Cash Realisation Following Partial Disposal

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 £3.5m.

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 £1.7m to date. In its interim results released on 28 September 2023, the Company was holding its investment in Robin at a Fair Value of £8.2m.

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: [phone]
(Nominated Adviser and Broker)
Chris Clarke
Lauren Kettle
Alma Strategic Communications	Email: [e-mail]
(Financial Communications Adviser)	Tel: [phone]
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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