Tavistock Investments PLC Update on Titan Dispute
19 September 2024 - 11:47PM
RNS Regulatory News
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 (27th Aug 2022 -
4th Jan 2024)
|
|
|
Performance vs Benchmark
|
Quartile Rank
|
Fund Rank
|
Percentile Rank
|
|
ACUMEN Portfolio 4
|
-7.89%
|
4th
|
176/177
|
100th
|
|
ACUMEN Portfolio 5
|
-8.27%
|
4th
|
177/177
|
100th
|
|
ACUMEN Portfolio 6
|
-9.72%
|
4th
|
212/215
|
99th
|
|
ACUMEN Portfolio 7
|
-11.19%
|
4th
|
214/215
|
100th
|
|
ACUMEN Portfolio 8
|
-13.51%
|
4th
|
157/159
|
99th
|
|
Average
|
-10.12%
|
4th
|
|
100th
|
Source
of data: FE Analytics
For further
information:
|
|
Tavistock
Investments Plc
Oliver Cooke
Brian Raven
|
Tel: 01753 867000
|
|
|
|
Allenby
Capital Limited
(Nominated adviser and broker)
Corporate Finance:
Nick Naylor, Liz Kirchner, Daniel
Dearden-Williams
Sales and Corporate Broking:
Tony Quirke
|
Tel: 020 3328 5656
|
|
|
|
Infinite
Global
(PR adviser)
Ryan McSharry
Matthew Gilleard
|
Tel: 0207 269 1430
07860 534
141
|
|
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