TIDMFWD

RNS Number : 3265W

Forward Partners Group PLC

11 December 2023

Forward Partners Group plc

("Forward Partners" or "the Company")

Cash Realisation Following Partial Disposal

Forward Partners Group plc (LSE: FWD) the London-based investment firm specialising in supporting high-growth, early-stage technology businesses, confirms a cash realisation from the partial disposal of its holding in Robin AI Limited ("Robin"), generating net cash proceeds of GBP3.5m.

Robin is a legal-tech company which utilises generative AI to improve the speed and reduce the cost of agreeing contracts. In June 2023 it was selected for the "Ones to Watch" feature of UK start-ups in the 2023 edition of The Sunday Times 100. Forward Partners first invested in Robin in 2019 and has provided the business with a total investment of GBP1.7m to date. In its interim results released on 28 September 2023, the Company was holding its investment in Robin at a Fair Value of GBP8.2m.

In this disposal, which values Robin at 4% above the value disclosed in the interim results, Forward Partners will sell approximately 41% of its holding.

Enquiries

 
 Forward Partners Group plc               Via Alma 
 Nic Brisbourne, CEO 
 Lloyd Smith, CFO and Company Secretary 
 
 Liberum Capital Limited                  Tel: +44 (0)20 3100 
                                           2222 
 (Nominated Adviser and Broker) 
 Chris Clarke 
 Lauren Kettle 
 
 Alma Strategic Communications            Email: forward@almastrategic.com 
 (Financial Communications Adviser)       Tel: +44 (0)20 3405 
                                           0205 
 David Ison 
 Andy Bryant 
 Will Ellis Hancock

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

About Forward Partners

Founded in 2013, Forward Partners is an established and respected London-based venture capital firm, specialising in supporting high growth, early-stage technology businesses in the UK. It holds a ten-year track record of making venture capital investments and receives over 4,000 start-up funding applications every year.

The Group brings together venture capital with highly specialised growth support from Forward's Studio. This model supports founders to build stronger businesses faster to provide better outcomes for companies and investors alike.

The management team brings together highly experienced venture capitalists, entrepreneurs, and expert consultants. Since 2015, Forward Partners has been backed by BlackRock, one of the largest institutional investors in the world.

For more information and insights into Forward's portfolio, visit www.forwardpartners.com .

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END

UPDFFASAFEDSELE

(END) Dow Jones Newswires

December 11, 2023 03:51 ET (08:51 GMT)

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