Business
Issue of Shares to Strategic Investor
Issue of Shares to Strategic Investor.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \n \n RNS Number : 6999G\n Tavistock Investments PLC\n 19 March 2020\n \n \n \n \n \n \n \n Tavistock Investments Plc\n \n \n (\"Tavistock\" or the \"Company\")\n \n \n Issue of Shares to Strategic Investor\n \n \n \n \n \n 19 March 2020\n \n \n \n \n \n Tavistock is pleased to announce that it has today raised £650,000 of equity capital through the issue of 32,500,000 new ordinary shares of 1p each (the \"Placing Shares\") at an issue price of 2p per share (the \"Placing\").\n \n \n 30,000,000 Placing Shares, equivalent to 4.94% of the Company's issued share capital as enlarged by the Placing, have been issued to an experienced industry figure, Hugh Simon, and the Board is pleased to welcome him as a significant new investor in the Company.\n \n \n The balance of the Placing Shares have been issued to members of the management team, including 416,700 shares to Chairman, Oliver Cooke, and 416,650 to Chief Executive, Brian Raven. Following the Placing Oliver Cooke will be interested in 27,059,256 shares and Brian Raven in 65,522,362 shares, representing 4.45% and 10.78% of the Company's enlarged capital respectively.\n \n \n Hugh Simon is the Chief Executive, and ultimate owner, of the Hamon Investment Group (\"Hamon Group\"), an asset management group based in Hong Kong and London. Since being founded by Hugh in 1989, Hamon Group has grown into a multi-asset boutique manager.\n \n \n In the UK, Hamon Group owns GEM (global emerging market) equity fund manager, Blackfriars Asset Management, which it acquired from BNY Mellon in 2011. BNY Mellon had a strategic equity stake in the Hamon Group for 18 years until 2016 when Hugh bought back its stake.\n \n \n Hamon Group is licenced in Hong Kong, Korea, Ireland, and the UK. Blackfriars Asset Management is regulated by the Financial Conduct Authority.\n \n \n Hugh has spent his career in the fund management industry, with an established track record for developing businesses, both organically and through acquisition. Hugh's interest is to develop a meaningful stake in the UK Wealth Management sector and he has identified Tavistock as a cornerstone investment. \n \n \n Tavistock and Hamon Group are interested in identifying acquisition opportunities in the wealth and asset management sectors in the UK and Europe. Tavistock's Board believes th...