VBL plc - Strategic Review

On 20 March 2023, VBL plc announced that it has started a strategic review to assess available options with a view to further developing VBL, increasing shareholder value and ensuring continuous expansion within its core market. The Company is considering a number of possible strategic options, including the possibility of raising further capital from strategic and/or financial investors or carrying out equity transactions, including options which might result in a change to the shareholding structure. In view of this, the Company will start discussions with local and international advisors to map out potential opportunities. As part of this process, the Company will explore and perform a comprehensive evaluation of strategic options and initiatives to unlock and maximise shareholder value going forward.

VBL stated that no decision to the selection of specific strategic options has been made so far and there is no certainty if and when such decisions will be made in the future. VBL also noted that financing of the current development cycle is secured and the ongoing review will seek strategies and plans for the next development cycle.