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9 Jul 2024 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
09 July 2024
Sivota plc
("Sivota" or the "Company")
Apester's bankruptcy
Sivota has been informed by the board of Apester Limited ("Apester"), its majority owned subsidiary in Israel, that due to a deterioration in trading performance it can no longer proceed as a going concern, and following legal advice, Apester has taken the decision to file for bankruptcy. It is expected that the bankruptcy hearing will occur later this month in Tel Aviv. At this point, Sivota cannot assess what recovery it will make in respect of its investment in Apester, but that recovery is not expected to be material. As a result, the Board currently expects to write the carrying value of its investment in Apester to zero. Apester is the sole investment of the Company.
For further information, please contact:
Sivota PLC Tim Weller, Non-Executive Chairman Ziv Ben-Barouch, Chief Executive Officer www.sivotacapital.com | via Vigo Consulting |
Canaccord Genuity Limited Bobbie Hilliam
| + 44 (0) 20 7523 8000 |
Vigo Consulting Jeremy Garcia | + 44 (0)20 7390 0230 |
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