Business
Results of Placing and Subscription
Results of Placing and Subscription.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \nRNS Number : 9794P Tavistock Investments PLC 23 November 2016 \n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n \n23 November 2016\n \nTavistock Investments plc \n(\"Tavistock\" or the \"Company\")\n \nResults of placing and subscription\n \nPlacing and subscription to raise £2.1 million\n \nFurther to the announcement made earlier today, Tavistock Investments plc (\"Tavistock\" or the \"Company\") is pleased to announce a placing (the \"Placing\") and subscription (the \"Subscription\") (together the \"Placing and Subscription\") of a total of 70,000,000 new ordinary shares to raise a total of £2.1 million (before expenses). All new ordinary shares are to be issued at a price of 3 pence per new ordinary share (the \"Placing and Subscription Price\"). The Placing and Subscription is being undertaken within the Company's existing share authorities.\n \nThe Placing and Subscription is being undertaken in order to satisfy the cash consideration for the acquisition of the entire share capital of Price Bailey Financial Services Limited (\"PBFS\") (the \"Acquisition\"). Further details on the Acquisition were announced by the Company earlier today. \n \nCompletion of the Acquisition and the Placing and Subscription remain subject to the Company receiving change of control consent from the Financial Conduct Authority.\n \nA total of 36,733,333 new ordinary shares are to be issued in the Placing (the \"Placing Shares\"). A total of 33,266,667 new ordinary shares are to be issued in the Subscription (the \"Subscription Shares\"). The Placing Shares and Subscription Shares will together represent 14.4 per cent. of the enlarged issued share capital of the Company.\n \nThe Company also announces that the following Directors and significant shareholders of the Company (as defined in the AIM Rules for Companies) have participated in the Placing or Subscription. Following Admission the respective beneficial holdings of the Directors and those significant shareholders will be, insofar as the C...