No Material Exposure to Silicon Valley Bank

RNS Number : 7406S

Team17 Group PLC

13 March 2023

 

13 March 2023

Team17 Group plc

("Team17", the "Group" or the "Company")

No Material Exposure to Silicon Valley Bank

Team17 Group plc , a global games label, creative partner, developer and publisher of independent ("indie") premium video games, educational entertainment ("edutainment") apps for children and working simulation games, notes the news regarding Silicon Valley Bank, Santa Clara, California ("SVB") and confirms that Team17 USA, part of Team17 Games Label division has a legacy banking relationship with SVB, but the account is no longer used for current trading.

The Group's exposure to SVB represents less than 1% of the Group's current cash reserves and as such is immaterial to the Group's liquidity position.

Enquiries:

Team17 Group plc Debbie Bestwick MBE, Chief Executive Officer Mark Crawford, Chief Financial Officer	via Vigo Consulting
Houlihan Lokey (Nominated Adviser) Adrian Reed / Tim Richardson	[phone]
Berenberg (Broker) Chris Bowman / Toby Flaux / Marie Moy / Alix Mecklenburg-Solodkoff	[phone]
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Fiona Hetherington / Kate Kilgallen [e-mail]	[phone]

About Team17

Team17 Group plc is a global provider of games entertainment to a broad audience. The Group now includes a games entertainment label and creative partner for indie developers, a leading developer of educational apps, targeting children under the age of eight and a leading working simulation games developer and publisher.

  Visit  www.team17.com  for more info.

 

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