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Tavistock Investment (TAVI)

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Monday 09 August, 2021

Tavistock Investment

Update re disposal of Tavistock Wealth

RNS Number : 0549I
Tavistock Investments PLC
09 August 2021
 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. 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 re disposal of Tavistock Wealth

 

9 August 2021

 

The Company announced on 14 June 2021 that it had entered into a 10-year strategic partnership with Titan Wealth Holdings Limited ("Titan"). As a part of these arrangements Titan has agreed to acquire Tavistock Wealth Limited ("TWL") for a consideration of up to £40 million in cash, together with a ten-year earn out.

 

Tavistock's shareholders gave their approval for the transaction on 23 July 2021.

 

Tavistock is pleased to confirm that Titan has now received change in control approval from the Financial Control Authority in relation to its acquisition of TWL.

 

It is currently anticipated that formal completion of the transaction will take place at, or around, the end of August 2021.

 

A further announcement will be made once completion has taken place.  

 

 

 

 

For further information:

 

Tavistock Investments Plc

Oliver Cooke

Brian Raven

Tel: 01753 867000

 



Allenby Capital Limited (Nominated adviser and broker)

Nick Naylor/Nick Athanas/Liz Kirchner (Corporate Finance)

Tony Quirke (Sales)

 

Tel: 020 3328 5656

Powerscourt (PR adviser to Tavistock)

Gilly Lock

Chloe Retief

Tel: 07711 380 007

020 7250 1446



 

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