Tavistock Investments PLC Update on Titan Dispute

RNS Number : 9264E

Tavistock Investments PLC

19 September 2024

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

 

Tavistock Investments Plc

("Tavistock" or the "Company")

 

Update on Titan Dispute

 

19 September 2024

 

Further to the announcements released by the Company on 8 July 2024 and 11 July 2024, Tavistock today announces that it has received notification that Titan Wealth Holdings Limited ("Titan") has issued a claim against the Company in the High Court.

 

Tavistock is confident that the claim has no merit and considers it to be a vexatious and retaliatory step following Tavistock's termination of its 10-year strategic partnership with Titan, as announced on 8 July 2024. That termination was as a result of several breaches of contract and sustained unacceptable fund performance (as further detailed in Tavistock's 'Follow up to Titan termination announcement' issued on 11 July 2024 - performance table repeated below).

 

Tavistock believes that this claim by Titan is an opportunistic and spurious attempt to frustrate the Company's genuine claim for damages which is currently being progressed by the Company's legal representatives.

 

Tavistock's Chief Executive, Brian Raven, commented:

 

"Titan's claim is notable for its lack of evidence and much of what it alleges is factually inaccurate. It will be refuted, and our damages claim pursued in due course."

 

	Performance post Titan's breaches of contract (27th Aug 2022 - 4th Jan 2024)
	Performance vs Benchmark	Quartile Rank	Fund Rank	Percentile Rank
ACUMEN Portfolio 4	-7.89%	4th	176/177	100th
ACUMEN Portfolio 5	-8.27%	4th	177/177	100th
ACUMEN Portfolio 6	-9.72%	4th	212/215	99th
ACUMEN Portfolio 7	-11.19%	4th	214/215	100th
ACUMEN Portfolio 8	-13.51%	4th	157/159	99th
Average	-10.12%	4th		100th

     

      Source of data: FE Analytics

 

For further information:

 

	Tavistock Investments Plc Oliver Cooke Brian Raven	Tel: [phone]
	Allenby Capital Limited (Nominated adviser and broker) Corporate Finance: Nick Naylor, Liz Kirchner, Daniel Dearden-Williams Sales and Corporate Broking: Tony Quirke	Tel: [phone]
	Infinite Global (PR adviser) Ryan McSharry Matthew Gilleard	Tel: [phone]        07860 534 141

 

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