Transaction in Own Shares and Total Voting Rights
Updated : 12:49
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, which has been authorised for release by Oliver Cooke, Chairman, this information is now considered to be in the public domain.
Tavistock Investments Plc
("Tavistock" or the "Company")
Transaction in Own Shares
and
Total Voting Rights
9 December 2024
Tavistock announces that, in accordance with the authority granted by shareholders at a General Meeting of the Company held on 30 October 2024, it has agreed to purchase an aggregate total of 110,729,187 of its own ordinary shares of 1 penny each (the "Ordinary Shares"), representing 19.76% of the Ordinary Shares in issue (the "Buyback Shares"), at prices between 4.43 pence and 5.09 pence per Buyback Share.
The Company has agreed to acquire 42,737,805 of the Buyback Shares at prices between 4.43 pence and 5.04 pence per Buyback Share, from shareholders seeking to reduce their holding in the Company. It has agreed to acquire the remaining 67,991,382 Buyback Shares, at prices between 5.04 and 5.09 pence per share, from employees and advisers who have left the Company following the recent disposal of the Group's network of Registered Individuals to The Saltus Partnership LLP.
The Buyback Shares will initially be placed into treasury and may subsequently be placed into a trust for the benefit of the Company's employees or cancelled. Shares placed into trust would be used to satisfy the exercise of share options without causing dilution to the Company's other shareholders.
Following the purchase of the Buyback Shares, the total number of Ordinary Shares in issue at today's date is 560,429,005 and following this transaction, the total number of Ordinary Shares held as treasury shares by the Company is 110,729,187. Therefore, the total number of voting rights in the Company is 449,699,818 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
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