Windward says has minimal exposure to SVB
13/03/2023 07:17
LONDON, March 13 (Reuters) - British technology company
Windward said on Monday it did not have material exposure to
Silicon Valley Bank following the failure of the U.S.
start-up-focused lender SVB Financial Group SIVB.O last week.
"The total exposure above the amounts protected by the
Federal Deposit Insurance Corporation Scheme and the Financial
Services Compensation Scheme in the U.S. and UK is in aggregate
less than 0.5% of the company's cash position," Windward said.
As at 31 December 2022, the company had total cash of $22.2m
and remains well capitalised.
(Reporting by Andres Gonzalez; editing by John O'Donnell)
((andres.gonzalez@thomsonreuters.com; +44 (0) 7551 790019;
Reuters Messaging:
andres.gonzalez.thomsonreuters.com@reuters.net))