Placing of New Ordinary Shares

RNS Number : 4033F

Tavistock Investments PLC

20 February 2015

 

TAVISTOCK INVESTMENTS PLC

Placing of New Ordinary Shares

20^th February 2015

Tavistock Investments Plc ("Tavistock" or "The Company"), the integrated financial services group, announces that it has raised an additional £300,000 by way of a placing ("Placing") of 15,000,000 new ordinary shares of 1p each ("Placing Shares") at a price of 2 pence per share, being the same price at which the Company's recent placing and open offer were completed. 

Participants in the Placing include three of the Group's senior employees: Brian Raven, the Group's Chief Executive, Christopher Peel, the Chief Investment Officer, and Stephen Moseley, the Head of Business Development.

The proceeds of the Placing will be utilised for general working capital purposes and the Board confirms that the Company has no current need or intention to raise additional capital.

Application will be made for the Placing Shares to be admitted to trading on AIM with effect from 26 February 2015 ("Admission").  Following Admission, Tavistock's total issued and voting share capital will comprise 289,615,305 ordinary shares of 1p each. This figure may be used by shareholders 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, securities of the Company.

As a result of their participation in the Placing, Tavistock is aware of certain interests in the Company that will change following Admission:

Stephen Moseley will be interested in 32,422,244 ordinary shares representing 11.2 per cent. of the then issued ordinary share capital and voting rights of the Company; and

Brian Raven will be interested in 14,993,756 ordinary shares representing 5.2 per cent. of the then issued ordinary share capital and voting rights of the Company.

For further information:

Tavistock Investments plc Oliver Cooke, Executive Chairman Brian Raven, Group Chief Executive	Tel: [phone]
Northland Capital Partners Limited William Vandyk Matthew Johnson	Tel: [phone]
WH Ireland Limited Tim Feather Mark Leonard	Tel: [phone] Tel: [phone]
Templars Communications Ltd Kitty Parry James Kimber	Tel: [phone]

 

END

 

 

IOETLMFTMBTBBLA