REG - Jarvis Securities - Conditional Property Sale, RPT & Proposed GM

Jarvis SecuritiesAnnouncement

08/05/2026 12:00

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RNS Number : 6413D  Jarvis Securities plc  08 May 2026

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 completed on 7 July 2025, the directors
of the Company remain committed to completing an effective and efficient wind
down of the Group over the coming months,  including, where possible,
securing the disposal of any residual assets left in the Group (see
announcement dated 5 May 2026), although there can be no guarantee that this
will occur.

 

In addition, as also previously announced, once all the Model B clearing and
settlement service contracts are terminated and other operations are wound
down, Jarvis will then no longer own, control, or conduct any trading
business. Accordingly, pursuant to AIM Rule 15 Jarvis would, at that time,
become an AIM Rule 15 Cash Shell and would be required to make an acquisition
or acquisitions that constitutes a reverse takeover under AIM Rule 14, within
6 months of becoming an AIM Rule 15 Cash Shell. It is currently anticipated
Jarvis will become an AIM Rule 15 Cash Shell on the date that all, or
substantially all, of JIML's client agreements or assets are transferred to a
third party.

 

At this time, the Directors do not intend to make any acquisitions. Whilst
they continue to keep their strategic options for the remaining assets of the
Group under review, the Directors currently intend to seek a cancellation of
the Company's admission to trading on AIM pursuant to AIM Rule 41
(the "Proposed Cancellation") in due course, with the expectation that,
following the lifting of the Voluntary Agreed restrictions agreed with the FCA
(see announcement dated 16 September 2022), any distributable reserves
remaining in the Company at the time of the Proposed Cancellation would then
be returned to shareholders. The Proposed Cancellation would be
subject, inter alia, to shareholder approval. Further announcements will be
made in due course.

 

Related Party Transaction

As Sion Properties Limited is a company connected to Andrew Grant, a director
of the Company, the Potential Disposal is also considered to be related party
transaction pursuant to AIM Rule 13. The directors independent of the
Potential Disposal, being Paul Shackleton and Steve Middleton consider having
consulted with the Company's Nominated Adviser, Zeus Capital Limited, that the
terms of the Potential Disposal are fair and reasonable insofar as the
Company's shareholders are concerned.

 

Additional Information

The book value for the Property recorded in the Group's audited accounts for
the 18 months ended 30 June 2025 was £196,626; no profits (or losses) are
attributable to the Property.

 

Enquires:

 

 Jarvis Securities plc  01892 510 515
 Andrew Grant

 Zeus Capital           020 3829 5000
 Katy Mitchell

 

 

 

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