Tavistock Investments PLC Senior Appointment, Option Grant and Subscription (0428D)
April 24 2017 - 1:00AM
UK Regulatory
TIDMTAVI
RNS Number : 0428D
Tavistock Investments PLC
24 April 2017
Tavistock Investments Plc
Senior appointment / share options / share subscription
Tavistock Investments Plc (the "Company"), the financial
services group, is pleased to announce the appointment of Peter
Horbye to head up international operations for Tavistock Wealth,
the Company's investment management business.
Between May 2007 and May 2011 Peter served as Chief Executive
Officer of Heritage Capital Limited, a wholly owned subsidiary of
Banque Heritage, Geneva, Switzerland.
As an incentive for the rapid development of the business Peter
has been granted an option under the terms of the Company's EMI
Share Option Scheme over 3,000,000 shares of 1p each in the capital
of the Company with an exercise price of 2.8p per share. Vesting of
the option is linked to the achievement of a challenging
performance target, being the introduction by him of GBP500 million
of assets into the Group's investment management operations before
18 April 2019.
Subject to the achievement of the performance target, the option
can be exercised at any time before 18 April 2027. If the option
has not vested by 18 April 2019, or having vested has not been
exercised by 18 April 2027, it will automatically lapse and no
longer be capable of exercise.
Peter is an existing shareholder in the Company and is
subscribing for a further 3,571,429 new ordinary shares of 1p each
in the capital of the Company at a price of 2.8p per share, taking
his aggregate holding to 6,904,762 shares, representing 1.29% of
the enlarged issued share capital of the Company. An application
has been made for the new shares to be admitted to trading on AIM
which is expected to occur on 27 April 2017 ("Admission").
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 537,186,045 ordinary shares with each share carrying the
right to one vote. The figure of 537,186,045 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 and
Transparency Rules.
Enquiries:
Tavistock Investments Tel: 01753 867000
Plc
Oliver Cooke
Brian Raven
Northland Capital Partners Tel: 020 3861 6625
Limited
Tom Price
Matthew Johnson
Allenby Capital Limited Tel: 020 3328 5656
Nick Naylor
Nick Athanas
Templars Communications Tel: 020 3642 3140
Limited
Kitty Parry
This information is provided by RNS
The company news service from the London Stock Exchange
END
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