Proposed acquisition of Standard Financial Group plc
Placing of 135,000,000 new Ordinary Shares at 2 pence per share
Open Offer of 30,455,624 new Ordinary Shares at 2 pence per share
Notice of General Meeting
Admission of the Enlarged Share Capital to trading on AIM
Tavistock Group plc is pleased to announce that it has entered into a conditional contract for the purchase of Standard Financial Group Limited, the holding company of a financial advisory business which operates predominantly through its regulated subsidiary, Financial Limited (“Financial”).
The acquisition, which is subject to change in control approval from the FCA and approval from shareholders, will create a top ten advisory group with over 300 financial advisers across the UK and 65,000 clients. The combined group’s turnover will be over £30m and assets under advice are projected to grow from the current £400 million to over £3 billion.