REG - Tavistock Investment - Result of General Meeting <Origin Href="QuoteRef">TAVI.L</Origin>

Tavistock InvestmentsAnnouncement

16/01/2018 12:20

RNS Number : 0281C
Tavistock Investments PLC
16 January 2018
Tavistock Investments plc
Shareholder Support for
Proposed Reduction of Share Premium Account
16 January 2018
Tavistock Investments plc ("Company") announces that shareholders gave overwhelming support to the resolution passed at today's general meeting that the Share Premium Account of the Company be reduced by 23 million.
The purpose of the reduction ("Capital Reduction") is to eliminate the historic deficit on the Company's profit and loss account and to create distributable reserves. This will enable the Company to pay a dividend to shareholders, should the Board decide to do so.
The Capital Reduction requires the approval of the Court, as well as shareholders. Accordingly, an application to the Court will now be made to confirm and approve the Capital Reduction, which it is anticipated will become effective in February 2018. 
One of the Company's stated objectives is to introduce and manage, a dividend stream for the benefit of shareholders. It should be noted however, that the Capital Reduction itself does not guarantee the payment of a dividend.
Enquiries:
Tavistock Investments Plc
Oliver Cooke, Brian Raven 
Tel: 01753 867000


Arden Partners Plc
Paul Shackleton
Tel: 020 7614 5900


Allenby Capital Limited
Nick Naylor, Nick Athanas
Tel: 020 3328 5656


Vested
Kitty Parry, Elspeth Rothwell
Tel: 020 3890 8118

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