24 Oct 2017 11:33
Early Settlement Agreement
24 October 2017
Further to the announcement of 21 March 2016, the Company is pleased to announce that it has agreed early settlement of the performance related deferred consideration payable on the acquisition of Abacus Associates Financial Services Limited ("Abacus"). The Company has agreed, in full settlement, to pay a total of £1.4 million in cash to the vendors of Abacus, representing a significant discount to the anticipated payment the Company may otherwise have been required to make in July 2018. As a part of the agreement, the obligation to make a cash adjustment payment if the Company's share price does not reach 7.5 pence by July 2018 has lapsed.
ENDS
Enquiries:
Tavistock Investments Plc Oliver Cooke Brian Raven | Tel: 01753 867000
|
|
|
Arden Partners Plc William Vandyk | Tel: 020 7614 5900 |
|
|
Allenby Capital Limited Nick Naylor Nick Athanas | Tel: 020 3328 5656 |
|
|
Templars Communications Limited Kitty Parry Malika Shermatova | Tel: 020 3642 3140
|
Tavistock (TAVI)