River Tech – Submission of court winding-up applications

23 Mar 2026 17:37 CET

Malta, 23 March 2026:


Reference is made to previous announcement made by River Tech p.l.c. (the
“Company”) dated 20 March 2026.

The court applications demanding a court order for dissolution, the appointment
of a liquidator and consequential winding up under Court oversight in respect of
both the Company and its subsidiary, River Technologies Limited (the
“Subsidiary”) were filed before the Maltese Courts on 23 March 2026. The
applications were filed at the Court registry and will now have to be assigned
to the relevant court, being the Civil Court (Commercial Section). Once the
Court takes cognizance of the applications, a generic pre-trial decree will be
issued within a few days, appointing both applications for a hearing and
inviting both companies to submit any additional evidence that they may require.


With respect to the Subsidiary, one hearing is expected to be required,
following which the Court will adjourn for delivery of a winding-up order and
appointment of a liquidator.

Where the Company is concerned, evidentiary hearings will be required for the
production of evidence in support of the winding-up application. Once all
evidence and submissions are produced, the Court will adjourn for delivery of a
winding-up order and appointment of a liquidator within a few months.

The Court will be required to appoint a liquidator for both the Company and the
Subsidiary in its winding-up orders. Once appointed, the liquidator will take
over most of the powers of the directors (including the power to bring or defend
any action on behalf of the company; carrying on the business of the company as
necessary for the beneficial winding up thereof; and paying creditors according
to their ranking at law) and commence the dissolution process, involving the
realisation of the relevant company’s assets and the distribution of any
proceeds derived therefrom according to law.

The Court has been requested to appoint a provisional administrator for both the
Company and the Subsidiary. The role of the provisional administrator is to take
control of the relevant company until a final winding-up order is issued and a
liquidator is appointed.

Once both Company and Subsidiary are placed in liquidation, the liquidators will
proceed with the winding-up process under Court oversight.

Separately, the Company also advises that all group employees have been given
notice of redundancy, including the Chief Executive Officer and the Chief
Financial Officer.


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 23 March 2026 at 17:37 hours
CET.

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