Jarvis Securities plc (LON:JIM), the holding company for Jarvis Investment Management Limited, a stock broking company and outsourced service provider for bespoke tailored financial administration, has announced that the circular concerning the proposed subdivision of existing ordinary shares will be posted to its shareholders today and a copy will be available on its website.
It is proposed that a resolution will be put to the Extraordinary General Meeting to subdivide each of the Company’s issued and unissued ordinary shares of £0.01 each into 4 ordinary shares of £0.0025 each.
The Directors of the Company are proposing a sub-division of existing ordinary shares in order to make the Company’s shares more accessible to smaller investors therefore improve the liquidity of the market in the Company’s shares.
The Extraordinary General Meeting is to be held on 29 October 2020 at 9am at 78 Mount Ephraim, Royal Tunbridge Wells TN4 8BS for the purpose of seeking Shareholders’ approval to the Resolution. During the Covid-19 pandemic, the UK Government has introduced new laws to prevent individuals engaging in non-essential travel and attending public gatherings of more than six people, save where essential for work purposes. Having taken legal advice, the Jarvis Securities Board has concluded that, in these exceptional circumstances and for as long as the current restrictions remain in place, shareholders should not be permitted to attend the Extraordinary General Meeting but instead will be asked to vote by proxy by appointing the Chairman of the meeting as their proxy. The Board has arranged for three persons to be physically present at the Extraordinary General Meeting to meet the quorum obligations under the Company’s articles of association but other than these individuals, no other shareholders will be allowed to attend.