Last checked at 23 Jun 2022 14:04
Tavistock Investments Plc
("Tavistock" or the "Company")
Exercise of Options and Total Voting Rights
23 June 2022
Tavistock announces that it has received notice of exercise in relation to share options over 700,000 ordinary shares of 1 penny each in the Company ("Ordinary Shares"). The options have been exercised at a price of 2.5 pence per Ordinary Share.
Application has been made to the London Stock Exchange for the 700,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on, or around, 29 June 2022.
Total voting rights
Upon Admission, the issued share capital of the Company will consist of 558,377,576 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of Ordinary Shares and voting rights in the Company will, following Admission, be 558,377,576. From Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information:
Tavistock Investments Plc Oliver Cooke Brian Raven
| Tel: 01753 867000 |
Allenby Capital Limited (Nominated adviser and broker) Corporate Finance: Nick Naylor, Liz Kirchner, Freddie Wooding Sales and Corporate Broking: Tony Quirke
| Tel: 020 3328 5656 |
Powerscourt Gilly Lock Chloe Retief
| Tel: 07711 380 007 020 7250 1446 |
About Tavistock Investments Plc
Tavistock Investments Plc is an AIM listed financial services group that has 180 advisers across the UK helping 30,000+ clients look after more than £4 billon of investments. The Company was established in 2013.
Tavistock's advisory business operates throughout the UK. The Tavistock Partners network supports 140 Registered Individuals (IFAs), providing compliance, administration, technology, training and accounting services. The Tavistock Partnership is a network that does the same for 20 Appointed Representative firms. Tavistock Private Client provides wealth management and financial planning to high-net-worth individuals.
The Tavistock Platform, launched in 2020, provides a low-cost platform service to the Group's advisory and investment clients.
On 14 June 2021, the Company announced its entry into a ten-year strategic partnership with Titan Wealth Holdings Limited ("Titan"). Tavistock now acts as Titan's retail distribution partner and Titan acquired Tavistock Wealth Limited ("TWL"), Tavistock's multi-asset manager with over £1 billion of FUM, for a consideration of up to £40 million in cash, together with a ten-year earn out. Whilst becoming part of Titan, John Leiper, formerly Tavistock's Chief Investment Officer, and his investment team continue to work closely with Tavistock and its advisers.
A new company, Tavistock Asset Management ("TAM"), continues to market the Group's centralised investment proposition, both the ACUMEN UCITS funds and the Group's Model Portfolio Service ("MPS"). TAM retains Titan as investment manager for the MPS.
The strategic partnership will enable Tavistock to accelerate the growth of its wealth management business both organically and through an acquisition programme.