Cripps advises Jarvis Securities plc on £2.2 million sale of treasury shares through PrimaryBid
Cripps’ corporate team has advised Jarvis Securities plc (“Jarvis Securities”) on a £2.2 million sale of treasury shares through PrimaryBid.
AIM listed Jarvis Securities provides retail and outsourced financial services including broking, ISA plans, SIPPS and regular savings plans, to a variety of clients including some of the world’s best known financial names.
Jarvis Securities is particularly keen to extend its valued retail investor base, which has supported the company over several years. The share offer provided an opportunity for these and other investors to apply for shares in the company through the mobile app provided by PrimaryBid.
At the same time as announcing the PrimaryBid Offer, Jarvis Securities announced that it was seeking shareholder approval for a court approved capital reduction at the General Meeting to be held on 4 May. Cripps’ corporate team is also advising Jarvis Securities on the capital reduction.
Helen Garner and Nigel Stanford led the Cripps team which advised Jarvis, supported by Kevin Finlayson, on the legal aspects of the PrimaryBid offer and continues to advise Jarvis in respect of the capital reduction, ensuring compliance with financial regulations and the requirements of the Companies Act 2006.
Managing Director, Andrew Grant commented “There are few firms regionally with the knowledge and experience required to navigate the technical and complex legal issues involved with public fundraisings. We found the corporate team at Cripps had a good understanding of what was required of us and worked closely with our other advisers to ensure our objectives were met.”
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