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 £500 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 Plc Oliver Cooke Brian Raven |
Tel: 01753 867000 |
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Northland Capital Partners Limited Tom Price Matthew Johnson |
Tel: 020 3861 6625 |
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Allenby Capital Limited Nick Naylor Nick Athanas |
Tel: 020 3328 5656 |
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Templars Communications Limited Kitty Parry |
Tel: 020 3642 3140 |
