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DJ Forbes Ventures Plc Investment Option and Redemption of Loan Notes

 
TIDMFOR 
 
Forbes Ventures 
 
                          ("Forbes" or the "Company") 
 
                Investment Option and Redemption of Loan Notes 
 
Forbes Ventures announces that, in accordance with the Company's investment 
strategy, it has signed an option agreement relating to a potential investment 
in Primus Care PLC ("Primus") (the "Option"). 
 
Primus is a management company of businesses which specialise in the provision 
of residential care for children, the elderly and dementia sufferers, along 
with associated training. Primus was founded by a team of highly-qualified 
professionals with a proven track record in the world of finance and in the 
field of adult and child residential care. 
 
Further information on Primus is available at the following web address: 
www.primuscareplc.com. 
 
Under the Option, Forbes Ventures has the right to acquire new ordinary shares 
in Primus ("Primus Shares") in consideration for the issue to Primus of GBP 
500,000 nominal of secured convertible loan notes in the Company ("Notes"). 
 
The Notes will be convertible into a total of 166,666,667 ordinary shares of 
0.001 pence each in Forbes at a price of GBP0.003 per share, at the election of 
the noteholder, for a period of 18 months from the date of issue of the Notes. 
The Notes will be secured against the Primus Shares. The exact number of Primus 
Shares to be issued in consideration for the Notes will be agreed between the 
boards of Forbes and Primus prior to the Option being exercised and a further 
announcement will be made as appropriate. The Option expires on 30 December 
2016. 
 
In addition, the Company announces that the GBP650,000 convertible loan notes 
issued on 17 October 2016 have now been fully redeemed. 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
                                     ENDS 
 
For further information, please contact: 
 
Forbes Ventures                                    +44 20 3301 9346 
Peter Moss 
 
ISDX Corporate Adviser                              +44 20 7469 0930 
Peterhouse Corporate Finance Limited 
Guy Miller 
 
 
 
END 
 

(END) Dow Jones Newswires

December 22, 2016 02:00 ET (07:00 GMT)