National advice firm Tavistock has entered into £630,000 loan facility agreement with two directors and the firm's chief investment officer to help bolster the company's capital position.
A trading update released on Friday (27 September) revealed directors Oliver Cooke and Brian Raven as well as chief investment officer Christopher Peel gave an "irrevocable undertaking" to the company. All three senior employees will loan up to £210,000 to the company with the agreement the sums will be repaid with interest on 30 September 2020. In the update, the Tavistock board said the directors felt seeking to raise additional capital elsewhere would be "unduly dilutive for shareholders." It said: "To bolster the regulatory capital position in a manner that is not dilutive to s...
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