REG - Jarvis Securities - Dividend Declaration and Company Update

Jarvis SecuritiesAnnouncement

Thu 16:30

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RNS Number : 4735T  Jarvis Securities plc  31 July 2025

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.

31 July 2025

Jarvis Securities plc

("Jarvis" or "the Company" and with its subsidiaries the "Group")

 DIVIDEND DECLARATION AND COMPANY UPDATE

The Board of Jarvis announces that it is declaring a special dividend of 2.9
pence per share, to be paid on 3 September 2025 to shareholders on the
register on 8 August 2025 and the shares will become ex-dividend on 7 August
2025. Due to the current position of the company, as described further below,
a dividend re-investment plan is no longer being made available.

Company Update

Further to the announcement of 7 July 2025, the Company confirms that
following the sale of its retail execution only brokerage by the Company's
wholly owned subsidiary Jarvis Investment Management Limited ("JIML"), the
Group continues the process of terminating the Model B clearing and settlement
services businesses within JIML and winding its other operations down.  JIML
also continues to progress with the remediation work recommended by the
Skilled Person following their reviews. In line with JIML's regulatory
obligations, the remediation when completed must be reviewed by the Skilled
Person ahead of any final wind down. JIML's wind down plan is presently
targeting a July 2026 completion. Further updates will be provided as
appropriate.

Outlook

As previously announced, now that the Transaction has completed and once the
Model B Arrangements are terminated and other operations wound down, Jarvis
would 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 VREQ, 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.

 

Kieran Price, Finance Director of Jarvis Securities Plc, has approved this
announcement and authorised its release.

 

Enquiries:

Jarvis Securities plc - enquiries@jarvissecurities.co.uk

Andrew Grant

 Zeus Capital 020 3829 5000

 Katy Mitchell / Darshan Patel / Gabriella Zwarts

 

Notes:

Jarvis Securities plc is the holding company for Jarvis Investment Management
Limited (AIM: JIM.L) a stock broking company and outsourced service provider
for bespoke tailored financial administration. Jarvis was established in 1984
and is a member of the London Stock Exchange; a broker dealer member of Aquis
Stock Exchange, authorised and regulated by the Financial Conduct Authority
and an HM Revenue & Customs approved ISA manager.

 

 

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