Update
Summary by AI BETAClose X
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Jarvis Securities plc
("Jarvis" or the "Company" and with its subsidiaries the "Group")
Update
On 7 July 2025 Jarvis announced (the "Announcement") that its wholly owned subsidiary Jarvis Investment Management Limited ("JIML") has sold its retail execution only brokerage business, for a total consideration of up to £11m to Interactive Investor Services Limited (the "Transaction"). The £9m initial consideration was paid to JIML straight away with the remaining £2 million of the consideration deferred for up to c.18 months and subject to potential adjustment for claims under the sale agreement ("Deferred Consideration"),
The Company is pleased to announce that JIML has now received the first Deferred Consideration payment of £1m plus accrued interest, for a total payment of c.£1,029,000. The second and final Deferred Consideration payment, also of £1m (subject to potential adjustment for claims under the sale agreement) is due on or around 7 January 2027.
At this stage it is intended that JIML will retain these funds during the wind down process after which any surplus will be available for the benefit of the Company, if JIML has not been sold pursuant to the potential sale process announced on 5 May 2026. At this stage there can be no certainty as to the timing of any sale of JIML or that it will occur at all. Full details of the proposed disposal are set out in the Company's announcement of 5 May 2026.
Further updates will be provided in due course.
Steve Middleton, Non-executive Director of Jarvis Securities Plc, has approved this announcement and authorised its release.
Enquiries:
Jarvis Securities plc
01892 510 515
Andrew Grant
Zeus Capital (Nominated Adviser)
020 3829 5000
Katy Mitchell / Liv Highton)
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 8 hours ago Johnson Matthey
- 9 hours ago Galliford Try
- 10 hours ago Galliford Try
- 10 hours ago Centrica
- 10 hours ago Smith & Nephew