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DJ Forbes Ventures Plc Investee Company Update

 
TIDMFOR 
 
10 April 2018 
 
                                Forbes Ventures 
 
                                  ("Forbes") 
 
                            Investee Company Update 
 
Forbes Ventures has been notified by its investee company, Civilised Bank 
Limited (the "Bank"), that the Bank has decided to release the banking licence 
granted to it by the Bank of England in 2017 and to reapply for a new licence 
to launch as soon as practicable.  This decision was taken because delays in 
the Bank's IT build mean that it will not meet its mobilisation deadline of 23 
May 2018. The Bank's Board of Directors decided that to release the Bank's 
banking licence and to reapply while finalising the IT build is in the best 
interest of its shareholders. 
 
Forbes holds 4,545 ordinary shares in Civilised Bank Limited. 
 
The Directors of Forbes accept responsibility for the contents of this 
announcement. 
 
                                     ENDS 
 
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 
Mark Anwyl and Fungai 
Ndoro 
020 7469 0930 
 
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

April 10, 2018 04:29 ET (08:29 GMT)