Tavistock Investments PLC Further re Acquisition, Placing and Subscription (3388Q)
November 28 2016 - 10:36AM
UK Regulatory
TIDMTAVI
RNS Number : 3388Q
Tavistock Investments PLC
28 November 2016
28 November 2016
Tavistock Investments plc
("Tavistock" or the "Company")
Further re Acquisition, Placing and Subscription
Further to the announcements made on 23 November 2016, Tavistock
Investments plc ("Tavistock" or the "Company") announces that
admission of the 36,733,333 Placing Shares, 33,266,667 Subscription
Shares and 21,263,462 Consideration Shares to trading on AIM, which
had been expected to take place tomorrow, 29 November 2016, has
been delayed.
Following the allocation of shares pursuant to the Placing and
Subscription, the Company became aware that Andrew Staley and UFC
Fund Management plc, a company of which Mr Staley is a director and
in which he has a beneficial interest, would both be required to
submit applications to the Financial Conduct Authority ("FCA") as
their participation in the Company's fundraising would result in
their having a "controlling" position, being an interest in excess
of 10 per cent., in the issued share capital of Tavistock.
Such applications were submitted on 24 November 2016 but have
yet to be processed by the FCA and until such time as their consent
is given, the Placing Shares, Subscription Shares and Acquisition
Shares cannot be issued and thus the Placing, Subscription and
Acquisition cannot complete.
It is hoped that consent will be granted in the very near
future, but the FCA is currently unable to confirm when this might
be. A further announcement will be made when consent has been
granted and a new admission date determined.
For further information:
Tavistock Investments plc Tel: 01753 867000
Oliver Cooke, Executive Chairman
Brian Raven, Group Chief Executive
Northland Capital Partners Limited Tel: 020 3861 6625
William Vandyk
Gerry Beaney
Allenby Capital Limited Tel: 020 3328 5656
Nick Naylor
Nick Athanas
Templars Communications Limited Tel: 020 3642 3140
Kitty Parry
Alice Osborn
All defined terms in this announcement shall have the same
meaning as defined in the Company's announcements released at 7.00
a.m. and 3.37 p.m. on 23 November 2016 under RNS numbers 8852P and
9794P respectively unless otherwise defined herein
This information is provided by RNS
The company news service from the London Stock Exchange
END
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