Issue of Options

RNS Number : 3768C

Tavistock Investments PLC

13 April 2017

Tavistock Investments Plc

Issue of Performance Related Share Options

Tavistock Investments Plc ("Tavistock" or the "Company"), the financial services Group, announces that it has today issued an aggregate total of 48,500,000 performance related share options, equivalent in number to 9.09% of the shares currently in issue, to the executive directors and to other key members of the Group's management team

The exercise price of the options is 5.25p per share, which represents a premium of 86.2% over the Company's current share price of 2.82p per share. The vesting of these options is linked to the achievement of challenging and significant performance targets, in certain cases being the achievement by the Group of £5 million of pre-tax profit in a single year and in other cases being the growth of the funds managed by the Group to £1.5 billion. The options are capable of being exercised at any time within a ten-year period from the date of grant, subject to the achievement of the performance targets. Options not exercised by the end of the period will automatically lapse and will no longer be capable of exercise thereafter.

Following the issue of these options, the interests of Oliver Cooke and Brian Raven in the capital of the Company can be summarised as follows.

Name	Ordinary Shares of 1p each	% of issued Share Capital	Number of Option Shares	Exercise Price	Performance Condition
Oliver Cooke	26,188,556	4.91%	1,600,000*	5.25p	Continued employment
			5,000,000	5.25p	£5m of pre-tax profit in a single year
			5,000,000	5.25p	£1.5b of FUM
Brian Raven	62,319,379	11.68%	1,600,000*	5.25p	Continued employment
			5,000,000	5.25p	£5m of pre-tax profit in a single year
			5,000,000	5.25p	£1.5b of FUM