Properties 50,000,000 10.95886015
Peterhouse 17,613,746 3.86053158
Gravity Investment Group 5,833,333 1.27853361
Balance 42,173,598 9.24349125
Gravity is in liquidation.
I am very happy they are using Forbes Ventures and there are other avenues they have said they are exploring for Forbes to participate in. With ME Group only holding just under 60% at present, there is the added possibility of complete takeover at some point. Great reasons to buy shares now whilst as you say AJ it is still under the radar.
https://www.business-live.co.uk/enterprise/liverpool-law-firm-provenio-launches-18941804 Interesting read here aj.
love to know how many customer they have for the Cell ,Plus if it was over subscribe , by how much, this could be the share of the year and it so far under the radar it unreal .