Sivota PLC Apester's bankruptcy
July 09 2024 - 2:00AM
RNS Regulatory News
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
Tim Weller, Non-Executive
Chairman
Ziv Ben-Barouch, Chief Executive
Officer
www.sivotacapital.com
|
via Vigo Consulting
|
|
Canaccord Genuity Limited
Bobbie Hilliam
|
+ 44 (0) 20 7523 8000
|
|
Vigo Consulting
Jeremy Garcia
|
+ 44 (0)20 7390 0230
|
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