Rescheduling of General Meeting

RNS Number : 8699R

Tavistock Investments PLC

11 March 2021

 

Tavistock Investments Plc

("Tavistock" or the "Company")

Rescheduling of General Meeting

11 March 2021

On 1^st March 2021, Tavistock announced that it had convened a General Meeting of the Company's Shareholders (the "GM"), to be held at 11.30 am on Thursday, 25^th March 2021, to consider the introduction of a new growth share incentive arrangement for the Company's leadership team (the "Amended Proposal").

The most recent report received from the Company's registrar, dated today, indicates that a great many shares have been voted in favour of the resolution being proposed at the GM, with none so far voting against. Furthermore, no Shareholder has contacted the Company using the dedicated email address at [e-mail] to express any queries or concerns that they might have regarding the Amended Proposal.

However, the Board has been made aware of some concern over the possibility that A Ordinary Shareholders could receive benefit under the Amended Proposal at a lower share price than they could have under previous share option arrangements, which had exercise prices of 5.25p, 6p and 6.5p.

In order to provide additional reassurance to Shareholders and to remove this as a possibility the Board has decided to modify the Amended Proposal so that no benefit can be achieved by A Ordinary Shareholders, in any circumstances, at a share price of less than 7p.

To achieve this, the GM resolution needs to be replaced and the meeting rescheduled.

To this end, the GM will now take place at 11.30 am on Wednesday, 7^th April 2021. Formal Notice of the rescheduled GM, together with an explanatory letter, will be sent to Shareholders on or before Friday, 12^th March 2021. Copies of these documents will also be made available on the Company's website https://tavistockinvestments.com .

Ends

Enquiries

Tavistock Investments Plc Oliver Cooke Brian Raven	Tel: [phone]
Allenby Capital Limited (Nominated adviser and broker) Corporate Finance: Nick Naylor, Nick Athanas, Liz Kirchner Sales and Corporate Broking: Tony Quirke	Tel: [phone]
Powerscourt Gilly Lock Chloe Retief	Tel: [phone]   020 7250 1446

 

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