Tavistock and Lighthouse join forces to create investment management service

Tavistock plans fundraising

Tavistock Investments has announced it has entered into a strategic agreement with Lighthouse Group to establish an investment management service to develop and distribute products and services under the Luceo brand.

Luceo is Lighthouse's current proprietary range of investment solutions which already caters for an adviser base, to which Tavistock will promote its recently launched capital protection products and model portfolio service. Tavistock has also announced it intends to raise up to £1.25m of additional working capital before costs, through issuing up to 38,109,756 new ordinary shares of 1p each at a subscription price of 3.28p per share. If successful, the fundraise will allow the group to replace its existing debt facility with a new £2m five-year facility from NatWest Bank at a lower r...