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DJ Forbes Ventures Plc Board Changes, Issue of Equity, Restoration of Trading

29 November 2017 
                                Forbes Ventures 
                          ("Forbes" or the "Company") 
           Board Changes, Issue of Equity and Restoration of Trading 
Further to the Company's announcement of 25 October 2017 and following 
publication of the Company's interim results for the six months ended 30 June 
2017 earlier today, Forbes is pleased to announce that trading in the Company's 
ordinary shares of 0.1 pence each ("Ordinary Shares") is expected be restored 
on the NEX Exchange Growth Market with effect from 08.00 today, 29 November 
2017 ("Restoration"). 
In connection with Restoration, the Company announces that the remaining GBP 
68,500 of unsecured convertible loan notes 2017 ("Loan Notes") have been 
subscribed for by Belvedere Capital Limited ("Belvedere"). On Restoration, the 
GBP100,000 nominal of Loan Notes held by Belvedere will be converted, at a 
conversion price of 0.1p per Ordinary Share, into 103,000,000 Ordinary Shares 
(including 3,000,000 Ordinary Shares issued in respect of the arrangement fee 
and interest on the Loan Notes). Moreover, conditional on Admission, Belvedere 
has agreed to acquire 70,000,000 Ordinary Shares from Gravity Investment Group 
Limited, also at a price of 0.1p per Ordinary Share. Accordingly, on 
Restoration, Belvedere will be interested in a total of 173,000,000 Ordinary 
Shares, representing 48.56 per cent of the Company's enlarged issued share 
capital of 356,251,830 Ordinary Shares. 
Belvedere, incorporated in the British Virgin Islands, was established to act 
as the holding company of a private investment group focused on technology 
investments in the Northern Powerhouse region. Robert ("Rob") Scott Cooper, who 
is a director of and major shareholder in Belvedere, will be appointed as an 
Executive Director of the Company on Restoration and Manish Karani will resign 
as a non-executive Director of the Company in order to pursue his other 
business interests. 
Rob benefits from 15 years' experience in financial services, risk management 
and regulation, and is actively focused upon start-up firms that seek to 
disrupt traditional professional services through the use of technology.  Rob 
will be responsible for implementing the Company's re-focused investment 
strategy, which will be to invest in disruptive technology in the property and 
fintech sectors, and in the tangible assets of firms which are in those 
sectors. The Company's current investments comprise 4,545 ordinary shares in 
"challenger" bank, Civilised Investments Limited, and 2,500,000 ordinary shares 
in AIM traded K&C REIT Plc. The Company currently intends to retain these 
Following the above issue of Ordinary Shares, the Company's issued share 
capital comprises 356,251,830 Ordinary Shares and the Company is aware of the 
following interests in 3 per cent or more of the Company's issued share 
Shareholder                            Number of Ordinary Shares        % 
Belvedere Capital Limited                     173,000,000             48.56 
Robust Resources Limited                       67,631,153             18.98 
Goldvista Properties Limited                   50,000,000             14.04 
Peterhouse Corporate Finance Limited           17,613,746             4.94 
Gravity Investment Group Limited no longer has a notifiable interest in the 
The proceeds of the subscription for Loan Notes will be used to satisfy current 
outstanding creditors of the Company. 
Peter Moss, the Chairman of Forbes Resources commented, "I am very pleased to 
welcome Rob Cooper to the Board of Forbes Ventures.  Rob has created a number 
of disruptive businesses around real estate lending platforms and associated 
Fintech products.  Under Rob's direction and management, the Board believes 
that Forbes Ventures is now in an excellent position to take advantage of this 
exciting sector to deliver real returns to shareholders.  As Rob will be 
replacing Manish Karani on the Board, I would like to thank Manish for his hard 
work on the Board over the past year and his dedication to Forbes Ventures.  We 
wish him every success in his future endeavours." 
The Directors of the Company accept responsibility for the contents of this 
For further information, please contact: 
Forbes Ventures 
Peter Moss - Chairman                                           020 3405 6214 
Rob Cooper - Chief Executive Officer                            020 3687 0498 
NEX Exchange Corporate Adviser 
Peterhouse Corporate Finance Limited               020 7469 0930 
Mark Anwyl and Fungai Ndoro 
Additional Information on Robert Scott Cooper 
Save as set out below, there is no further information that is required to be 
disclosed pursuant to Paragraph 21, Appendix 1 of the NEX Exchange Growth 
Market Rules for Issuers. 
Current directorships/           Directorships/partnerships in the last five 
partnerships                                                           years 
Belvedere Services (UK) Limited.                              Athena VC Ltd. 
Belvedere Capital Ltd. (BVI)                              Automate Tech Ltd. 
Innovate Technologies Ltd.                                   BLF Assets Ltd. 
Janus Business Solutions Ltd.                              BLF Holdings Ltd. 
Janus VC Ltd.                                         Emperor Financial Ltd. 
ME Group Holdings Ltd.                           High Street Solicitors Ltd. 
More Lending Solutions Ltd.                          Innovative Fintech Ltd. 
Private Client Solutions                               More Collections Ltd. 
(Manchester) Ltd. 
Scott Robert Consulting Ltd.                      More Lending Holdings Ltd. 
Scott Robert LLP                          Syndicated Lending Strategies Ltd. 
Solar and Eco Solutions Ltd. 
SRG000 Ltd. 
SRG002 Ltd. 
SRG004 Ltd. 
 1. Private Client Solutions (Manchester) Ltd. underwent a corporate voluntary 
    arrangement insolvency in July 2015. Mr. Cooper was a director at the time 
    the insolvency commenced. The total amount of money owed to creditors was 
    approximately GBP20,249.42. 
 2. SRG002 Ltd. was ordered to undergo a compulsory liquidation on 19 September 
    2016. Mr. Cooper was a director at the time the insolvency commenced. 
 3. Scott Robert Consulting Ltd. is dissolved following the company having been 
    "in administration." Mr. Cooper was a director at the time the insolvency 
    commenced. According to corporate filings, the company owed approximately GBP 
    66,593 to creditors. 
    Market Abuse Regulation (MAR) Disclosure 
    The information contained within this announcement is deemed by the Company 
    to constitute inside information as stipulated under the Market Abuse 
    Regulation (EU) No. 596/2014. Upon the publication of this announcement via 
    a Regulatory Information Service, this inside information is now considered 
    to be in the public domain. 

(END) Dow Jones Newswires

November 29, 2017 02:03 ET (07:03 GMT)