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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tavistock Investments Plc | LSE:TAVI | London | Ordinary Share | GB00BLNMLS43 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.15 | -3.33% | 4.35 | 4.00 | 4.70 | 4.35 | 4.35 | 4.35 | 110,598 | 08:00:21 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 33.95M | -1.4M | -0.0025 | -17.40 | 24.38M |
TIDMTAVI
RNS Number : 1613I
Tavistock Investments PLC
25 August 2016
Tavistock Investments Plc
Issue of Equity
25 August 2016
Tavistock Investments Plc ("Tavistock" or the "Company") the integrated financial services business, announces that Oliver Cooke, Chairman, and Brian Raven, Chief Executive, have today exercised their options to subscribe for G Ordinary Shares in the Company. Mr Cooke and Mr Raven each held options to subscribe for 50,000 G Ordinary Shares at a price of 1 penny per share which were granted to them under the Company's EMI Share Option Scheme as a performance incentive and the exercise of which was subject to the achievement of certain milestones, all of which been met.
The G Ordinary Shares, as a class, can be converted at any time between 1 August 2016 and 31 July 2018 at the request of the holders into such number of new ordinary shares of 1p each in the Company ("Ordinary Shares") as represents 10 per cent. of the fully diluted share capital of Tavistock as at 31 July 2016 as enlarged by such conversion. Mr Cooke and Mr Raven have notified the Company of their intention to convert, which is irrevocable. Upon conversion, each of Mr Cooke and Mr Raven will receive 22,927,017 Ordinary Shares and application will be made in due course for the aggregate 45,854,034 Ordinary Shares to be admitted to trading on AIM.
The interests of Mr Cooke and Mr Raven in the share capital of the Company before and after conversion of the G Ordinary Shares is set out below, assuming no other issues of equity:
As at the date of this announcement -------- ------------------------------------------------ Ordinary % Options G Ordinary Shares to subscribe Shares for Ordinary Shares -------- ----------- ------ -------------- ----------- Oliver Cooke 2,128,206 0.54% 1,600,000 50,000 -------- ----------- ------ -------------- ----------- Brian Raven 38,542,362 9.74% 1,600,000 50,000 -------- ----------- ------ -------------- ----------- Following conversion of G Ordinary Shares into Ordinary Shares -------- -------------------------------------------- Ordinary Shares % Options to subscribe for Ordinary Shares -------- ---------------- ------- ----------------- Oliver Cooke 25,055,223 5.67% 1,600,000 -------- ---------------- ------- ----------------- Brian Raven 61,469,379 13.92% 1,600,000 -------- ---------------- ------- -----------------
A further announcement regarding the issue of the Ordinary Shares arising upon the conversion of the G Ordinary Shares will be made in due course.
For further information:
Tavistock Investments plc Tel: 01753 867000
Oliver Cooke, Executive Chairman
Brian Raven, Group Chief Executive
Northland Capital Partners Limited Tel: 020 3861 6625
William Vandyk
Matthew Johnson
WH Ireland Limited Tel: 0113 394 6600
Tim Feather
Liam Gribben
Templars Communications Limited Tel: 020 3642 3140
Kitty Parry
Kate Boothman Meier
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEFELFLQVFEBBD
(END) Dow Jones Newswires
August 25, 2016 09:00 ET (13:00 GMT)
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