New OFEX shell seeks £0.2m
Article Date: Jun 03 2005Entrepreneur Ian Lancaster, who set up Virgin Cars for Richard Branson, is seeking £200,000 at 50p on OFEX for marketing services-oriented shell, Twenty.
St Helen's Capital is set to handle the issue for Twenty, which will sport a value of £1.7 million at the float price. Lancaster, who five years ago achieved a sale price of £50 million for marketing services consultancy Ultimate Perspective Group, says Twenty will look for investments and deals involving public and private companies in the same sector.
Now that AIM has closed the door on shell companies seeking less than £3 million, OFEX is hoping some of these aspirants will divert to the private share market, which recently changed its rules to admit them. An assessment of Twenty's merits awaits its prospectus.
