Business
Statement re: Silicon Valley Bank
Statement re: Silicon Valley Bank.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n 13 March 2023\n \n \n \n \n \n \n \n \n Avacta Group plc\n \n \n \n \n \n \n \n \n (\"Avacta\" or \"the Group\" or \"the Company\")\n \n \n \n \n \n \n \n \n Statement re: Silicon Valley Bank\n \n \n \n \n \n \n \n \n Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics,\n can confirm that it has no banking relationship with either Silicon Valley Bank (\"SVB\") or Silicon Valley Bank UK (\"SVB UK\") and therefore no cash on deposit with them.\n \n \n \n \n \n This announcement follows the closure of SVB by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation as receiver, and the statement by the Bank of England noting that it has placed SVB UK into resolution.\n \n \n \n \n \n \n -E\n \n \n nds-\n \n \n \n \n \n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n \n For further information from Avacta Group plc, please contact:\n \n \n \n \n \n \n \n \n \n \n \n \n \n Avacta Group plc\n \n \n \n Alastair Smith, Chief Executive Officer\n \n \n Tony Gardiner, Chief Financial Officer\n \n \n Michael Vinegrad, Group Communications Director\n \n \n \n \n \n \n \n Tel: +44 (0) 1904 21 7070\n \n \n \n www.avacta.com\n \n \n \n \n \n \n \n Stifel Nicolaus Europe Limited\n \n (Nomad and Broker)\n \n \n \n Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Dhiren Suares / William Palmer-Brown\n \n \n \n \n \n \n \n Tel: +44 (0) 207 710 7600\n \n \n \n www.stifel.com\n \n \n \n \n \n \n \n FTI Consulting (Financial Media and IR)\n \n \n Simon Conway / Alex Shaw\n \n \n \n \n \n \n \n Tel: +44(0) 203 727 1000\n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n Zyme Communications\n \n (Trade and Regional Media)\n \n \n Lily Jeffery\n \n \n \n...