Early Settlement Agreement

RNS Number : 4700U

Tavistock Investments PLC

24 October 2017

 

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: [phone]
Arden Partners Plc William Vandyk	Tel: [phone]
Allenby Capital Limited Nick Naylor Nick Athanas	Tel: [phone]
Templars Communications Limited Kitty Parry Malika Shermatova	Tel: [phone]

 

END

 

 

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