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Forbes Ventures Plc - Securitisation Update and Temporary Suspension PR Newswire

29 June 2021

FORBES VENTURES

(“Forbes Ventures” or the “Company”)

Litigation Funding Securitisation Update and Suspension of Trading

Forbes Ventures provides a further update on its first Litigation Funding Securitisation and announces that it has requested that trading in the Company’s ordinary shares of 0.1p each in the  Company ("Ordinary Shares") on the Access segment of the AQSE Growth Market be suspended pending the release of the Company’s audited results for the year ended 31 December 2020.

Litigation Funding Securitisation Update

The Company has been advised by its Maltese Corporate Advisors, HG & Partners Limited (Malta), that there has been further delays in 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.

The Directors are frustrated at the continuing delays and are entirely reliant upon information relayed by its Maltese Corporate Advisors as to the progress towards listing and closing.

Whilst the Maltese Corporate Advisors continue to provide assurances to the Company as to the progress they are making, and that the delays are procedural in nature, the continued delays in completing the listing and closing inevitably pose risk to the likely success of the issue.

The Company is advised by its Maltese Corporate Advisors that it is possible that the First Issue and the second Litigation Funding Securitisation of GBP 60 million two-year notes may be listed and closed at the same time.

The Directors are continuing to liaise with the Maltese Corporate Advisors and will issue further updates on progress in due course.

Suspension of Shares

On 26 May 2021, the Company was notified by its then auditors, AMS Accountants Group, that it could no longer conduct the audit of Forbes Ventures and its subsidiary companies as they were unable to secure Professional Indemnity Insurance to cover the audit of publicly traded companies. AMS Accountants Group have confirmed that there are no circumstances in connection with its resignation as auditor that should be brought to the attention of the Company's members or creditors.

The Company immediately commenced a search and selection process to identify a suitably qualified firm to appoint for the 2020 accounts audit and have selected Sedulo Audit Ltd.

As a result of only recently appointing the new auditors, the Company will be unable to complete the audit of its accounts for  the year ended 31 December 2020 before the 30 June 2021 deadline. Accordingly, the Directors have requested that trading in the Ordinary Shares should be suspended with effect from the commencement of business on 29 June 2021.

The Company will make further announcements as appropriate. 

The Directors of Forbes Ventures accept responsibility for the contents

No stamp duty on aim shares.

Mike your hl account will be set to auto Reinvest by default. You can change this setting to have monies held in your account or paid directly to your bank account. Hope this helps.

That's correct Andy, Ipswich won 2 nil . Paul Mariner scored both goals.

https://www.eurasiamining.co.uk/investors/latest-trades

Transcript
https://twitter.com/iMuesliBrown/status/1395394256861270016

https://mobile.twitter.com/GMF782/status/1406544280282406913

https://www.eurasiamining.co.uk/investors/latest-trades

@Macman67, transcript of interview with Nomad.
https://twitter.com/iMuesliBrown/status/1395394256861270016

http://www.karametals.com/#:~:text=Kara%20Metals%20seeks%20to%20develop,that%20enable%20environmentally%20clean%20operations.

https://find-and-update.company-information.service.gov.uk/company/12305548/officers

https://www.eurasiamining.co.uk/investors/corporate-calendar

thought my vasectomy would keep my wife from getting pregnant, but apparently it just changes the color of the baby.

https://twitter.com/iMuesliBrown/status/1395394256861270016

hey you go
https://twitter.com/iMuesliBrown/status/1395394256861270016

https://images.app.goo.gl/4YMRRFK12AucYy7g9

Franny, the bloke is John Meyer .
Head of research at sp angel who are our nomad and joint broker.

You might be able to afford a C Reg Corsa if your lucky!!!

In another 10 years you may be allowed to drive one.

The Board will continue to explore value creating options for the Company. Eurasia's current advisers will be advising on these value creating options.

A gambler gets a notice from the IRS that he is being audited.

The gambler calls his tax attorney and they go to see the IRS agent. As they are waiting in the office, the IRS agent looks over his paperwork and says: “The reason for your lifestyle is that you have a relatively lavish lifestyle but not much income to justify it, can you tell me what you do for a living?” The gambler says, “I am a professional gambler.” “A gambler?” The IRS agent said, with a confused and slightly puzzled expression on his face. “Yes I make my money by betting, would you like a demonstration?” “Sure,” said the IRS agent. “Let’s have a demonstration.” “I will bet you $1,000 that I can bite my eye.” “OK you have a bet” replied the IRS agent. The gambler pops out his glass eye and bites it. The IRS agent is shocked but he did agree to a $1,000 bet in front of the gamblers attorney. “All right, all right that was not really fair.” said the gambler. “I will give you a chance to win your money back. I will bet you another $1,000 that I can bite my other eye.” The IRS agent looks over the guy's paperwork and sees that he is not legally blind and takes the bet. The gambler takes out his dentures and bites his other eye. The IRS agent is now visibly stressed now that he’s lost $2,000. The Gambler then says to the IRS agent “I will tell you what. Double or nothing, I will stand on the edge of your desk, close my eyes and **** into the garbage can on the other side of the room without spilling a drop, what do you say?” The IRS agent is a bit unsure, but does not see how that would be possible and takes the bet. The gambler stands on the agents desk unzips his pants, closes his eyes and ****es all over the agents desk. “YES!!!!!” exclaimed the IRS agent knowing he won the bet and does not own the gambler any money. “Ahhh ****.” said the gambler’s attorney. “What’s the matter?” asked the IRS agent. The attorney said,“Well, he bet me $20,000 that he will come to your office today, **** all over your desk, and you would be happy about it.”