TIDMTAVI

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 GBP1.4 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     Tel: 01753 867000 
  Plc 
  Oliver Cooke 
  Brian Raven 
 
 Arden Partners Plc        Tel: 020 7614 5900 
  William Vandyk 
 
 Allenby Capital Limited   Tel: 020 3328 5656 
  Nick Naylor 
  Nick Athanas 
 
 Templars Communications   Tel: 020 3642 3140 
  Limited 
  Kitty Parry 
  Malika Shermatova

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

October 24, 2017 06:33 ET (10:33 GMT)

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