Result of General Meeting

RNS Number : 0281C

Tavistock Investments PLC

16 January 2018

 

Tavistock Investments plc

Shareholder Support for

Proposed Reduction of Share Premium Account

16 January 2018

Tavistock Investments plc ("Company") announces that shareholders gave overwhelming support to the resolution passed at today's general meeting that the Share Premium Account of the Company be reduced by £23 million.

The purpose of the reduction ("Capital Reduction") is to eliminate the historic deficit on the Company's profit and loss account and to create distributable reserves. This will enable the Company to pay a dividend to shareholders, should the Board decide to do so.

The Capital Reduction requires the approval of the Court, as well as shareholders. Accordingly, an application to the Court will now be made to confirm and approve the Capital Reduction, which it is anticipated will become effective in February 2018.

One of the Company's stated objectives is to introduce and manage, a dividend stream for the benefit of shareholders. It should be noted however, that the Capital Reduction itself does not guarantee the payment of a dividend.

Enquiries:

Tavistock Investments Plc Oliver Cooke, Brian Raven	Tel: [phone]
Arden Partners Plc Paul Shackleton	Tel: [phone]
Allenby Capital Limited Nick Naylor, Nick Athanas	Tel: [phone]
Vested Kitty Parry, Elspeth Rothwell	Tel: [phone]

 

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