Brian Raven 50,000 - 50,000 1.00 - July 2016 July 2018 The market price of the shares at 31 March 2017 was 2.625 pence (2016: 4.625 pence) and the range during the financial period was 2.60 pence to 7.75 pence. During the year both Oliver Cooke and Brian Raven exercised the options, granted to them under the terms of the Company’s EMI Scheme, over 50,000 G Ordinary Shares, which as a class were then converted with the approval of Shareholders into 45,854,034 Ordinary Shares. After the balance sheet date, on 13 April 2017, the Company announced that it had inter alia, granted options over an additional 10,000,000 shares to each of Oliver Cooke and Brian Raven with an exercise price of 5.25p per share, which represented a premium of 86.2% over the Company’s then share price. In each case, the vesting of 5,000,000 of the shares is conditional upon the achievement by the Group of £5 million of pre-tax profit in a single year and the vesting of the other 5,000,000 shares is conditional upon the growth of the funds managed by the group to £1.5 billion. TAVISTOCK INVESTMENTS PLC REMUNERATION REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2017 Service contracts The term of the Directors’ service contracts can be summarised as follows: Executive Directors Commencement date Term Oliver Cooke 3 May 2013 Fixed to 31 March 2020, terminable thereafter on twelve months’ notice Brian Raven 12 May 2014 Fixed to 31 March 2020, terminable thereafter on twelve months’ notice Non-executive Directors Roderic Rennison 12 May 2014 Initial term 2 years, terminable at any time on three months’ notice Philip 12 May 2014 Initial term 2 years, terminable at any time on three months’ notice Directors' remuneration Details of each Director’s remuneration are provided in Note 5 to the financial statements entitled Costs. On behalf of the Board Oliver Cooke Chairman
Brian Raven 50,000 - 50,000 1.00 - July 2016 July 2018 The market price of the shares at 31 March 2017 was 2.625 pence (2016: 4.625 pence) and the range during the financial period was 2.60 pence to 7.75 pence. During the year both Oliver Cooke and Brian Raven exercised the options, granted to them under the terms of the Company’s EMI Scheme, over 50,000 G Ordinary Shares, which as a class were then converted with the approval of Shareholders into 45,854,034 Ordinary Shares. After the balance sheet date, on 13 April 2017, the Company announced that it had inter alia, granted options over an additional 10,000,000 shares to each of Oliver Cooke and Brian Raven with an exercise price of 5.25p per share, which represented a premium of 86.2% over the Company’s then share price. In each case, the vesting of 5,000,000 of the shares is conditional upon the achievement by the Group of £5 million of pre-tax profit in a single year and the vesting of the other 5,000,000 shares is conditional upon the growth of the funds managed by the group to £1.5 billion. TAVISTOCK INVESTMENTS PLC REMUNERATION REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2017 Service contracts The term of the Directors’ service contracts can be summarised as follows: Executive Directors Commencement date Term Oliver Cooke 3 May 2013 Fixed to 31 March 2020, terminable thereafter on twelve months’ notice Brian Raven 12 May 2014 Fixed to 31 March 2020, terminable thereafter on twelve months’ notice Non-executive Directors Roderic Rennison 12 May 2014 Initial term 2 years, terminable at any time on three months’ notice Philip 12 May 2014 Initial term 2 years, terminable at any time on three months’ notice Directors' remuneration Details of each Director’s remuneration are provided in Note 5 to the financial statements entitled Costs. On behalf of the Board Oliver Cooke Chairman
Consolidated-Financial-Statements-FINAL.docx