Trendlines Group has released an update on its business activities amidst the security situation in the north of Israel.
According to a Sept 30 release, the group says they are “working as usual” despite the escalation of the security situation in Israel’s north last week.
The group adds that some of its portfolio company employees who live in the far north have since relocated, with one portfolio company taking a space in Trendline’s offices.
The group says: “We are equipped to help any other of our portfolio companies in similar situations.”
Currently, both Trendlines and its portfolio companies are closely monitoring the evaluations and instructions from Israel’s Home Front Command in regards to the security situation.
The group adds that it is “well-positioned and prepared to work remotely” if needed, and its portfolio companies are “well-trained to make contingency plans to keep running” despite the situation.
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Following the developing situation in Israel’s north, the group says some of the portfolio company’s CEOs may be called up for reserve duty, reads the release. However, the group is set to evaluate the impact in each incident and is expected to put plans in place to assist so as to minimise impact.
Additionally, the group adds that flight cancellations, disruptions and higher-priced tickets may interfere with planned trips abroad to participate in conferences or investor meetings.
Further updates are expected to follow subject to material developments.
Shares in Trendlines Group 42T closed 0.2 cents lower, or down 3.39%, at 5.7 cents on Sept 30.
