REG - Tavistock Investment - Update on Titan Dispute

Tavistock InvestmentsAnnouncement

19/09/2024 15:00

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RNS Number : 9264E  Tavistock Investments PLC  19 September 2024

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.
With the publication of this announcement, this information is now considered
to be in the public domain.

 

Tavistock Investments Plc

("Tavistock" or the "Company")

 

Update on Titan Dispute

 

19 September 2024

 

Further to the announcements released by the Company on 8 July 2024 and 11
July 2024, Tavistock today announces that it has received notification that
Titan Wealth Holdings Limited ("Titan") has issued a claim against the Company
in the High Court.

 

Tavistock is confident that the claim has no merit and considers it to be a
vexatious and retaliatory step following Tavistock's termination of its
10-year strategic partnership with Titan, as announced on 8 July 2024. That
termination was as a result of several breaches of contract and sustained
unacceptable fund performance (as further detailed in Tavistock's 'Follow up
to Titan termination announcement' issued on 11 July 2024 - performance table
repeated below).

 

Tavistock believes that this claim by Titan is an opportunistic and spurious
attempt to frustrate the Company's genuine claim for damages which is
currently being progressed by the Company's legal representatives.

 

Tavistock's Chief Executive, Brian Raven, commented:

 

"Titan's claim is notable for its lack of evidence and much of what it alleges
is factually inaccurate. It will be refuted, and our damages claim pursued in
due course."

 

                     Performance post Titan's breaches of contract (27(th) Aug 2022 - 4(th) Jan
                     2024)
                     Performance vs Benchmark  Quartile Rank         Fund Rank             Percentile Rank
 ACUMEN Portfolio 4  -7.89%                    4(th)                 176/177               100(th)
 ACUMEN Portfolio 5  -8.27%                    4(th)                 177/177               100(th)
 ACUMEN Portfolio 6  -9.72%                    4(th)                 212/215               99(th)
 ACUMEN Portfolio 7  -11.19%                   4(th)                 214/215               100(th)
 ACUMEN Portfolio 8  -13.51%                   4(th)                 157/159               99(th)
 Average             -10.12%                   4(th)                                       100(th)

 

      Source of data: FE Analytics

 

For further information:

 

   Tavistock Investments Plc                             Tel: 01753 867000

   Oliver Cooke

   Brian Raven

   Allenby Capital Limited                               Tel: 020 3328 5656

   (Nominated adviser and broker)

   Corporate Finance:

   Nick Naylor, Liz Kirchner, Daniel Dearden-Williams

   Sales and Corporate Broking:

   Tony Quirke

   Infinite Global                                       Tel: 0207 269 1430

   (PR adviser)                                                 07860 534 141

   Ryan McSharry

   Matthew Gilleard

 

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