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Chairman resigned, securitisation not happening.
Looks likes they've mucked it up and our money has gone with it... Nice one!
Trading and Strategy Update
Litigation Funding Securitisation
The Company has continued to pursue the listing and closing of 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.
The Company continues to be advised by its Maltese Corporate Advisors, HG & Partners Limited (Malta), that there remains strong interest from the prospective investor in closing the transaction, but that the current volatility in the credit markets is causing further delays.
Whilst the Maltese Corporate Advisors continue to provide assurances to the Company regarding the prospective closing of the transaction, the continued delays in completing the listing and closing inevitably pose a risk to the likely success of the issue.
The Company will provide further updates upon receipt of information from its Maltese Corporate Advisors.
Corporate Strategy
The Company has continued to develop its strategy as outlined in the announcement of 21 February 2022 and has now identified a preferred strategic investment and is in negotiations with regard to the proposed acquisition.
It has also entered into negotiations with a debt capital provider with regard to investment in the Company to enable Forbes to scale the proposed acquisition.
Further announcements will be made when appropriate.
Suspension of Shares
Due to continued uncertainty regarding the First Issue, the Company will be unable to complete the audit of its accounts for the year ended 31 December 2021 before the 30 June 2022 deadline. Accordingly, the Directors have requested that trading in the Ordinary Shares should be suspended with effect from the commencement of business on 30 June 2022. It is anticipated that the audit will be completed by Friday, 12 August 2022.
The Directors of Forbes Ventures accept responsibility for the contents of this announcement.
I assume you were trying to sell at least 100,000?
0.9 to sell…ouch.! Think I might as well just hold and keep the excitement going LOL
That was my 65,000 sell, all done now after six years. good luck to everyone else.
The 500k sell was mine. I was holding too many and with there being little likelihood of anything coming good from Forbes, I invested more in Petroteq. You can buy for under 30 cts and receive 74cts Canadian within a couple of months. See today’s news issued by Petroteq and Viston. No brainer when you look at the minimal risk, but please DYOR.
the end is nigh.... 2 big sells today one 500k.
Not good at all.
And as it happens I suppose he is getting rich from his me group business when perhaps he should have put up the cash for for the securitisations through that business backing any borrowing
Rob cooper is an idiot
His rns releases about the Malta securitisation was deplorable.
He is a scum bag. Cost us all a lot of money enticing us to hold for them.
Only good thing was that it returned to market so some of us had a choice of exiting.
About time he done something with this soon
Hi I’ve still got all my shares but I think Rob copper need to take a look at him self plus he won’t reply to me on LinkedIn.
No point he will say when news becomes available we will notify the market.. Also where is Wressmycash and Crow? I have completely sold out now but look in with incredability that the mythical securiritisarions are still not secured after 3 years of promising. We were all taken for a ride..
we should chase Rob Cooper for an update https://uk.linkedin.com/in/robcoopersr
Did you see that flying pig ? All been led up the garden path on this one,the bod dont even keep you in the loop,if they did proberbly more bull**** of more securations thats never going to materialize,not in here anymore after loosing a large amount of money and they just get away with it,theres loads of us that got burnt here
Every day is a sale day now, Cheers Rob Cooper ME group CEO
Weve got two hopes....and one of them is Bob
I’m the latter. Still invested and wondering what the chances are of this springing into life.
My opinion is those not in negative equity have cashed out whilst they could, those in negative are only hopefully or have lost so much its better to stay in and pray we get an update from Rob Cooper one of these days.
Yes I am sure at some point it will come back with decent news. At least management have skin in the game and I am sure would like to get their money back and make a decent profit.
Worth holding still
Can someone who is still invested give a balanced view on +ve and -ve factors affecting probability of recovery? Are we doomed or is there still a chance this could turn around?
Holding but toying with cutting my loses. A good company looks after their shareholders and doesn't leave them in the dark.
F U Rob
Thanks bulldog
Perhaps we will re enter this share with an improved outlook
i agree this is a bad investment, No communication from Rob copper at all most people invested are at huge losses yet he doesnt care clearly.
I sold out at end of February and lost money but in hindsight it was the right descison as I would have lost more as it stands today. I think there is more chance of Lord Lucan making an appearance than the Maltese securitisations materialising.
Its good to see a few old faces posting on here today and I wish everyone luck with their investments. Wress I am glad to read that you have done well with Polymetal - fortune favours the brave ! I am now heavily invested in THG as I beleive a massive rerate in the share price will occur very soon.