Jarvis Securities plc Dividend Declaration & Trading Update (9212I)

TIDMJIM

RNS Number : 9212I

Jarvis Securities plc

10 August 2023

Jarvis Securities plc

("Jarvis" or "the Company"

And with its subsidiaries the "Group")

DIVIDEND DECLARATION & TRADING UPDATE

The Directors of the Company confirm the payment of a dividend and announce a trading update for the Company's financial year ending 31 December 2023.

Dividend Declaration

The Board of Jarvis announces that it is declaring a third quarterly interim dividend of 2.25 pence per share, to be paid on 12 September 2023 to shareholders on the register on 18 August 2023 and the shares will become ex-dividend on 17 August 2023.

Trading Update

As previously announced, a Skilled Person was appointed pursuant to s166 Financial Services and Markets Act 2000 ("FSMA") ("Skilled Person") to review the systems and controls of the Company's subsidiary, Jarvis Investment Management Limited (see announcements dated 16 September 2022 and 4 July 2023). The associated restrictions on Model B clients, has led to the loss of certain Model B clients and the corresponding revenue. In addition the costs associated with the Skilled Person review are higher than anticipated. These factors, combined with reduced trading volumes caused by market conditions, mean that the Company is now trading below current market expectations.

Net cash at the end of July 2023 was GBP5.2m.

The Company holds cash well in excess of its current regulatory requirements.

DIVIDEND REINVESTMENT PLAN

A Dividend Reinvestment Plan is being offered and the final date for elections for reinvestment of the third quarterly interim dividend is 1 September 2023. Any shareholder requiring further information should contact the Company.

Enquiries :

Jarvis Securities plc 01892 510 515

Andrew Grant

Jolyon Head

WH Ireland Limited 0207 220 1666

Katy Mitchell / Darshan Patel

Notes :

Jarvis Securities plc is the holding company for Jarvis Investment Management Limited (AIM: JIM.L) a stock broking company and outsourced service provider for bespoke tailored financial administration. Jarvis was established in 1984 and is a member of the London Stock Exchange; a broker dealer member of Aquis Stock Exchange, authorised and regulated by the Financial Conduct Authority and an HM Revenue & Customs approved ISA manager. As well as normal retail broking Jarvis provides cost effective and flexible share trading facilities within ISA and SIPP wrappers.

Jarvis provides outsourced and partnered financial administration services to a number of third party organisations. These organisations include advisers, stockbrokers, banks and fund managers. Jarvis can tailor its administration processes to the requirements of each organisation and has a strong reputation for flexibility and cost-effectiveness.

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August 10, 2023 02:00 ET (06:00 GMT)

Jarvis Securities (LSE:JIM)
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