Tavistock Investments (TAVI)

Sector:

Leisure Products

Index:

FTSE AIM All-Share

 4.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 8.50
  • 52 Week Low: 3.75
  • Currency: UK Pounds
  • Shares Issued: 560.43m
  • Volume: 2,050,572
  • Market Cap: £23.82m

Tavistock agrees £3.7m acquisition of Morgan Financial Group

By Josh White

Date: Monday 17 Jan 2022

LONDON (ShareCast) - (Sharecast News) - Tavistock Investments has agreed to acquire the entire issued share capital of Morgan Financial Group, it announced on Monday, which it described as an independent financial advisory group with offices in Bath and Cheltenham.
The AIM-traded firm said Morgans has two wholly owned-subsidiaries, being Morgan Financial Group and Morgans Limited, with the latter regulated by the Financial Conduct Authority.

It said completion remained conditional on Tavistock receiving change-in-control approval from the FCA, and on there being no material adverse change in Morgans' financial standing prior to completion.

Tavistock said it had agreed to acquire Morgans for total cash consideration of £3.7m, from Corimar Asset Management Fund LP.

It said £3.1m of that would be paid on completion, and £0.6m 12 months following completion.

"We look forward to joining a much larger, well resourced group and to working with Tavistock's management team to expand the Morgans business," said Steve Thorrington, managing director at Morgans.

Morgans was established in 1992 as a provider of financial planning and consultancy services to private and corporate clients.

It employs 10 financial advisers and has more than 1,500 clients, with an estimated £500m in assets under advice.

Morgans' unaudited accounts for the year ended 30 April showed that the group achieved gross revenues of £2.3m, reported EBITDA of £0.3m, had gross assets of £1m, and net assets of £0.8m.

"We are pleased to welcome Morgans into the Tavistock Investments group and look forward to working with Steve and his team to improve Morgans' operational efficiency and accelerate its commercial development," said Brian Raven, chief executive officer of Tavistock.

At 1222 GMT, shares in Tavistock Investments were down 1.9% at 3.78p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TAVI Market Data

Currency UK Pounds
Share Price 4.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 8.50
52 Week Low 3.75
Volume 2,050,572
Shares Issued 560.43m
Market Cap £23.82m

TAVI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
24.01% above the market average24.01% above the market average24.01% above the market average24.01% above the market average24.01% above the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average
Price Trend
46.06% below the market average46.06% below the market average46.06% below the market average46.06% below the market average46.06% below the market average
16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average
Income
88.38% below the market average88.38% below the market average88.38% below the market average88.38% below the market average88.38% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Growth
59.29% above the market average59.29% above the market average59.29% above the market average59.29% above the market average59.29% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

TAVI Dividends

  Latest Previous
  Interim Interim
Ex-Div 30-Nov-23 07-Jul-22
Paid 15-Dec-23 22-Jul-22
Amount 0.070p 0.070p

Trades for 28-Mar-2024

Time Volume / Share Price
13:48 980,000 @ 4.00p
13:48 980,000 @ 4.00p
15:40 33 @ 4.50p
15:26 46,948 @ 4.31p
13:24 7,500 @ 4.31p

TAVI Key Personnel

Chair Oliver Charles Cooke
CEO Brian Raven

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