Tavistock Investments PLC AGM Statement, no tax charge & NAV/share increase (2576O)
07 Octubre 2021 - 1:00AM
UK Regulatory
TIDMTAVI
RNS Number : 2576O
Tavistock Investments PLC
07 October 2021
Tavistock Investments Plc
("Tavistock" or the "Company")
AGM statement
Confirmation of no tax charge on disposal of Tavistock
Wealth
Increase in Net Asset Value per share
7 October 2021
Tavistock's Annual General Meeting is scheduled to take place at
11.00am today at the Company's offices at 1 Queen's Square, Ascot
Business Park, Lyndhurst Road, Ascot, Berkshire SL5 9FE.
At the meeting, the Company's Chairman, Oliver Cooke, will
advise shareholders that the Company has now received confirmation
that the recent disposal of Tavistock Wealth Limited to Titan
Wealth Holdings Limited (the "Transaction"), completion of which
was announced on 31 August 2021, qualifies for Substantial
Shareholding Exemption ("SSE"). As a consequence, no tax charge
will be incurred on receipt of the consideration of up to GBP40
million in cash. In the absence of the SSE, the Transaction might
have given rise to a tax charge of approximately GBP7 million.
The Chairman will also advise that the Company's unaudited
management accounts indicate that the Company's net asset value per
share has risen from 2.59p at 31 March 2021 to 8.5p at 31 August
2021. This is as a consequence of both the completion of the
Transaction and the recent buy-back and cancellation of 4.75% of
the Company's issued shares.
For further information:
Tavistock Investments Plc Tel: 01753 867000
Oliver Cooke
Brian Raven
Allenby Capital Limited (Nominated adviser Tel: 020 3328
and broker) 5656
Nick Naylor/ Nick Athanas/Liz Kirchner (Corporate
Finance)
Tony Quirke (Sales)
Powerscourt (Public relations) Tel: 07711 380
007
Gilly Lock 020 7250 1446
Chloe Retief
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END
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