REG - HgCapital Trust PLC - Update on Silicon Valley Bank

HgCapital TrustAnnouncement

13/03/2023 11:00

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RNS Number : 7525S  HgCapital Trust PLC  13 March 2023

HgCapital Trust plc

 

 UPDATE ON SILICON VALLEY BANK

 

London, 13 March 2023:  HgCapital Trust plc ('HGT'), would like to reassure
all shareholders that there is little to no impact on HGT from the collapse of
Silicon Valley Bank ('SVB').

 

Although last night's Joint Statement by the Department of the Treasury,
Federal Reserve, and FDIC(1) should eliminate all risk to depositors, in the
spirit of full transparency, we would like to update you on HGT's direct and
indirect exposure to Silicon Valley Bank.

 

·    Neither Hg, nor any of its managed funds, have related loan or
borrowing exposure with SVB.

·    None of the underlying portfolio companies have any outstanding
borrowings with SVB.

·    A small number of the underlying portfolio companies have limited
deposits with SVB, but no portfolio business is at risk as a result of this.

 

(1)https://www.fdic.gov/news/press-releases/2023/pr23017.html

 

 

- Ends -

 

The Company's 2022 Annual Report results were announced today and are
available to view at:  http://www.hgcapitaltrust.com/
(http://www.hgcapitaltrust.com/) .

 

 

For further details:

 

 HgCapital Trust plc
 Laura Dixon (Senior Investor Relations Manager, Hg)  +44 (0) 78 2459 2894
 Brunswick
 Azadeh Varzi                                         +44 (0)20 7404 5959

 

 

About HgCapital Trust plc

 

HgCapital Trust plc is an investment company whose shares are listed on the
London Stock Exchange (HGT.L). HGT gives investors exposure, through a liquid
vehicle, to a portfolio of high-growth unquoted companies, managed by Hg, an
experienced and well-resourced private equity firm with a long-term track
record of delivering superior risk-adjusted returns for its investors.

 

For further details, see www.hgcapitaltrust.com
(http://www.hgcapitaltrust.com) and www.hgcapital.com
(http://www.hgcapital.com)

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