REG - Sivota PLC - Apester's bankruptcy

SivotaAnnouncement

09/07/2024 07:00

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RNS Number : 5860V  Sivota PLC  09 July 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
‎VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW ‎BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.
‎ UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION
SERVICE, THIS INSIDE INFORMATION IS ‎NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.‎

09 July 2024

Sivota plc

("Sivota" or the "Company")

Apester's bankruptcy

 

Sivota has been informed by the board of Apester Limited ("Apester"), its
majority owned subsidiary in Israel, that due to a deterioration in trading
performance it can no longer proceed as a going concern, and following legal
advice, Apester has taken the decision to file for bankruptcy.  It is
expected that the bankruptcy hearing will occur later this month in Tel
Aviv.  At this point, Sivota cannot assess what recovery it will make in
respect of its investment in Apester, but that recovery is not expected to be
material. As a result, the Board currently expects to write the carrying value
of its investment in Apester to zero. Apester is the sole investment of the
Company.

 

For further information, please contact:

 

 Sivota PLC                                             via Vigo Consulting

 Tim Weller, Non-Executive Chairman

 Ziv Ben-Barouch, Chief Executive Officer

 www.sivotacapital.com (http://www.sivotacapital.com)
 Canaccord Genuity Limited                              + 44 (0) 20 7523 8000

 Bobbie Hilliam

 Vigo Consulting                                        + 44 (0)20 7390 0230

 Jeremy Garcia

 

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