REG-Forbes Ventures Plc: Investment Option and Redemption of Loan Notes <Origin Href="QuoteRef">FORF.L</Origin>

Fortis FrontierAnnouncement

22/12/2016 07:05

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
£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 £0.003 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 £650,000 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 Peter Moss                         +44 20 3301 9346  
 ISDX Corporate Adviser                             +44 20 7469 0930  
 Peterhouse Corporate Finance Limited  Guy Miller                     



Copyright (c) 2016 PR Newswire Association,LLC. All Rights Reserved