Malta, 19 March 2026:
On 12 March 2026, River Tech p.l.c. (the "Company", together with its
subsidiaries, the "Group"), announced that it had been notified of an order
which has resulted in the freezing of its subsidiary's operational bank account
(the "Order").
River Technologies Limited (the "Subsidiary") was on 13 March 2026 served the
official notification by an investigating judge with the Paris Court of the
Order for the criminal seizure of funds credited to the Subsidiary's bank
account.
Based on the Order, the factual and legal basis appears to be primarily a legal
issue raised by the Central Racing and Gaming Service (SCCJ) of the French
National Judicial Police Directorate (DNPJ). The Group's involvement apparently
concerns a prior customer of the Subsidiary, which has over the last six years
paid fees to the Subsidiary in respect of technical services rendered.
The proceedings are ongoing, and the investigation remains at a preliminary
phase. The Subsidiary is not charged or convicted of any offence at this stage.
However, the Order entails a seizure of the entire credit balance of the
Subsidiary's bank account for a total amount of EUR 51,2 million, of which the
current balance is approximately EUR 2,1 million, and the Company is of the
reasoned view that the Order would be in place for the foreseeable future.
The Group has been actively working with advisors in Norway, Malta and France,
as well as with stakeholders in order to secure funding for its continued
operations and to defend against the effects of the actions taken which have a
detrimental effect on the Subsidiary.
As the Group at this stage is likely unable to secure alternative liquidity or
financing, the Group's ability to maintain operations in the immediate future
will be severely impacted.
The Group, Company and the Subsidiary are in close dialogue with its advisors
and will provide additional updates as soon as practically possible.
For further information please contact:
Email: investors@river.tech
About RIVER TECH: RIVER TECH P.L.C. is a technology company offering a B2B
technology product. Focusing on assisting companies with specialist
competencies, by providing secure and tailormade, yet user-friendly solutions,
for the delivery of services within the online sphere. RIVER TECH P.L.C. is
registered in Malta and is listed on Euronext Growth under the ticker symbol
"RIVER".
For more information about RIVER TECH P.L.C: https://www.river.tech/
* * *
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to the Euronext Growth Oslo Rule Book Part II and as mandated by Financial
Supervisory Authority of Norway (Finanstilsynet) pursuant to MAR in Norway.
This stock exchange announcement was published by Rachel Mifsud Bonnici, Chief
Legal & Compliance Officer of River Tech plc on 19 March 2026 at 11:51 hours
CET.