Sivota PLC Apester's bankruptcy

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCRPMLTMTIMBRI