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DJ Forbes Ventures Plc Litigation Funding Securitisation Vehicle

 
TIDMFOR 
 
2 March 2020 
 
                                FORBES VENTURES 
 
                          ("Forbes" or the "Company") 
 
    Establishment of Litigation Funding Securitisation Vehicle; Technology 
                            Agreement with ME Group 
 
Forbes Ventures announces that its wholly owned UK subsidiary, Forbes Ventures 
Investment Management Limited ("FVIM"), has entered into an agreement to 
establish a Securitisation Cell Company (the "SCC") in Malta.  The purpose of 
the SCC is to facilitate the securitisation of litigation funding assets 
primarily through the acquisition of litigation funding loans which have been 
issued in the UK.  FVIM's revenue under the arrangements will be correlated to 
the volume of securitisation, and the price at which it can acquire the assets 
which are to be securitised. 
 
The Company also announces that it has entered into an agreement with ME Group 
Holdings Limited ("ME Group"), a UK-based litigation funding and LegalTech 
specialist, under which ME Group has been engaged to supply distributed ledger 
technology ("DLT") to Forbes and FVIM to facilitate the administration of the 
securitised litigation funding assets.  Under the terms of this agreement, ME 
Group will also be engaged to manage and administer the DLT platform. 
 
The Company expects that the first securitisation of litigation funding via the 
SCC will be complete and generating revenue for the Company within 
approximately 6 months. 
 
Rob Cooper, Chief Executive Officer of Forbes, is a director of and significant 
shareholder in ME Group. Craig Cornick, who, together with Rob Cooper, jointly 
owns MEGH UK Limited, which is interested in 59.84% of the Company's issued 
share capital, is also a director of and significant shareholder in ME Group. 
 
The Directors of Forbes accept responsibility for the contents of this 
announcement. 
 
                                     ENDS 
 
For further information, please contact: 
 
Forbes Ventures 
Peter Moss, Chairman                                          01625 568 767 
Rob Cooper, Chief Executive Officer                           020 3687 0498 
 
NEX Exchange Corporate Adviser 
Peterhouse Capital Limited                                    020 7469 0930 
Mark Anwyl and Allie Feuerlein 
 
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 
 

(END) Dow Jones Newswires

March 02, 2020 02:02 ET (07:02 GMT)