Update on Silicon Valley Bank

RNS Number : 7525S

HgCapital Trust PLC

13 March 2023

 

H gCapital Trust plc

 UPDATE ON SILICON VALLEY BANK

London, 13 March 2023:  HgCapital Trust plc ('HGT'), would like to reassure all shareholders that there is little to no impact on HGT from the collapse of Silicon Valley Bank ('SVB').

Although last night's Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC¹ should eliminate all risk to depositors, in the spirit of full transparency, we would like to update you on HGT's direct and indirect exposure to Silicon Valley Bank.

· Neither Hg, nor any of its managed funds, have related loan or borrowing exposure with SVB.

· None of the underlying portfolio companies have any outstanding borrowings with SVB.

· A small number of the underlying portfolio companies have limited deposits with SVB, but no portfolio business is at risk as a result of this.

¹ https://www.fdic.gov/news/press-releases/2023/pr23017.html

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The Company's 2022 Annual Report results were announced today and are available to view at:  http://www.hgcapitaltrust.com/ .

For further details:

HgCapital Trust plc
Laura Dixon (Senior Investor Relations Manager, Hg)	[phone]
Brunswick
Azadeh Varzi	[phone]

About HgCapital Trust plc

HgCapital Trust plc is an investment company whose shares are listed on the London Stock Exchange (HGT.L). HGT gives investors exposure, through a liquid vehicle, to a portfolio of high-growth unquoted companies, managed by Hg, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors.

For further details, see www.hgcapitaltrust.com and www.hgcapital.com

 

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