Business
Result of £1.25m Fundraise
Result of £1.25m Fundraise.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \nRNS Number : 3011H Tavistock Investments PLC 14 November 2018 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 (\"MAR\"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \nTavistock Investments Plc\n(\"Tavistock\" or the \"Company\")\nRaising of £1.25 million of additional equity capital\n \n14 November 2018\n \nTavistock Investments plc (AIM:TAVI) is pleased to announce the successful completion of the proposed fundraising announced earlier today. As a consequence, the Company has raised £1.25 million of additional working capital, before costs, through the issue of 38,109,756 new ordinary shares of 1p each at a subscription price of 3.28 pence per share.\n \nThe largest participant in the fundraising was Lighthouse Group plc which has agreed to subscribe £1 million to acquire 30,487,805 shares, representing a 5.30% holding in the enlarged share capital of the Company.\n \nThe remainder of the new shares will be subscribed for by existing shareholders in, and management of, the Company.\n \nAn application has been submitted for the new shares to be admitted to trading on AIM and it is anticipated that trading of the new shares will commence at 8.00am on Monday, 19 November 2018 (\"Admission\").\n \nTotal Voting Rights:\nFollowing Admission, the Company's issued share capital will comprise 575,295,801 ordinary shares with each share carrying the right to one vote. No shares are held in treasury. The figure of 575,295,801 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.\n \nUse of funds:\nAs referred to by the Company in its earlier announcement today, the fundraising will enable the Company to replace an existing, ...