REG - Tavistock Investment - Early Settlement Agreement <Origin Href="QuoteRef">TAVI.L</Origin>

Tavistock InvestmentsAnnouncement

24/10/2017 11:35

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 1.4 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 Plc
Oliver Cooke
Brian Raven
Tel: 01753 867000
Arden Partners Plc
William Vandyk
Tel: 020 7614 5900
Allenby Capital Limited
Nick Naylor
Nick Athanas
Tel: 020 3328 5656
Templars Communications Limited
Kitty Parry
Malika Shermatova
Tel: 020 3642 3140

This information is provided by RNS
The company news service from the London Stock Exchange
  END
AGRBGBDGIDDBGRS