REG - Windward Ltd. - Update regarding Silicon Valley Bank

WindwardAnnouncement

13/03/2023 07:00

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RNS Number : 7186S  Windward Ltd.  13 March 2023

13 March 2023

 

Windward Ltd.

("Windward", "the Company")

 

Update regarding Silicon Valley Bank

 

Windward (https://windward.ai/) (LON: WNWD), the leading Maritime AI company,
provides an update in relation to Silicon Valley Bank ("SVB").

The Company confirms that it has minimal exposure to the closure of SVB in the
US and UK.  The total exposure above the amounts protected by the Federal
Deposit Insurance Corporation Scheme (which we now understand to be fully
protected https://home.treasury.gov/news/press-releases/jy1337
(https://home.treasury.gov/news/press-releases/jy1337) )  and the Financial
Services Compensation Scheme in the US and UK is in aggregate less than 0.5%
of the Company's cash position as at 31 December 2022.

As at 31 December 2022, the Company had total cash of $22.2m and remains well
capitalised.

The Board looks forward to providing investors with an update on current
trading with the issue of its Final Results for the year ended 31 December
2022, on 30 March 2023.

 

For more information, please contact:

 Windward Ltd.                                       Via Alma PR
 Irit Singer, CMO

 Canaccord Genuity (Nominated Adviser & Broker)      +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                             +44(0)20 3405 0205
 Caroline Forde / Kieran Breheny / Pippa Crabtree

 

About Windward

Windward (LSE:WNWD), a publicly-traded company on the London Stock Exchange,
is a leading Maritime AI company, enabling organizations to achieve business
and operational readiness. Windward's AI-powered solution allows stakeholders
including banks, commodity traders, insurers, and major energy and shipping
companies to make real-time, predictive intelligence-driven decisions,
providing a 360° view of the maritime ecosystem and its broader impact on
safety, security, finance, and business. For more information visit:
https://windward.ai/.

 

Prior to publication the information communicated in this announcement was
deemed by the Company to constitute inside information for the purposes of
article 7 of the Market Abuse Regulations (EU) No 596/2014 as amended by
regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations No
2019/310 ('MAR'). With the publication of this announcement, this information
is now considered to be in the public domain.

 

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