Business
Conditional Property Sale, RPT & Proposed GM
Jarvis Securities plc has conditionally agreed to sell its leasehold property at The Brewery, Tunbridge Wells for £100,000 cash to Sion Properties Limited, a company connected to director Andrew Grant, which is considered a related party transaction. A deposit of £11,750 has been paid, and the sale, which is part of the Group's wind-down strategy and subject to shareholder approval at a general meeting, is expected to apply proceeds to general cash resources. The property's book value was £196,626 as of June 30, 2025, with no profits or losses attributable to it. Following the sale and other wind-down activities, Jarvis anticipates becoming an AIM Rule 15 Cash Shell and currently intends to seek cancellation of its AIM trading admission. Disclaimer*
About this update from Jarvis Securities Plc
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. Jarvis Securities plc ("Jarvis" or "the Company" and with its subsidiaries the "Group") Conditional Property Sale Related Party Transaction Proposed General Meeting Jarvis Securities plc, the holding company for Jarvis Investment Management Limited (JIML), announces today that it has conditionally agreed to dispose of its leasehold interest in the property it holds at The Brewery, Tunbridge Wells (the "Property") for a cash consideration of £100,000 (the "Potential Disposal"). The Potential Disposal was made under an auction agreement as part of auction process run by Clive Emson Land and Property Auctioneers. The purchaser through that auction process was Sion Properties Limited, a company connected to Andrew Grant, a director of the Company (the "Purchaser"). A £11,750 deposit has been paid by the Purchaser to the auctioneers as a deposit. The Property had been utilised historically by JIML as a disaster recovery site for IT operations but the Property had not been utilised for these purposes since March 2026. Condition: Shareholder Approval The Potential Disposal is part of the ongoing disposal and winddown strategy of the Group, which was announced on 15 April 2025 and 7 July 2025 and accordingly Rule 15 of the AIM Rules for Companies ("AIM Rule 15") applies. The Potential Disposal is therefore subject to the consent of shareholders being given in a general meeting. A circular containing the details of the Potential Disposal and convening a general meeting for shareholders will be dispatched shortly (the "Circular"). A further announcement will be made when the Circular is dispatched. If the Potential Disposal completes, the proceeds will be applied to the general cash resources of the Company. Strategy and AIM Rule 15 Cash Shell As previously announced, following the sale of the Company's retail execution only brokerage business by JIML, which comp...
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