Tavistock Investments PLC Early Settlement Agreement (4700U)
October 24 2017 - 5:33AM
UK Regulatory
TIDMTAVI
RNS Number : 4700U
Tavistock Investments PLC
24 October 2017
Early Settlement Agreement
24 October 2017
Further to the announcement of 21 March 2016, the Company is
pleased to announce that it has agreed early settlement of the
performance related deferred consideration payable on the
acquisition of Abacus Associates Financial Services Limited
("Abacus"). The Company has agreed, in full settlement, to pay a
total of GBP1.4 million in cash to the vendors of Abacus,
representing a significant discount to the anticipated payment the
Company may otherwise have been required to make in July 2018. As a
part of the agreement, the obligation to make a cash adjustment
payment if the Company's share price does not reach 7.5 pence by
July 2018 has lapsed.
ENDS
Enquiries:
Tavistock Investments Tel: 01753 867000
Plc
Oliver Cooke
Brian Raven
Arden Partners Plc Tel: 020 7614 5900
William Vandyk
Allenby Capital Limited Tel: 020 3328 5656
Nick Naylor
Nick Athanas
Templars Communications Tel: 020 3642 3140
Limited
Kitty Parry
Malika Shermatova
This information is provided by RNS
The company news service from the London Stock Exchange
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