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Jarvis Securities ( (GB:JIM) ) has issued an update.
Jarvis Securities plc has completed the sale of its retail execution-only brokerage business to Interactive Investor Services Limited for up to £11 million. The transaction marks a significant shift in Jarvis’s operations, as the company plans to wind down its remaining operations, including the Model ‘B’ clearing and settlement service business. Jarvis aims to become an AIM Rule 15 Cash Shell, requiring a reverse takeover within six months. The directors do not currently plan to make acquisitions and intend to seek shareholder approval for the cancellation of the company’s admission to trading on AIM, with any remaining distributable reserves to be returned to shareholders.
More about Jarvis Securities
Jarvis Securities plc, established in 1984, is a holding company for Jarvis Investment Management Limited, a stock broking company and outsourced service provider for bespoke financial administration. The company is a member of the London Stock Exchange and Aquis Stock Exchange, authorized and regulated by the Financial Conduct Authority, and approved by HM Revenue & Customs as an ISA manager. Jarvis offers retail broking and flexible share trading facilities within ISA and SIPP wrappers, and provides tailored financial administration services to third-party organizations including advisers, stockbrokers, banks, and fund managers.
Average Trading Volume: 302,464
Technical Sentiment Signal: Sell
Current Market Cap: £8.05M
For an in-depth examination of JIM stock, go to TipRanks’ Overview page.